As much as I like company/management, that's where my thinking...

As much as I like company/management, that's where my thinking is too, @Fhlee. At a 0.691 AUD/USD, the free cash flow (pre tax) of the entire project is A$840M which is less than the current market cap of A$881M. It's probably an overly simplistic way of looking at things, but it indicates how lofty the valuation is. Will be interesting to see how it holds up over the next six months as things progress closer towards production. I'm not a trader by any means, but it does seem like the sort of stock you can buy under/at $2.00 when uranium/general market sentiment is negative, and then get yourself a nice 25%-35% return as the bullishness swings around again.