Ann: Exploration Update - Tanzania , page-7

Yes Smity thats correct. I have simplistically used a $60 spot price as an indication that the market is moving forward and supply/demand factors are pointing favourably again in this sector. Yes LT u3o8 would be approx $80 at this spot price.

All I am saying is that positive price movements of u3o8 will result in STRONG price movements upwards in UNX. If you look at spot prices in 2007-2008 of approx $135 and obviously correlate with UNX we were operating in a very strong market, and the company had not proven anything at that stage. It was all based simply on potential.

Move forward 2 years with the spot price at $41.50 the uranium sector has fallen off a cliff. UNX as an organisation has never been closer to making our dreams become reality so i am very buoyant about our prospects.

Pre feasibility study in the September quarter will be EXTREMELY POSITIVE, and i am lead to believe it will point towards the commercialisation of Manyoni. The key is that we get an educated estimation of the numbers and how this resource can be profitable to UNX.

On top of this imagine what could be achieved with a greater focus on selling the brand by management with a focus on partnerships with key clients worldwide. The potential for UNX to develop sound/smart relationships is pivotal to all of our financial success with this company.

Onwards and upwards.

Matt