Zog
I would guess that a price range for a quarter share of GLE has already been discussed between cameco and silex, and it would be enough to cover silex costs up to development. That agreed "fair market price" would be in the future, perhaps when more gle business risks are overcome (market conditions, finance etc). It would make no sense for silex to sign off if they didn't have development cost covered.
Rather than this or staffing I see the conversion of this current term sheet into a signed deal, market sentiment and construction finance risk as being the ones to watch.
Also let's not forget that there may be scope in this agreement to bring in
an additional partner, triggering only a 500k penalty to cameco should silex want to do something else with that marketable 25% share of GLE.
Without evidence, but just for example, wouldn't you think Centrus with their too expensive American centrifuge would love to return to their glory days with a "game changing" plant in Paducah on the cheap.
Personally I will be watching for signs of Doe sentiment and a signed deal from this term sheet to give me further hope.
Enjoyed reading you veiws.
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