wcu - mine approval given yesterday, page-11

Buddha's argument is compelling Kbear but i agree it would be a shame to have to 'sell the farm'

The optimistic view is that WCU heads nth of 50c in the near term, given a tight share registry and launching into production.

Also, i'm not sure how GDN shares in escrow until 2010 would play into the equation?

Some very rough figures below to be thrown around:

10,000,000 pounds uranium - estimated resource

Current price $US51 per pound - forecast to rise

Cost of production around $30 p/pound

Net 10 yr net cashflow(?) = 200,000,000 + RISE in prices

WCU market cap = $1.00 (+ uranium price upside)

GDN holds 45 mil shares

The wild cards will be the mid term uranium price /forward looking projected earnings forecast by WCU

and/or surprise upside on RPS estimates and flowrates etc

Should make for an interesting next few weeks.

Cheers