sinking like quicksand atm, page-18

bmn was bargin buying anywhere under EV$1/lb, maybe even higher.

work it out 150ml lbs, and 30mill cash

200 mfps, x .6 = 120,-30=ev of 90

90/150 = 60c/lb.

The market is just waiting for the panick and shorts to finish, find some solid ground, and then we should see some sort of reversal.

cw EXT 260mill lb, EV 242mfps x8.20-59m cash =1925
1925/260 = $7.40/lb

cw MRU 47mill lb, EV 109mfps x 4.40 -20cash = 460
460/47 = $9.80

When the russian nukes program runs out in 2013, going forward into 2014,15,16,,,,and energy markets need to fuel their reactors, come a defficient in supply, what contract price will any reactor fleet be prepared to pay?

I dont think 100/lb is out of the question, and while MRU and EXT have better grade, although, BMN minerology is quite simple, crush and sulfuric acid extraction.

If we poe, assume that the BMN PFS $38/lb (5 year) vs others maybe 10 bucks worse margin, and i guessing for the other two,

when the contract price might be 70,80,90,100??

we are talking margin bw the BMN and the other two exapmples of 32,42,52,64 cw 42,52,62,72.

At BMN 60c/lb cw EXT 7.40/lb and MRU 9.80/lb

If MRU current EV positon is 9.80/lb, and they make a sale margin of 42-72/lb,

and BMN current EV position is 60c/lb and they make a sale margin of 32-62/lb.

It is evident to me, that more upside exits in BMN EV position.