JimakoThere is no need for you to tell me the BMN numbers don't...

Jimako

There is no need for you to tell me the BMN numbers don't stack up.

I am saying the Chinese mined BMN for themselves. For example, Chinese wish to build some nuclear power stations. The economics do not come into it.

They mine the BMN deposit for $39/lb. That is cheaper than buying for $60/lb.

They spend $600m in capex. For private investment $600 capex has too long a payback period but for state controlled supply 10 years is fine.

Chinese state company does not have to raise capital by issuing shares.

Where as even if BMN could borrow 70% of their capital, issuing 30% of capital is shares results in dilution too much for shareholder return.

Thnking the Chinese will takeover EXT is like thinking you are going to marry the most beautiful girl in the world.

The Chinese either settle for scraps or pay BIG money.