Ann: Four Mile Project - PEPR Status , page-141

The more uranium coming out of Four Mile the better.

AGS will be rated on prospectivity and production when Four Mile starts producing.

We also have this interesting situation where if Four Mile uranium is coming out of Honeymoon how would it fit into the current JVA?

If the current JVA has no provisions relating to processing (precititation and drying etc) at any other Plant other then Beverley then Heathgate would need to renegotiate with Alliance. Better terms at Honeymoon than Beverley possible.

Possibly Heathgate would use Honeymoon to process their Beverley North deposits and everything coming out of Four Mile would be solely processed at Beverley. When the Heathgate Beverley North deposits are totally exhausted then Honeymoon and Beverley could be totally dedicated to Four Mile which means we would have 3.88Mlbs of total capaicity as it exists today.

But as it stands atm Heathgate can not produce 1Mlbs from their Beverley North and produce 2.12Mlbs in the first 10 months of production of Four Mile. The Beverley Plant is not designed for this.

So something needs to be explained.