RE: Thomas Weisel Report ??????????"
Ido not have any response. We do not comment on share price, up ordown.Ican advise you that we have near $80m in cash and have just received our mininglease on our Lake Maitland project in Western Australia."
Why It Matters: We believe that the financing risk to develop Mega Uranium's Lake Maitland project has virtually been removed. We calculate in total Mega has access to over $150mn in cash ($0.55 per share) which appears more than enough to move the Lake Maitland project into production. We calculate the capital costs at US$100mn of which Mega Uranium would only need to provide US$65mn assuming the Japanese consortium earns its 35%.
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