must be more to it., page-2

*****All speculation, please read it as such*****



Hi Wild Turkey.

BHP is set to spend something like $6bn on expanding Olympic Dam.

This area (U3O8) is an area that RIO have been quite deficient in and with the current boom looking like it has real legs for the long term they (RIO) have had to re-assess their position.

They will be hunting for good acquisitions that they can use strategically build a solid U3O8 business from, they will also ultimately be looking to take on leases that have potential for organic growth beyond a few hundred thousands lbs.

IMO RIO MUST adopt an aggressive stance to build its Uranium business if it wishes to continue the challenge BHP Billiton for market share.

End users are also likely to be supportive of competition within the mining and milling businesses!!

This situation looks like being even more critical with the likely failure of Cameco's Cigar Lake mine which would have supplied in excess of 10% of the World's U3O8 within two years.

The race is on, and BLR is in the right place (30 miles to the Mill with numerous high quality prospects) with the right resource (yet to be proven but likely) at the right time!!

*****Like I said, this is all just speculation for amusement only *****