Ann: Update on Sale of Langer Heinrich, TSX and Creditors Meeting, page-19

If I was CNNC, I would swoop in and exercise the option and buy a large stake of the Langer Hendrich mine at such opportunistic prices. Uranium price is depressed as Hillary Clinton supporters on 9th November 2am, but definitely not as down and out as them. The fact that most uranium producing mines are now operating at hefty losses while the Langer Hendrich mine has been close to cash flow neutral says something.

I am a shareholder and had been quite bullish about the future of uranium, and this is a disappointing situation. However, if it does take Paladin Energy to call the end of the uranium bear market, then move on. I do believe that it is sad that they have to get to this, having done so well over the past 13 years to develop the largest pure play uranium mine on the ASX.

I am not giving up hope, but I am definitely expressing my disappointment as a shareholder while also seeing that CNNC and the other creditors have every reason to back Paladin Energy into the corner so they can flirt with the idea of feeding on the juicy carcase.