1. Although the risk of not raising much needed money is real,...

1. Although the risk of not raising much needed money is real, but company can still get the money if current share price having fallen below the underwrite price. This is the risk that underwriters have to take. It only take three days for us to find out.

2. The skyrocketing of sulphur and sulphuric acid price is just a tip on iceberg of soaring input costs to any mining projects. I am 100% sure that it cannot stay forever, but so is the high uranium price. Uranium is not that special.

3. Soaring sulphuric acid costs does not always translate into higher uranium price. The balance of demand and supply of uranium, and sulphuric acid decides the uranium price and sulphuric price.

4. The the nature of low grade ore could be fetal for BMN. The uranium recover value is less than $30/t ore at current spot price.

I cannot say it cannot make serious money out of it if making it a huge project to take advantage of economy of scale. But it always is been impacted very sensitively by:

a. uranium price
b. input cost
c. delay in schedule due to the natural of large project

A small variation of any of the above could end up with huge change of the BMN's value. BMN's value has been inflated by the rosy picture painted in the scope study, but it could easily be deflated when things turn against it.

Currently, the share price discount all the perceived negative factors around. I appreciate if anyone can name just one improved situation for BMN from 6 months ago.

Unfortunately, some of the posters here cannot accept what is so obvious, and hope for long-term. This is fine, so why so worry about short term?

I have negative view on long-term uranium price, but it could easily be wrong because far out future is harder to predict than near future.