DonnaI wasn't aware of the Uranium orientation. PEN and Black...

Donna

I wasn't aware of the Uranium orientation. PEN and Black Hills have received their mining licenses for U3O8, recently...thi is I believe a recognition of the US that they are using some 50 million pounds of U3O8 per annum and produce about 5mn pound pa...strategically this is not a healthy position...and most of what is produced is cy Cameco or associate company's.

So the move into Sentinel is a good move...the Moly there really improves the economics, I am a big believer in Moly.

Those others around Ann Mason are mainly Canadian aren't they? I am a SH in Nevada and they are about 60% of Ann Mson's resource.

The drilling in the step out and in the new licenses has only been 5-7 holes, all really showing if there is resource or not - this really has no bearing on much as it is way to little to be part of serious planning...however, the 5-7 holes showing that mineralisation does exist is good for long term planning, particularly if a JV partner is around...

MGO has carefully handled the need for north of US$1 billion, they have even had the lending consortium get a director on the board, so they get the inside oil...smart move from both sides...

I am not too concerned about the size of the money involved...the market is not listening presently and probably won't until the instos realise that the advice from Wall Street is completely out of step with reality, we are part of a super cycle. Even if China halved what it doing in terms of economic growth, it would still keep enormous pressure on commodities. What Wall Street has not figured is this simple fact and its consequence - China will +/- urbanise 300+ million people over the next 1-12 years...even if that wrong by 20%, that is almost creating an urbanised society the size of the US...the key thing though is this; this is in 10-12 years not 60 as it took the USA to get to 100mn by 1930, urbanised.

The funds are saying, through the talking heads on CNN, Aussie's SkyBusiness (what rubbish that is, who is Carsten anyway, booff head) commodities are due for a correction...this was somewhat self fulfilling if Lead and Zinc werre aything to go by. Copper however held up very well...well need to understand that the largest trading house in the world for hard commodities is Glencore, who directly or indirectly through their control of Xstrata have a substantial actual production to support their games trading.

Copper has held up well due to the stregth of the demand for copper. Lead and Zinc were not about to be so severely impacted by falling mine output, or mine closures or strikes as copper, so Glencore knowing this have traded these down through shorting of course...the cliche ridden 'analysts', if they can be called that of Wall Street and their acolytes in the reast of the 20 major nations followed these trends like leemings.

I have even seen an economist as a permanent soun bite in Aussie SkyBusiness channel, saying commodities are due for a correction...and he's in a nation who can not produce or ship enough out, the demand is so high! I should love to know what these people are taking, its damn good that's for sure, in the idoat stakes, that is.

Anyway, Donna, I believe firmly that particularly in Europe there is still some apetitite for large projects, Marengo (MGO) show that very clearly. The big investors what substance, a project with a billion+ tonnes of resource is one such project.

Maybe the Sentinal project can be got into production pretty quickly and without too much capital from what ever source and use that to strengthen the Balance Sheet in advance of tackling the bigger game...

I don't know, but I would like to know...