JNR Resources Inc JNRRF

RE: Whats changed

[megphi]

Great post. I also understand there's a group wanting to get their hands on 3 to 4 million shares of JNR at $0.30, but nobody wants to sell them their blocks. I made it clear that I was not willing to unload my 1% ownership of JNR at $0.30. I'm hanging on for much higher prices because the supply/demand situation for uranium is the worst commodity problem that I've come across in my 15 years of investing. According to Cameco's last results, they will produce 20 million pounds of uranium from all their mining operations in 2004; however, they've committed to selling 30 million pounds. They'll have to buy 10 million pounds on the open market to meet their contractual obligations as everyone is exercising their 15% kicker since they've hedged forward below the spot price. There is no uranium out there, and this time the Russians don't have anymore nuclear weapons left to decomission and countries don't have any inventory to unload on the market.