Ann: Final Details of White Canyon Uranium Ore Pr, page-4

re: Ann: Final Details of White Canyon Uraniu... Looks like the micky mouse announcement re sales (or piece of cr#p) dated 25/2/2011 was reviewed (ASIC?) and sent back to the company for a more detailed explanation of the sale process and more information for shareholders. Other wise why release this info. May be that ASIC is looking closer at recent announcements and takeover, hopefully. (Previous announcement below).


"MEDIA RELEASE 25 February 2011
107,000 pounds of U308 sold at an average price of $69.46 per pound.

White Canyon Uranium Ltd (ASX: WCU, TSX-V: WU) is pleased to announce it has now concluded the sale of 107,000 pounds of recently milled U308 yellowcake under two separate contracts for an average price per pound of $69.46."





Total Ore for Sale / Produced = 204,450 lb

Sale proceeds = $7,432,220 / 107000lb = $69.46 per lb sale price.

Total produced 204,450 lb x $69.46 per lb = $14,201,097

Milling and Processing Cost = 86,650 lb x $69.46 = $6,018,709

And maybe extra 10,223 lb x $69.46 = $710,090

Therefore total milling and processing cost could be $6.729 m

Processing and milling cost as % of potential sales of production = 47.4%

Is this high?

Maybe Dennison have thought at this price $55.363 m (230,679,770 shares @ $0.24) for company we could pay for it in four production runs.

They are trying to steal the company and the current board are leaving the 'keys in the door'.