Re: Why don't Areva just buy it? What are they waiting for?
Scoping study and confirmation from SRK on OPEX.
Areva is majority owned by the French Government and any acquisition move will need to be done on the back of independently assessed numbers.
Then they will make their move.
None of us wants Areva to bid for the company just yet.
We need SRK to rubber stamp:
75Mlbs @ 500+ppm
<$35 OPEX
$100m CAPEX
It's also possible that John Young and Co. can get us closer to 100Mlbs in short shrift.
As for a 50% premium to current SP being cheap ... BGF capital has just suggested that 30c would be cheap ... and if our scoping confirms their figures, 50c would be cheap.
Personally, I'd rather see us JV our uranium with Areva in an off take agreement. I think we'd be rerated overnight on such an announcement. The whole resource would be derisked. Our Capex and Opex would likely be reduced further assuming we availed of Areva's infrastructure. And it would leave the company free to deliver many multiples of current SP when the uranium bull returns in force.
If I only wanted to make 50%, I would not be here.
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