extract today, page-42

Hi Guys,

Just a quickie. With rising costs (acid, labour etc) and with the lower U spot price the market is having a rest from U stocks.

BMN is suffering from the uncertainty just like all the others. Whether they will be feasible or not will come out in the BFS conclusion which I guess is at least 12 months away.

In view of the U sector uncertainty it is refreshing that EXT is hardly touched by it all.

We are in stasis atm. Everyone is waiting, sellers and buyers.

We all know what we are waiting for ... ultimately. Sure there will be drill results between now and then and they will most likely be pretty good.

But the thing we are all waiting for is a thing which will make the estimated capital expenditure (circa $210 million) suddenly redundant.

If all goes well we may have a big brother, won't that be nice?

p.s. Jack it is dangerous to walk into that Hornet's nest, they don't take kindly to strangers in that part of town and they most certainly don't like strangers who come sans-blinkers.

p.p.s Harls, I would have said "Home Administrator"