u308 is the future, page-25

The few points I do agree with is that PEN is probably closer to production due to lower funding requirements etc, and from that perspective is probably less risky than BMN.

Probably?

In terms of establishing connections, credibility, assigning P/E ratios (conservative fund managers' requirements), revenue streams and possibly even dividend payments, and leveraging all of the above to make additional acquistions, I'd say light years.

And $638 million (to say nothing of inflation) is still $638 million.

That needs to be dissected, justified and found.

And cash costs of $42 per pound is still $42 per pound (who knows where it might end up?).

Furthermore, Etango is open pit, whereas Lance is ISR, requiring less pounds in the ground.

May 13, 2011 (Bloomberg) -- Uranium prices may trade from $70 to $75 a pound next year after problems at Japan's Fukushima Dai- Ichi nuclear power plant are resolved, Fletcher Newton, a vice president at Uranium One Inc., said in Beijing.

The price of uranium oxide concentrate for immediate delivery will be from $55 to $65 a pound this year, Newton told Bloomberg before a conference today.

You simply can't build a uranium mine at these prices, Newton said. When Japan starts to experience a power shortage this summer the world will look at it and realize that the issues we face are the same as before in meeting nuclear power requirements. New uranium mines need a price of $85 a pound before they are economically viable, Newton said.

http://news.businessweek.com/article.asp?documentKey=1376-LL463S6JIJUV01-6VP0H2NO0TJPOQ143HMB5GQVAH


Then there's the Namibian curve ball.


Juxtaposing the two, it's PEN in a canter.