Hard to think straight when I'm watching all my dosh go up in...

Hard to think straight when I'm watching all my dosh go up in smoke.One consolation is that it's only paper losses,ha,ha,ha.
Got on the phone to John Young right after the ann' was posted and the SP got hammered to 2.5c.Still mulling it over in my head,but like I said it's hard.
On the positive side:

1.Coal is a good diversification for the co',imo,being a one trick pony,especially in u3o8 atm post Fukushima holds too much risk.Just look at PDN down to $1.42 from a high of $5.00,and at PEN,the one time market darling and the next cab off the rank to producing, down to .04 from .16.They're an ISR outfit with low capex and low opex,but they're having to rework to make the economics stack up.
Why USA and not in their backyard--lack of infrastructure(rail and port capacity).Plus it's early entry(seed capital)amounting to around $200,000 with a possibility of backing it into MEY down the track.AND with the global demand for coal forecast to increase.And it's good coal(my words not his)coking and thermal.He did get technical here but it meant nothing to me.
On a side thought don't you think it ironic that the huge influence the 'greens' have over nuclear power(look at Japan,Germany,Italy,Switzerland) has resulted in the whole world ramping up coal power.And the pollution.
2.They're also evaluating other projects in Nam' .Rare earths were mentioned.
3.Further cap raising is not on the table,yet,around $2mil in the bank and still the 'MOU' with Hanlong to fall back on(In addition, Marenica and Hanlong have entered into a Memorandum of Understanding (�MOU�)
encompassing longer-term feasibility and development funding, off-take arrangements and potential
cooperation on future strategic acquisitions in the uranium sector. )
On the not so positive:
1.the expected ann' is delayed till early October to finalize the metallurgy and beneficiation.Good and bad here,MA7 is not that huge but beneficiation is looking at a head grade of up to 900ppm.
So on the whole I think it's a smart move and when more detail comes out it may give the sp some impetus,because for sure the uranium side of the business will be in the doldrums for another year or longer,demand has got to improve as has the price of uranium.
In hindsight I should've taken profits in late 2010(I'll follow my dear old Mums' advice in future)but that's life.
I'm still bullish on uranium,you'd have to be with all those new reactors in the pipeline,and on MEY.They've got app' 140m/lbs,the beneficiation will make a big difference to the economics,and they've got what many others haven't---two influential big brothers.

I don't believe the conversation was confidential,but that my memory of the facts and figures is accurate.I'll urge anyone with concerns or questions to give him a ring.