InaflapThat is also a matter of concern . . . . . "Don't worry...

Inaflap

That is also a matter of concern . . . . .

"Don't worry SwissBoy I'm sure the more PEN add to the JORC the cheaper it will get per pound it's called "economies of scale" ;)"

Did you notice the anticipated conversion figures from Inferred to Indicated U3o8 resource that have been used to derive todays production cost?

Look at the second paragraph under the bottom of the highlights list Page 1.

-----------------------------------------------------------

" This number assumes the conversion of 23.88 mlbs of 36.78mlbs of inferred U3o8 resources to indicated catergory or better."

Up until the last JORC upgrade they have only been able to convert . . . . . . .

"about 15% of inferred resources to the indicated"

Which is way below the 40% which the company estimated.

-----------------------------------------------------------

Do the maths . . . . . . now they are saying they will be able to convert 23.88 mlbs of the 36.78 mlbs.

" That is a conversion rate of just under 65% "

The facts are 15% . . . . . the estimate is 65%

-----------------------------------------------------------

What do you think will happen to costs if they don't achieve that 65% ?????????



SwissB