interesting read, page-2

conquest,

I have read that the going rate for U IGV resources now is up to $US30/lb, that benchmark I think achieved with the SXR takeover of Ur-Asia. The latter of course is already in production so would be an upper level of value, unless the PDN/SMM deal has already blown that out of the water as you suggest.

Another recent offer (last week) was CAMEC's for OMC's Lake Kariba Zambia project, which was $1.44/share eq for 14.7m lbs JORC inferred at 380ppm shallow easily processed (alkali leach) deposit with lots of exploration upside, which equates on FPO's outstanding to MC $222M = $A15/lb IGV.

So, $A15 would be a minimum accounting for sovereign risk, ie in Australia that would be higher, say +20% = $A18?

MTN 80Mlbs @ $A15/lb = $1.2B. /60M FPO's say = $20/share.

Can't see why not apart from question marks on the lowish grade at 680ppm thus far which may be marginal for u/g mining - honestly I don't know what the hurdle is in terms of grade for profitable u/g mining in terms of POU. One would have to be very careful in choosing a conservative long-term uranium price to ensure long-term profitability .