re: cautious buyers shrinking sellers Let's not lose sight of...

re: cautious buyers shrinking sellers Let's not lose sight of what has been said, the Chinese have indicated their main interest is the Perth junior's 26,000sqkm of exploration tenements in Tanzania even though Uranex's most advanced project is Thatcher Soak, in the same West Australian region as the 52,000-tonne Yeelirrie deposit owned by BHP. Petroleum company BP reported a 6000-tonne estimate in the 1970s at Thatcher Soak. Uranex managing director George Kenway said he was hopeful of further exploration doubling that estimate.
That's not bad, 12000tonne. But CNNC obviously think that they can get more out of Tanzania.
Don't forget Paladin's Kayelekerra mine is considered viable with an annual production capacity of around 1000t U308 per year for 10 years. That's 10000tonnes in total. Less than Thatcher Soak expected 12000 tonne per year. The Langer Heinrich project in Namibia is expected to output in total 30-40000tonnes in total depending on whether 250ppm is used or 300ppm.
Look at the market cap of Paladin. Still over 2billion Australian. ( all approx figures)
Many minnows floating around with market caps higher than UNX. The majority of which will never amount to anything!! I can only assume that CNNC have carried out some sort of due diligence or research behind the scenes and have decided to back UNX because they feel that UNX can deliver the goods.
Time will tell. I can understand the pull back as many punters have probably already doubled their money and are fearful of losing a bird in the hand for 10 in the bush!! Personally I'm going to follow CNNC because I can't see the market cap staying at these levels for too long and presumably they have had a peek to see what's in the bushes. Well, wouldn't you?!! lol

seek expert advice.