nice move, page-34

"I don't believe Gus and team will sit on their hands waiting for better days to get us to production. Current spot price economics aside, there's a lot of other strategic benefit from being a producer by 2015 than a "near term producer" waiting for dance partners"

Zubana - I agree, there is no way Gus would want to 'be sitting on his hands'. But he may have no choice at the moment. He probably finds himself in a Catch 22 situation. He needs an offtake agreement to secure capital to build the plant. But in the current environment, the price of any available offtake agreement may not be sufficient to provide the collateral to secure the required amount of finance. (And, of course, there may be no willing partners for an offtake at the moment - due to the large amount of material available at spot).

This, of course, will all change when the U price improves and as we get closer to the shortfall years, late 2016 and beyond).

The timing is where I disagree with you. Securing both a sufficiently valuable off-take agreement(s) and the required development capital in the next couple of months is possible but would be a miracle in my view, given the current industry trends and metrics.