Ann: Ponton Uranium Project, page-5

Well, they have seemingly been flat out coming up with new terms…..“Decarbisitaion”

Look, ill admit picking on a typo is a low blow….but at the rate things are going, there is not much else to focus on.

12 months expenditure exemption - Ok great…what about for the next 12 months of which we are already halfway through, or the 12 months after that.
“Despite regular inbound interest expressed for the Ponton Uranium Project from third parties, the company strongly believes in maintaining its 100% interest in the Ponton Uranium Project”
IMO there comes a point at which holding onto this for a future scenario where all the stars align is not the best strategy for value realisation.
For one, there are no guarantees or clarity that there is going to be a policy change by the WA government to the current stipulated "no uranium" condition. But, even if there was, it’s still located in a class A Nature Reserve.
“These reserves (class A) are the most protected type of Crown (public) land in Western Australia, as parliamentary approval is required to amend the reserve's purpose or area, or to cancel the reservation. Once a class A reserve is created it cannot be used for anything other than that purpose, unless a proposal to change the use is laid before both Houses of Parliament.”
Sure, you can go through the process of gaining the necessary approvals for exploration (many do). But mining lease and then operation permitting would be a whole other ball game – the timelines and red tape involved would be next level. So where, and more importantly when, would the "significant accretive value" be realised in those scenarios.

I guess my point is – IF there is “regular inbound interest” then why isn’t this being pursued.
Obviously, we don’t know what this entails…acquisition, JV etc. but either way additional capital via a sale or simply re-distribution of expenditure towards New Bendigo for additional drilling and MRE might be the best thing for shareholders in the near- to mid-term.

Also, the fact that the ‘nuclear-powered submarine’ line in the announcement is a hyperlink to the Wikipedia Nuclear submarine page....why!