Hi Warlock,Thanks for the reply. True what you say. The origianl...

Hi Warlock,

Thanks for the reply. True what you say. The origianl Beverly deposit is of course 100% Heathgate so they just keep everything to themselves. They would still have to satisfy themselves of the grade/amount of Ur contained whether it be to the Aust JORC standard, some other standard or some internal company review

Regarding Four Mile - Yes, Heathgate/Qasar being private unlisted companies may not be under any obligation to report to the ASX under the JORC standard. But, if they're going to invest in the development of a new prospect such as FME they would nevertheless have to satisfy themselves (or their own 'investors' ultimately being General Atomics in the US) of the contained Ur amount/grades. Because AGS is listed and part owner, then there may actually be a requirement to report to ASX JORC standards. Not sure. I think so though. Based on what happened with FMW reporting. FMW was reported to ASX JORC by AGS, and as part of the JORC standard was independently confirmed I think by Coffey Assosciates. AGS being listed made the annoncement to the ASX. There is an obligation due to AGS being part owner.

But, what you say is to some degree true, JORC may not be a priority for Qasar, but will naturally become a priority due to their own desire to fast track FME into production. Granted, they control the drilling/timing and announcements are delayed as we have seen with FMW and now FME, or maybe AGS are just getting ahead of themselves as we know Qasar are drilling around the clock. I think you'll find that both Qasar/AGS work well together, have a monthly reporting/update meeting, and a both keen to bring FME to production asap. I think there's a perception in the market of AGS being disadvantaged, under the control of Qasar, and I take your point. Maybe we're getting too hung up on JORC's, announcements etc. The big share price increase will occur when they seriously get close to production of FME in 2009 and a regular cash flow (equals producer). I would take the other side of the coin and say AGS are actually at an advantage of having a JV partner who currntly export Ur from Australia, are world's leader in ISL production, and have an opeating plant 6km's away from the Four Mile site! Compare this to other Aust Ur juniour wanabee's - how long and what cost will it take them to develope a prospect, build and commission a process plant, get export licences etc etc. Sorry to waffle on, I usually don't post a lot, just some thoughts though