looking and learning, page-2

welcome paul h,

just a few corrections

page 21 stipulates that spending will be 19 million dollars until the end of 2012, not 37 million as you stated.

i would expect that with the current ("unimaginable drill results being achieved by uranex post fukishima" - these were the words of paladin ceo john borshoff whilst presenting at the australian uranium conference in perth 2 weeks ago) drill results continuing that a resource estimate will be received early next year. this will be the instigator for a vast re-evaluation of this stock

cost to extract is very low with mantra's latest figures being 20 per pound - remember the long term price is 70 pound - so that is $50 profit - remember we are working in the same fault line with very similar mineralisation - i would expect similar costs for uranex to process per pound

grades being achieved are world class in unison with low extraction/processing costs - once a resource is proven this thing will be snapped up in an instant - we have only drilled 61 holes with another 200 coming by the end of the year

cash in bank is an issue that will take care of itself in the next couple of months - there will be no problems raising money however lets hope the market settles and this thing can move higher on great results - we are on the radar with plenty of options - just keep the drills in the ground and the story will unfold

director options etc are par for the course - however if you have an issue ring management and speak to them directly - better still come to the meeting in melbourne in 3 weeks and vote on the issue - i will be there in attendance asking my questions

matt