paydirt conference

The presentation at the Paydirt Conference in Adelaide was good. We were well represented - Dennis is a good and confident speaker. He showed off our holdings - it's an impressive set of tenements. The Cable Guy, Emset and I sat through about two and a half hours of presentations from various speakers, then picked up the free lunch. I came away with a better understanding of how much work there is to do to get from U exploration to U production. There is a long way to go. Just finding the mother loads is likely to take time - we'd be very lucky to hit good grades on the first few drill holes in my opinion. Like all other ARU holders, I've read Kalmsg's descriptions of our U holdings, but when you see the visuals displayed on a big screen, you get more idea of just how much land there is to explore and how different each style of deposit is. It's no wonder we've got a 2 year drilling plan. There is a huge enthusiasm for Uranium at the moment (rightly so), but (and I hate to say this) buying and holding for the long term may not be the best strategy except for those companies close to production. Having said that, I've no doubt NUP will do very well in the short term if Lucy Creek has good results (well duh...).

One speaker spoke about how this U boom is not like the dot com boom - it has real substance but many small players will fall by the wayside.

There was a Canadian speaker who discussed research showing that small doses of radiation actually seem to be good for you. I've read similar studies and the evidence is compelling.

Another speaker discussed the legal requirements and restrictions on Uranium producers (nearly fell asleep during that one) - basically we can't just sell to whoever we like.

It was a great pleasure to meet the Cable Guy at last. Emset and I and a few other Adelaide ARU/NUP holders plan to invade the Barossa (where Cable Guy lives) soon and teach him how to play golf haha.