RIO, Cameco, Areva etc. Any and all of these will be having a...

RIO, Cameco, Areva etc. Any and all of these will be having a sticky beak over the next few weeks and months.

RIO's existing processing facility is 5 km away. The Rossing mine which is serviced by that facility is in its final years after 30 years of operation.

Rossing South is likely to extend that mine's life for another 30 years at least. A new processing facility would cost about $600 million to build. This cost would be saved by RIO in the event they take control of Rossing South.

RIO has two Uranium mines, Ranger and Rossing. Ranger is said to have a "for sale" sign on it at the moment which will reap RIO about 2 billion (apparently).

That leaves RIO with Rossing only. RIO will want to remain a player in the Uranium game, to do that they either need to replace Ranger or extend the life of Rossing.

Any offer(s) from RIO are likely to be scrip only.

My estimate is that the final successful bidder will pay about US$2 Billion for EXT and its assets.

Time frame is that it will be all done and dusted before 2009 is finished.