thanks guys for your responses. One concern would be is the...

thanks guys for your responses.

One concern would be is the current oversupply of Uranium on the market and will be this way for the next 3 years according to experts so its a 3 + year wait to get good margins and prices will struggle until we sort out the supply/demand issue- it will come but just not as quick as we would like . I notice they said that their all in costs were estimated to be $30 /lb so once they take off demortisation/ tax etc there wont be much if anything left as NPAT. I think they based their numbers on a L/T contract price of $65 which is a long way off , however this is the key for rising U producers- once upon a time yesterdays announcement woudl have seen the shareprice go up at least 20% - just shows how the Fukushima and public opinion have quelled the U bull run from back in early 2011- Once they get all their permits up to date it will be the issue of the funding requirements of $40 million and where it will come from - thats significantly important in the scheme of things as without that your stuck- if the funding comes easily then game on - if they struggle to get funding then they may have to dilute shares on issue and seriously capital raise- anyhow good to hear some of your comments and how professionally they were conducted - thanks again
Ill put it on my watchlist and see what develops

cheers schu