re: fin review today / missed it Then the AFR needs to do a...

re: fin review today / missed it Then the AFR needs to do a follow up correcting it HayMan.

Placement to Hunan is 12 mill shares at 2.50 for 30 mill bucks. Hunan will end up with 12 / 115 = 10.4 %. Thats irrespective of everything else. Sounds like another bouncer at our door to keep out undesirables gatecrashing the party hey?

Kid u not, I am still trying to come to terms with the grand implications and future divvies likely to result ahead of previous schedule, to fund the way of life I WISH to be accostomed to haha.

Re Oxides plant and its poss use for cake etc ...... lotsa combos and permutations here and doubt whether anyone has worked out the answer yet. A yellowcake producer is much simpler than even Oxides tho, so doubt it would take long to put together from scratch if needed.

Or else CMR could buy back the Oxides plant at depreciated rate and convert for U in coupla years time when ready to produce U (?)....... whilst meanwhile the JV is setting up a larger base metals plant( ?) Who knows what the optimum MO is ......... but WHAT A DILEMMA TO FACE Olympians !!!! Definite Q to ask at the AGM.

Note the "fast track" for U production could mean a coupla years anyway, cos this is gonna be a test case ........ but meanwhile we r earning ex oxides and prob paying them out in full as divvies now that we have no funding commitments and the U capex in the kitty !!!

Bringing on new mine production is usually a lengthy exercise but when u consider BHPs planned U-expanion is 5 years away, that TIME requirement works in our favour in attracting the L/T deals, just as all the other reasons previously cited do. The Chinese and others want long term secure supply without worries of sovereign risk etc. Just as we would want to secure L/T offtake agreements for our produce. The instos will LOVE this deal once they digest it and it evolves......... a deal made in Mt Olympus for mine.

But no-one really believes it yet ...... just look at the way the AFR treated it. They sure believe it in Hong Kong tho !!! Hunan was in "pre" for 3 days prior and shot up 12% on announcement.

A further thought ...... a 30 cps starting divvie in 2007 say, would justify a 6 bucks share price for 5% yield, or 10 bucks share price for 3% yield. Favour the latter cos of the capital gain / increasing likely yields implicit beyond. THEN we have a likely U-JORC prelim resource combo from multiple targets to be assessed in THIS YEAR'S season. If HALF as successful as PDN, could mean another billion bucks in market cap being assigned. And it now looks unlikely any more shares will be issued during these developments.

My point ...... overlap above two considerations and we may well be holding the Holy Grail in "A" wave current. And "A" wave sets the scene for "C" wave later with sulphides + U production !!! No wonder my astrologer saw 2009 as the Olympian year ! Thats the Golden Fleece we seek in "C" IMO ...... and would need about 3 bucks ps net earnings combo to achieve on PE 11 say.

Reckon the Olympian analysts watching from day 1 would have a real feel for this already but u gotta do it in steps as each milestone is reached ......... we assume all things going as planned here but need the ticks at each step of the way ...... the ORM marker buoys.

And what of EW -"E" ...... will it be an extended fifth to coincide with an extended Kondratieff resources supercycle out to y2004 and beyond? Who knows, but Zeus willing, I will still be riding it with some portion of current holding.

All reward / risk of course but based current status and with whats about to begin, reckon we are still well short of "fair value" at current 400 mill market cap. Wouldnt even do a CMR owned Oxides project justice without the rest ........ thats the fallback ....... Hunan has given us a free call option on Sulphides to add to the free call option on Uranium haha. I'm starting to feel like a hedge fund !

The Holy Grail is taking form thru the cosmic smoke IMO.

IMVBOOC