Yes phillip we were told that a FLT would be up running 2nd half of 2007, it has been frustrating and we have had to accept that the time frame of the approvals process was beyond the control of CUY. And yes we need genuine and meaningful directions and timelines.
Now they need to prove they can extract uranium economically before any offtake and finance arrangement can be put in place.
I don't think the FLT as we know it will happen, they will conduct a series of tests, and then in a minimal test plant, prove it works then go down the path of a 400-500tpa setup.
I would also like to know about the other nearby discoveries and other regional discoveries that have to b followed up. What were these discoveries where were they and what were the drilling result?
I've been happy with the prudent approach by this co and the fact we haven't been diluted with capital raising after capital raising, hopefully this will reward once production is achieved. I've notices the volume in buy and sell depth increasing.
CUY Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held