thanks for the analysis... i hold but i'm wondering how U3O8 is...

thanks for the analysis... i hold but i'm wondering how U3O8 is graded for sale...

In the ann 22nd Jan 07, the performance hurdle on page 2 states:

"an inferred resource of a minimum 5000 tonnes of U3O8...must be delineated in respect of the tenements, and (it) shall have a grade of minimum 0.03%"

so in terms of the performance hurdle, by my reasoning, 5000 tonnes @ 0.03% = 1.5 tonnes of 100% U3O8.

Does it need to be 100% U3O8 for sale?

if so then 1.5 tonnes = 2200 pounds @ $50usd = $110,000USD

then we have the performance remuneration of 35,000,000 performance shares... at 6c a share = $2.1M which seems way out of line compared to the value of 100% U3O8 in 5000 tonnes @ 0.03%

i'm the first to admit i don't have a grasp on the grade that U3O8 needs to be for sale but i would think that 0.03% grade would need to be refined somewhat to attract $50usd per pound?

any thoughts?