Baz,
I think Cigar Lake project is delayed rather than failed. Last I heard they had added another two years to the completion date.
I also understand that for building of a plant to progress a five year supply contract must be established but I did not read that as a physical holding of 5 years of U.
Arvea have a lot of contracts coming their way in the next 20 years, they are an excellent investment opportunity if anyone knows how to invest in them.
They wanted more of SMM but PDN outbid them. I remember hearing the PDN CEO talk about this and he said they were very confident Peter Beatty would allow further U mining in QLD and that was why they were buying into SMM.
Since then Beatty has been saying the opposite. If PDN got it wrong they could have a long wait before they see the benefits of their stake in SMM.
Baz,I think Cigar Lake project is delayed rather than failed....
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