Ann: Audio Broadcast - Comments on Resource Upgra, page-5

re: Ann: Audio Broadcast - Comments on Resour... Looks to me like we are being positioned for takeover, whether we like it or not. Couple up the following comments made by Gus:

We have to put upgrading the status of a major part of the resource on the backburner as it is pretty expensive to do - i.e. more than the money we have (reference to half a billion dollars).

Rio and BHP are snapping up anything that looks like a producer (this is true, not Rio's latest acquisition in Canada and the CEO's recent comments on Inside Finance on the ABC).

The PEN holdings in Wyoming are a "province" of Uranium, not a deposit.

It all says we have a big holding, it will be expensive to develop ourselves, we know that the big boys are looking. I can't see too many other conclusions. Just hope the price is right, as they say.