hold the line, page-2

Dear mr hammond

If only the market was as rational as you are. I have a feeling that the market is saying: "there is no evidence that the nuclear industry will really survive - the price of uranium is staying in the doldrums despite an appearance that Japan is back on the nuclear trail - SMM is running out of money and will need to raise some more to stay afloat etc etc. All seriously silly arguments. With that in mind I do not consider my SMMs a good investment. What we need is a stronger U price - nothing more nothing less.

W2