intraday view, page-7

Hunan will only share in the U production/income in proportion to the shareholding in CMR. They only have 50% of the oxides at the moment and virtually an option on 50% of the sulphides (by funding the BFS & development costs).

The real question mark raised by today's announcement is the acknowledgement of the potential difficulty in seperately mining the base metals & the U. This seems to frank the view expressed for quite some time that the deposit could be metallurgically "challenging", not the least because of the different environmental requirements of mining U compared to copper, nickel, cobalt etc.