LOI extension - pros and cons, page-24

And for a more recent update on how that mine is tracking along, fast forward a few years and here's where they at (after investing hundreds of millions more to actually to develop the project):

Uranium Mining at Namibia’s Husab to Start in May, CGNPC Says
by Felix Njini
February 6, 2015 — 10:40 PM AEDT

(Bloomberg) -- China General Nuclear Power Holding Corp., the country’s biggest producer of nuclear energy, intends to start mining at its Husab uranium project in Namibia in May and process the first uranium oxide next February.
“We have been clearing the overburden of sand and we will start mining ore from May onwards,” Percy McCallum, spokesman for CGNPC’s Namibian unit, Swakop Uranium, said in an e-mailed response to questions on Friday. “We expect to have stockpiled 1 million tons of ore by December.”
The $2 billion Husab mine, China’s largest investment in Namibia, will have the potential to produce 15 million pounds of uranium oxide when fully operational in two years. Namibia, currently the world’s fifth-largest producer of uranium, will overtake Niger and Australia by 2017 because of Husab’s production, Zheng Keping, Swakop Uranium’s chief executive officer, said in May.

Simple conclusion:

China likes Africa
China likes strategic materials
Graphite = technology = future strategic importance.

Run some quick figs. over the value of the Uranium deal and at 15 m tonne production per year that's rev. of about $600m. And what are we, about half that? Half of $2 bill (the final sale was for $2.4b) is $1b, 10 times that of our current mkcap and roughly about what SYR is worth - I'd take that! Just a taste of what we're sitting on here guys and how easily this can play out. Given how under developed this project example I've provided was at point of sale, we may not even be that far away from seeing these rewards, but nonetheless I emphasise PATIENCE.