uranium price could reach $100 by 2013, page-12

“How can there be "not much of renewable resources left" ??”

Sorry guys obviously it was a typo … at 4 am at the weekend I meant non-renewable!! ;)

I agree with you that U is extremely abundant, but in extremely dilute concentrations in seawater, and to extract U is a very very costly process. It is true that the fast neutron reactors to extract U from water are already introduced overseas, but it is still very underdeveloped area.

The European Commission claims that known uranium resources would last only 42 years (they said 10 years ago) but with the increase level of uranium consumption it can be over within a shorter time frame. Obviously various agencies have quite different estimates though.

Nevertheless, at the moment the world is in a situation when the production continues to not meet demand and Australia has about 25% of the global uranium reserves.

Surely U can be found somewhere else but the grade is a matter and as you stated ERA has excellent high grade deposits. Thus a lot of potential for this stock IMO. Hopefully the management will address the water treatment issue asap.