Fedexpress,The Andersons deposit has NOT been factored...

Fedexpress,

The Andersons deposit has NOT been factored in.

Effectively the valuation metrics that the brokers are using to value the takeover offer are only taking into consideration Valhalla and Skal - thus giving an EV/Resource of $US23.63lb (at the time the offer was made).

The SXR UO paid for UrAsia valued their resources at $US31.61lb.

The valuation of $US23lb does NOT take into consideration, the "100% mt Isa Deposits" - Andersons, Mirrioola, Watta, Bikini, Tjilpa, Warwi and the other additional 15 known mineralised deposits.

It also excludes:
- Isa South (9 contigious tenement applications ).
- Georgina Basin (greenfields Uranium)
- Isa North (Base metals)
- May Downs (Gold)
- Constance Range (Iron Ore spin off)
- Mt Kelly (Copper)

IT IS ALSO ASSUMING that SMM is only entitled to 50% of the Valhalla/Skal Resource.

The arguements that they are using is that it is a 25+% premium to ERA and PDN - and 20% premium over other Uranium explorers.

TheGimp