invaluable egm

Ok. For what it's worth, here is my take on the EGM.

First of all the Hot Copper identities. Cuzo - based upon your post, I think I was sitting a couple of rows behind you. Geezus if that was you, your missus is top shelf.

I didn't meet Oly but I thought he was much older - I don't know why. But his line of questioning was spot on and he is as eloquent verbally as he is in the written form.

Wiza and Gamias - back row good looking greek fella's ? I think Wiza asked a couple of q's ?

Back to the agenda - overall the 'vibe' was one of supreme confidence. It wasn't a slick presentation, these blokes have heads like pineapples but the assuredness of their language and their pose suggests that good times are ahead.

In terms of specifics, when I refer to my notes the following leaped off the page:

* We have scored some top PR marks opening a Darwin office. The NT Mines Minister has changed but our CEO and the new Minister are travelling to China in November.

* Our Chinese middleman was instrumental in the HNC deal. GT referred to us being 'eternally grateful' to him. The Chinese dude is co-ordinating the visit and has arranged to meet the key officials.

* Oxides - Browns is due to last 2-3 years. Mt Fitch and Area 55 will add another 6-7 years (assuming permits received).

* The CEO gave the Oxides update and GT did the rest. I was impressed in the CEO - his style, knowledge and communication skills were spot on.

* Lead - described by GT as being previously 'unloved'. He didn't really elaborate on lead ?

* Zinc - GT spoke for a bit about this. He stated that it isn't of high grade and there isn't a lot of it but it is economical but has the potential to be a 'significant resource'.

* Cigar Lake - not us but GT reckons that to bring this back on line within 12 months is 'very optimistic'. His body language conveyed the impression of it being a lot worse than people think.

* Uranium - Citadel use a USD$7 tonne valuation for each tonne of ore for a URANIUM EXPLORER. They use USD$13 tonne for a URANIUM PRODUCER. I haven't done the maths when applying this to us - Wiza ?

* U plant - The existing Cawse plant would NOT be used for any U production. A relatively straight forward 'resin-in-pulp' mill using ion exchange technology would be developed.

* Kylie - has been drilled and results expected before year end.

* Mt Minza - has not been drilled and has been scheduled for the 07 drilling campaign.

* Assays - high grade U assays take a whole lot longer than other metals. OH&S issues are part of the reason. Delays at the lab are outside of our control but extra money thrown at them may spped it up. MH stated that this is uncommon and seemingly a tactic that we don't use.

* Mt Fitch Uranium - described as a 'starter' project, is not the largest, is of low grade but would be mined open pit. The focus is to receive the pre-feasibility study and to convert it from JORC resource to JORC reserve.

* GT is pumped about Rum Jungle Creek South and Kylie. These results in due course could blow our minds.

* GT (like me) is not a fan of the left-leaning Fairfax press. They particularly give us a hard time.

* GT is also 'very excited' about the NSW drilling program - results are due soon.

* Sulphides - a 'global engineering firm' may assist both us and HNC in the drafting of the feasibility study - expected to cost about $12m.

* Off subject a bit but I think GT reads Hot Copper. He said that the 'chat rooms' have vigorously debated the options and compensation package. Hello GT !.

* To close, I have written down in capital letters a comment made by GT. He said that we are located within 'an incredible mineral deposit' and we have only seen the 'tip of the iceberg' in terms of understanding what lies beneath.

Sorry for the long windedness of this and I trust that it is an accurate represenation of what was said. Please correct me if not. I am also sorry that I couldn't stay back and catch up with fellow rowers.

All in all, it lasted about 1hr 45m and was an invaluable insight into this generational wealth opportunity known as CMR.