CXU cauldron energy limited

Ann: Bennet Well Scoping Study, page-3

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    What's everyone's thoughts on this? Are the grades too low to be economical? Mangement modelled their cut-off benchmark at 175ppm with bennet Well being at ~373ppm (on the assumption that spot price remains at current levels or greater). BOE acquired Alta Mesa Project for USD$60m which has 3.41 million pounds at 0.109% U3O8 measured and indicated and 16.97 million pounds at 0.120% U3O8 inferred N.I. 43-101 compliant resources. CXU's grade is about a third that of Alta Mesa but possibly double the size.
 
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Mkt cap ! $13.15M
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