lance drilling program successfully concluded, page-8

I believe there is a double dip benefit from all of this as PEN continue hydro studies. They must conduct 12 months of water analysis anyway for the environmental baseline study.

Basically this means they won't have significant additional costs incurred for the hydro studies as they will in part utilise the water analysis process already in place.

This is my understanding from past discussions with PEN management.

Also keep in the back of your mind PEN do not have a community consultation period or process to adhere to at Lance. This was made very clear by Gus and I confirmed as much directly with the environmental authority in Wyoming. They still have a permit process to adhere to however it is not as stringent as other locations in sensitive areas.

ISR = Low cost production and low Capex...

Yes I am a broken record on this but it is a fact that will display long term benefits that are going to be required to get this off the ground.

Lance is rapidly proving up a very large resource, the benefits of low costs will become evident not only in the project financial modelling but also in application and development. This in a country and location promoting uranium mining, regardless of which govt gets in.

A unique project indeed.

Bring on 2009!