Ann: $1.75m Placement Announcement, page-25

The uranium spot price fell to as low as $20.25/lb in April but has since spiked to $23.75/lb.
Young told the Noosa Mining and Exploration Conference on Friday that none of the world's uranium mines were making any money at the current price.
"There are three letters that sum up the uranium market at the moment - WTF," he said.
According to Young, uranium had been in the doldrums for so long that it wasn't sexy to investors.
"People go where the bling is," he said.

"The bling's not with uranium right now."
Young said the fundamentals pointed to a significant turnaround.
"There's a wall of demand coming - there's no doubt about it," he said.
But due to a "dysfunctional project pipeline", it would be impossible to meet that demand.
Vimy's Mulga Rock project in Western Australia is one of the few uranium projects globally that is shovel ready and awaiting an improvement in price.
Young believes the price will start to move in the short-term.
"I think it will go up to $30/lb towards the end of the year," he said.
He said the recent listing of physical uranium trader Yellow Cake in London, and the establishment of a dedicated uranium fund by Tribeca as further evidence that a price spike was coming.