time for reflection i think, page-65

From Uramet's half year report dec2009

"Evaluation of company drilling results and subsequent
interppretation of the geology,estimated the potential tonnage of phosphate that may be located within the Marqua project area to be circa of 20 million tonnes.

Having regard to the remoteness and lack of infrastructure
located in the Marqua area phosphate tonnage well in excess of those currently estimated
(within the northern part of the marqua area)
will need to be identified in the southern part of the
marqua area in order to justify further work on this project.

Further drilling is required to assess the southern part of the marqua phosphate project area.The company is currently seeking to attract joint venture partners to carry out further drilling to test the phosphate potential in the southern part of the Marqua Phosphate Project Area."

At least no dilution through j/v now.