CXO the timing is perfect, page-116

I think it would be worthwhile seriously exploring the idea once we have got our core business settled for the time being.

The biggest issue with Uranium mining, aside from really poor commodity prices for the last few years which have made it not particulary profitable unless your also ripping other metals out of the ground at the same time at the same site is actually getting the licencing here in Australia.

Navigating through Uranium mining licencing red tape is notoriously difficult and any time you announce your going to build a Uranium mine somewhere you can pretty much guarentee a small crowd of hippies chaining themselves to the gate and organisations such as Greenpeace doing whatever they can to derail the process. That's part of the reason why there are only 4 active licences to mine it and export it at the moment in Australia (Ranger in the NT (which will be shutting down soon as the grade is plummeting) and 4 Mile, Olympic Dam and Honeymoon (which is already mothballed) in South Australia.

There is exploration happening in WA at the moment too but that could be quite tricky for those companies to get off the ground.

South Australia probably has the most relaxed laws around this which is fortunate for us as our tenament is located there and for any potential purchaser of the tenament would benefit from less hoops and if they already have the processing and exporting licences could actually have a fairly clean transition in.

Long term, if the money was there, we could potentially chase it as its own stand alone project and I expect on a longer range forecast (10-30 years) Uranium will actually do very very well as cheap producers in Kazakstan dry up and the megatonnes to megawatts supply has all been consumed.

Nuclear Reactors need a steady and extremely stable supply otherwise electrical grids will go down. Asia is heavily involved in developing nuclear as a cleaner alternative to Coal and with increased demand and limited supply that will be slow to come online, comes a likely rise in commodity prices.

For us, it might be better waiting a few years and flicking it to one of the 3 current licence holders in SA so we can develop elsewhere such as Barrow Creek or our gold or copper tenements. But for the time being, sitting tight and keeping our eyes on the lithium prize is the best use of our time.