Ann: Presentation London and World Nuclear Association Symposium, page-19

I will go along with your comments, PB. The interesting thing, now, is the gradually escalating U3O8 price as against the flagging VMY sp.
Frankly, an investment in VMY has been a disaster for EVERYONE at today's sp, show me a winner.
The 'obvious' answer is that VMY is a buy based on institutional forced-selling, we've all heard the message, BUT, I'd like to ask if anyone has any thoughts about the expenditure on the Alligator River project? I know, we must do R & D, which is what this is, and the last capital raise was for progressing the Alligator River project, but is it prudent, while VMY's sp is in a hole, to go out and blast our last remaining funds up against an uncertain wall, when, whatever the result, more funds are going to be needed in the not very distant future if we continue on this course?
I'll assume, for the sake of the exercise, that VMY has 'letters of comfort' in the event of disappointment at Alligator River.
B22.