RE:RE:NEW Fission Uranium PresentationGentlemen,
Please tell me what the opex will be using the average uranium contract price over the 2012-2014 term which is the average of the peer group actual cost. For a comparison to be valid, there must be a common denominator and since the U price is the assumption for FCU, the assumption should be normalized to the peer group. Can one of you either make this calculation or request that it be published in the spirit of accuracy of the representation?
PLS has a lot of potential and management has stumbled on the PR/Communications side of this project all year. Publishing comparison information that is not "apples to apples" is neither beneficial or valid. I'm looking forward completing the next financing, but I am fearful that management plans to wait until we are in deep need of it due to the SP pressure of late. The sooner they can start drilling the more opportunity to improve the SP before the dilution. We need to hear a plan to address the areas of risk and uncertainty in the much ballyhooed PEA.
The PEA has no cost escalation factor connected with the later stages of the development timeline and no contingency for negative results in the geotechnical analysis, which some have legitimately identified as a valid risk. The same is the true with the outreach and environmental work. If they do not address these issues, all we have is a whole bunch of holes in the ground that have delineated what might could possibly someday become a uranium mine.
I'm good for the rah rah, but I want to rah rah about the reality of where PLS is headed. I like that there is smoke in other areas and if we just want to explore, then lets, use the drill money to poke around some more and leave 780 alone for a while. If we want to advance the whole project, we need to raise a bunch of money, take the dilution and understand that the take out value of an economical project that is that much further advanced is well worth it. A defined and funded advancement plan is critical to SP improvement. Without it, FCU will be dumped by many by mid spring at the latest. IMO