smells like success, page-6

hi ozelectro,

you have listed the shares/options which will be issued on certain milestones. i doubt this should make inclusion in the market cap. thats 320 mill shares/options.

at the point where they have
1. have proved up a massive JORC and
2. have hit production of 30 000 tonnes for the month

then by some basic calculations should see ura getting $2-2.5mill per month. if they get this (that's a big if) you'd agree that the market cap and hence the valuation and share price will have to be significantly increased.

if you are going to include the options in the mc you are making an assumption that they are going to be in play and thus also have to include the conversion price and money the company would gain from this.

cheers, dw