RE: 16.00+?Hi Fred:
The one thing that I noticed, when I did my research on uranium mining in Australia, is that this country seems to have a strong national sentiment against nuclear power amongst its populace. Not only it does not have any nuclear power generation, it also have a self imposed "three mine limit" on uranium mining to limit the proliferation of nuclear power to the rest of the world. Even though uranium would be strictly a "cash crop" to them, and opening up the country for uranium mining would have no bearing on introducing nuclear power locally.
This is a clear case of a national ideology of its citizens opposing nuclear power of any form.
And ideology is a tough nut to crack - just look at the problems in the world today. I don't know where this mindset comes from, may be the famous novel "On the Beach" had something to do with it (a story about final days of life in Australia as its citizens prepared for Armageddon after a nuclear war had destroyed the northern hemisphere and the nuclear clouds are now heading towards Australia - a great book that Hollywood actually made into a good movie).
Anyway, if I am in your situation (sitting above water) I would take a wait and see attitude as well. However, my experience with gold mining stocks tells me that with speculative stocks when the good news stops, share price would start to erode gradually and the gains generally do not hold up for very long. You just have to be very alert in this regard.
By the way I noticed that you have a few posting on the CGP Board as well. I have a position in CGP also. This is a company with "a lot of lines in the water" and it should catch at least one fish - hopefully it is a big one!!