npv of four mile, page-3

Hi R,

AGS wouldn't develop it, they would sell it undeveloped to Areva or Cameco, we don't need the Beverley processing plant etc

Steve Johnston pegged the lease area himself, AGS invited Q in, I think we tend to foregt this and think its the other way around due to Q having 75% JV (earnings) equity. If they break the JV agreement, which they're doing, a judge could look at this pretty simply and revert the lease back to the orginal leasee (AGS) with compensation to Q

H