I think we were all surprised when this last sat at 13.5c and we...

I think we were all surprised when this last sat at 13.5c and we had 38Mlbs.

We've now got 85Mlbs + improved grades + Areva + extension to resource + imminent metallurgy and scoping study + broker target of 36c (based on just those 38Mlbs) ... and we're back at 13.5c.

80c/lb for our bulk tonnage, near-surface deposit, in a country conducive to U308 mining and production, and with existing infrastructure on our doorstep? Yes, please.

Seems to me that there are two factors at play here:

(1) Market does not have enough evidence to say that the 85Mlbs is economical. They do not understand the screening/scrubbing/and leaching technologies that allow our ore to be upgraded into a commercial product.
They will. And hopefully soon.

We can benefit from technologies that likely only apply to a small group of similar ore bodies (and I'd count us alongside Trekkopje and L.Heinrich in that regard).

(2) Our Russian friend looks like he is trying to hold this under 15c to deny management their options. He may well have the shares to do it ... but if anything revelatory comes from the scoping, the market may just foil him.

Similarly, if an ii decides to gobble him up on the open market post-scoping ... well, he'll could be shooting himself in the foot letting go on the cheap.

One things for sure. With 85Mlbs in the bank, and a positive scoping under our belts, the Russian is giving new investors (and those accumulating) an early Christmas present at this price.

Are you going to trade the improving fundamentals, or the SP movement?
I know which camp I'm in.

Good weekend all.