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Yuro,

Yes it is interesting and that is why my understanding from the talk is that their no 1 priority is to put the pounds on the board or to table a JORC compliant resource. Jorc is fundamental and exists for a very good reason. The intention is to table a preliminary Jorc by June 10 and add to this by year end as they are drilling all through out 2010.

Also mentioned is that they know they have the pounds and thus they are able run other activities such as permitting, plant design etc.

The mention of financiers in my mind comes back to the issue of the plant. They have a line of credit of $US50M but given the exchange rate they will need more for the plant capacity increase. Given other activities will be completed successfully IMO the Plant Capacity is the key to projecting the earnings per share and thus ultimately the share value.

Another issue in my mind is the Mine life. Given a high confidence of tabling 100M+ lbs then a production of 3M lbs pa, mine life is some 33+ years. Seems too long to me and would be hoping the financiers are about looking at a 5M lbs prodn/pa to bring the mine life back to some 20 years which would bring it in line with the likes of EXT and of course further boost the potential earnings per share.

Regards JJ.