uranium spot price increase, page-5

Yes jeffy I noticed that as well, very suspicious that Paladin are very quiet on Bigrlyi. I suspect it is because they want to play it down and obviously hurt their junior JV partner.

A good strategy on their behalf as ultimately they probably would like to have the whole lot and naturally they dont want to pay very much. Paladin got burnt severely for paying an absolute fortune for the QLD stuff, and you cant even mine it yet. Now they are going on about their crappy Manyingee and Obagooma instead, most likely because they are 100% owned and were acquired cheaply so they can save some face. Bigrlyi is easily better as it has better grades and the full support of the federal govt in the NT and the NT is desparate to add to their growth. EME are unfortunately a 1 project company. Pamela and Angela is also very average and they have only 50%. Transport is not an issue in the uranum industry, it is such a small component of the overall cost as the shipped product tonnage is very small in 44 gallon drums.

The good news with it all is that due to the financial crisis, I am guessing that the expansion at Olympic Dam will not go ahead for a while yet as the capital is too huge for the times and copper demand has come off. People may well have realised this and it could be the reason the spot price is moving up nicely against the trend. It could also be all the talk about electric cars in the US as nuclear energy will be needed to provide a cheap source of power for the electric plug ins.

Interesting things must be going on behind the scenes, I expect EME to head upwards shortly on further development news and the ongoing takeover spec.

Good luck