less than four months to initial jorc, page-6

Conventional miners also have the problem of variability of resource grade. With current U prices their profitability would be shot if they are digging out low grade resource, meaning more mined tonnes for the same qty of end uranium. Thus at the moment i would imagine they would be mining their high grade resource to keep up profitability given their high fixed costs. However this also means that if U prices do not move up, so that they can move on to the low grade resource, then they are left with more and more of the low grade resource.

ISR mining does not have the above problem. It can absorb lower U price becuase of low fixed costs and make windfall profits when the u price moves up.

JJ