seeing the wood for the trees, page-2

Don't you have much, much bigger issues to deal with over at your end?



Post Acquisition Investment Case

# One of the largest mineral resource bases in the USA

# 100 million lbs of U3O8 at 640ppm (0.064%) U3O8 – Hansen/Taylor Ranch and Acquisition Assets

# Exploration rights covering ~90,000 acres of highly prospective lands

# Multiple near-term earnings opportunities

# Control ~435,000 lbs of U3O8 in surface ore stockpiles at Shootaring Mill, Patty Ann and October

# 5.3 million lb Velvet-Wood Deposit; potentially permitted within ~12 months

# 50% interest in Ablation technology

# Commercialisation of technology that facilitates non-chemical concentration of uranium ore at the mine site, nearing completion

# Typically >90% of uranium recovered into ~10% of the original mass

# 100% ownership of one of only 3 licensed conventional uranium processing facilities in the USA

# 100% ownership of the Shootaring Canyon mill in Utah

# Could be re-started in ~18 months

# Minimises operating costs as no “tolling” fees