U Spot price, page-123

Nice post (and tweets)

Every story has a beginning, middle and end but, I don't know if you guys have noticed, Murray never seems to talk about the end of the EL8 story. The plan is "we find Uranium, firm it up, and then lets see" where-as most other juniors plan is "we find Uranium, firm it up, and then build a mine." This has changed a little bit recently to "we might process on site and send to Hussab" but not ever talking about building a mine or what the end game was made me a bit hesitant to invest ... until I saw how much they were finding and then it became a no brainer anyway.

There's nothing wrong with El8's approach - I just think they know they're an explorer and that's where their expertise lies but maybe it's frowned upon to say "yes, we're going to sell to someone" .. hence why you never see the end of the story in the presentation or hear it in any interviews.

That's why I'm a bit indifferent to the U-grade (let's face it) ore sorting process because I don't think EL8 will ever use it direct. It'll be part of a sales pitch of selling the overall company based on "you mine this lower grade material, put it through U-grade to turn it into super high grade, then put it on a truck and take to Paladin/Deep Yellow/Hussab/etc"

And that's why pounds in the ground is the play

(on the other hand, I don't know anything, so am probably completely wrong.)