clock ticking for extract resources in namibia, page-7

Hello DD,

I believe there was a capital raise at $7.75 so the company would prefer to use bank debt, bank financing and off take agreements to finance the rest of the project. With a bankable feasibility study due out in Q1 2011, getting finance would be straightforward.

I believe the Chinese, Russians, Japanese, AVERA , Cameco, the Koreans and others are trying to figure out when the BFS is coming in order to make the lowest bid possible. No firm wants to be the first bidder for EXT, they wish to be the winning bidder. Hence the 'quiet period' lately. As long as at least 500m lbs of uranium is put into the measured, indicated and inferred category, i will stick to my $12 year end target.

Cait

Cait