High grades look great on mining releases, however mining...

High grades look great on mining releases, however mining uranium is about producing U at so much per lb and selling it for more.

Capex and Opex are key

ATM our Capex is $260million and Opex is $38 per lb.

Scrubbing the low grade ore costs about $1 per lb.

U prices are around $63 and are predicted to rise substantially.

The plan is to produce 3.5million LBs per year

The maths indicates we are economic and could pay of the Capex within 5 years

Mey is valued at less than $.5 per lb. We are way under valued.

We were at 12c prior to the placing and RI (artificially inflated to achieve the 7c placing IMHO). There has been a few weeks for everyone to buy and sell their stock to achieve the holding they want....i.e.overhang...it should be clearing.

Recent drilling results are very promising and will add to the resource. There is plenty more to come. Metallurgical studies will help bring down Opex costs and the increase in LBs in the ground will continue to add value to the project

If Areva and Hanlong thought low grade resources uneconomic would Areva have bought Trekkopje at $7 per lb? Bought a chunk of their neighbour marenica? Would Hanlong have invested some millions of dollars and signed a MOU in which they talk about financing MEY to production?

We are at the beginning of a growth phase. Everything is lined up for an excellent 2011/2012. If I had more money I would be buying more stock right now. As it is I hold loads and will continue to hold as the company is set up nicely for SP progress