interesting opportunity

$6.5m market cap (not including 18m options as they are currently trading below exercise price)

$4m in cash with another $1.2m on the way from Shandong - this placement being done @ $0.21 (22% premium to current price) - Shandong will advance UUL's NT tenements by spending $3m for a 50% interest. This is a great result for such a small company.

There is no way this is going to last long at sub $0.20 - I assume the risk averse will be looking to wait for approvals to be finalised from the FIRB. Farmin agreement should have been finalised on Oct 24 (one month after the term sheet was signed).

Whichever way you look at this, at the current price UUL is a bargain. Low issued capital, a heap of cash and in a resurgent commodity (uranium).

Marchello