Yup - this is all good for SMM shareholders. Areva is not only a...

Yup - this is all good for SMM shareholders. Areva is not only a huge corporation, but they will also be the means of a guaranteed offtake for Summit's uranium once it is mined. Plus, if anyone else wants in, this deal has just raised the bar by a serious amount!

The big question now, of course, is what will Paladin do when their initial offer expires on Monday? I suspect they'll just let it lapse, and move on to BMN, DYL, or EME. But who knows?

And of course - will RIO, Cameco, etc just sit on their hands? Cameco in particular would be very concerned by this, as Areva will be taking Summit's uranium by preference instead of Cameco's. So not only does Cameco currently have a supply problem with Cigar Lake, they are staring down the barrel of a demand problem once Areva get priority supply from Summit.

My but we live in interesting times.... ;)