Thats a pretty good summary of the situation ckanego. Uranium is not in any respects a rare or hard to find commodity and from 2013/14 onwards there will be a hell of a lot of it coming onstream worldwide to meet the forecast demand from new reactors coming online.
BMN is ideally placed to be online well before the demand/supply equation evens out though so should be able to lock in some long term contracts at reasonable prices. Thats the hope anyway. If there are substantial delays, infrastructure problems and/or further cost blowouts then BMN falls back into the pack.
As long as we can stay ahead of the pack it still looks rosy but there are certainly risks involved. Margin is key to these low grade/ bulk tonnage deposits and if margins slip then look out. You only have to have a detailed look at the history of Rossing to see the downside.
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