Oly,It's hard to see big upside in the medium-term even, right...

Oly,

It's hard to see big upside in the medium-term even, right now. The oxides looks like at best largely going to pay off the massive debt we now have (remember when we were meant to have $50M left after the Oxides capex with which to build the U plant?) and who's to trust this bunch going forward with managing sulphides let alone the uranium?

I guess we have unfortunately overlooked "management quality" as one of the most important criteria when investing in a company or not investing. Our bunch probably had no idea how smart Chinese businessmen are at negotiating and got cleaned up right at the start. Tunnel vision..........expensive mistake for all holders as we are basically $70M out of pocket by not having an escalation clause in the oxides capex part of the deal which we could have got HNC to cough for their half of the increased capex. Then we are another $70M out of pocket with our own half of the cost escalation, including interest etc.

I am thankful I bailed 90% at av. $5.25 but have been left with a few which have lost 50% of value...........