blr - valuation , page-7

Thanks for the efforts once again Grant.

However, I suspect $30/lb is unlikely to be the final cost of production. If using PE (which means that you are calculating the value of the company and not just the mine), its more appropriate to use c3 cost which would need to include depreciation, amortisation, financing cost, indirect cost etc. No idea what that would be though but PEA should provide those details.

IMO, we still need sentiment to change and the spot price to start rising before we will see any sustainable increase in BLR's share price.

That said, recent news regarding a possible delay with Olympic Dam was one of the catalysts I was waiting for to hopefully change the sentiment towards uranium. Will be interesting to see if it has any effect. Was a bit disappointed that the restarting of 2 nuclear reactors in Japan had no effect whatsoever so not getting overly excited just yet.