Alpha Minerals Inc ESOFD

RE:In who's favor it is.

[leverage1971]

Its a better deal for AMW and there are some subtleties to it. It is the 4th of September and so by the time the deal closes in early November the Fall drill program will be complete or nearing completion and we will have assays from the two monster holes drilled up in mid to late July.

The fact is you get a spinout, more shares of FCU (although that means more total FCU O/S), and in all likelihood you add Gunning and Ainsworth Sr to the Board of FCU to aid with the eventual sale to a major.

Ainsworth Jr. gets to go do what he does best explore... more on PLS for as long as it is around
and later on other properties.

Those hoping for 25 dollars a share for AMW or 5 dollars on FCU are out of touch as are those talking about the price of U308 in determining the overall price paid for pounds in the ground. Go back and read the excellent articles of Malcom Shaw... spot price generally has less influence than one might think. The price for PLS at 10.00/lb (totally conservative given its lower cost to mine) @ 60 million lbs total (HAT totals) is 600 million/2 companies... that is
just under 10 bucks a share for AMW and around 2 bucks a share for FCU. With only around
100 holes drilled. At 75 million lbs you get 12 bucks for AMW and 2.35 bucks for FCU. At 100 million lbs you get 16 bucks a share for AMW and 3.10 a share for FCU.

So what you will see is that from this point on those who want to wait for 25 dollars a share are assuming that we have something in line with Cigar Lake or McCarthur River already and that we will drill up over 150 million lbs of U308 on PLS... it might have that much and it might have more or less... no one knows at this point. What I do feel comfortable in saying is neither FCU or AMW will be allowed to get near that number before a major comes along and gives them
10 bucks/ lb for 60, 75, 80, even a 100 million lbs. If Dev or Gunning or Ainsworth can get a major to give us somewhere between 12-15 bucks for AMW or 2.4 - 3 dollars for FCU without a PEA or PFS let's have it

Lastly the current deal has been approved by Ainsworth and Gunning and so I have to follow their lead after all its their lead we all want to follow anyway
Lev