this only credible thing about mtn, page-25

MTN has just lost all credibility in my eyes.
The answer to the economics of mining the Paralana Ore System is in ERA's 2004 annual general report.
Ranger 3, an existing mine has a cut off grade of 0.12%
Jabiluka (an underground mine ) has a cutoff grade of 0.20%
I would suggest Mt Gee if it were above ground would be more expensive to mine than Ranger due to the ruggedness of the area.

So approximate grade 0.15% for open cut or 0.20% for underground. If you use ERA's figures

Another method is under the JORC Uranium Code the cutoff for a subeconomic inferred resource for Uranium is cost of USD$130/kg.
An economic inferred resource is USD$40/kg (as defined by JORC 2004)

The MTN JORC Report has a cutoff of .03% which should approximately equal an extraction cost of USD$130/Kg.
For the Paralana Ore system to be economic costs must be USD$40/Kg
Therefor 0.03 *130/40 = 0.0975%

Don't forget this is a cutoff grade,
Average grades will need to be much higher to justify the startup costs.

Sell MTN and Invest in Beer $30/carton. and get 30c back when you return the empties.
A whole lot better than HIH or Onetel Plus beer is an investment you will have fun with. I'm Bailing out of MTN and investing in beer.