double jorc of 3 months ago, page-13

Chelmsford,
Recovery costs of U are usually stated at $US35 or there abouts. $60 is certainly a conservative estimate.

The long term U price (for 90% of the U bought, spot price is 10%) is around $95 at the moment.

With recovery of 15 million pounds over 10 years, this would estimate a profit of around 500 million (or less if NPV values are taken in. Neverthe less, the company value at 80 million currently is certainly less than those conservative values.

The other bright spark in the announcements is the high park area. The depths were enough to use housing development graders to pull the U out of the ground for 1 million pounds. That would certainly be defined as low hanging fruit in my book. If you set up a small back yard type of mine to recover that sort of mineral it could happen fairly quickly with low set up costs.

The US is set to keep dropping interest rates until the housing market flattens, this will wash over around Feb/ March next year. The US economy outlook will be better and BLR scoping report will be due with the flip into a Bankable Feasibility study.

Wait until February folks.