Closer to 50mlb and there is scope to increase that significantly to 90mlb if they can negotiate with the JV partner who controls the other half.
There is no point doing a big raise at these prices in a depressed market to fund a drill program that likely won't get any traction with the market. How many Uranium names have you seen go backwards after drill results?
I think they are better trying to progress the US assets as they are the most advanced and already have a large resource.
Meanwhile Uranium sentiment is taking off and overnight the spot price has run hard so expect a big day for equities today. A rising tide lifts all boats and that is definitely true for Uranium stocks.
Enrichment is the blue sky potential that could be a company maker that dwarfs the mining side, we just have to wait for newsflow on that one.
