Eshmun asserted: "This company won't be valued at more than...

Eshmun asserted: "This company won't be valued at more than 27.5cents in this market under any circumstances arising out of this trial process IMHO."

0.275 x 400 m approx. $110 m
0.275 x 460 m approx $127 m

So you think under NO circumstances AGS is worth more than $127 m?

Well, I think you're wrong.

AGS have stated they will not sell unless they can obtain fair value (or words to that effect).

By the end of 2015, the stockpile may well be worth $55m. More if contracting picks up. Why would you sell the stockpile for anything other than full value? The rest of B4M is worth approx. $70m?

0.25 x 140 m = 35 m pounds

You would sell 35 m pounds of U in one of the safest & bestest jurisdictions in the world for $2 a pound?

At some stage, B4M will probably be mined at a rate of at least 5Mlb per year. AGS share at least 1.25 Mlb. We know there is massive reactor expansion planned. We know costs at B4M are roughly $30 to $40 per pound US (depending on exchange rate & those other thing AGS bangs on about in each release (ie transportation costs, converter costs etc)

We know in order to incentivise production to meet reactor expansion, contract prices need to be in the $70 - $80 range per pound US. I.e a margin of 40 to 50 US dollars per pound.

We know the Chinese are on the hunt for assets. Our buddy Sludge told us Exelon was mentioned in conversations he had with management at the last AGM. We also know ITOCHU is still around.

We know B4M mineralisation remains open all over the place. Look at the arrows on the diagrams. Also take a look at the mineralisation envelope. I think mineralisation continues outside those envelopes. I also think they're underestimating the amount of U in areas of sparse drilling.

Finally, see my post here: http://hotcopper.com.au/threads/itochu-40-dilution.2333231/page-61?post_id=13799693#.VVgccUYQOKU

This, as far as I know, is one of the few insights into what someone was prepared to pay for B4M. I.e 400m for 40%. That was prior to discovery of 4MNE.

B4M is the Rolls Royce of uranium deposits, I'm not selling my share for the price of a Commodore.

You might say I'm a dreamer, but I'm not the only one (with apologies to John Lennon)