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Hi Wargfang


cutting and pasting my own spam from July


Taking the numbers I posted on EME board assuming corporate action valuing stocks between USD$5-$10/lb in-ground U3O8 then Bigrlyi might be worth between $0.80c and $1.60 to EME (based on the current resource).


lets go with $8/lb so maybe $1.28/share.


so much would depend on how any offer was tabled...ie are they just interested in the stake in the Bigrlyi JV or the whole lot? I would hope for more cash if it is the whole of EME with some decent prospective ground with very few holes in them.


getting back to the $1.28/share, this would be worth near enough to $1.80 to JRL vs 60c it was trading at prior to the halt/suspension.

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hi OG


I have been talking more on the EME board more than JRL board but I would stay fairly comfortable with it all.


The suspension might go a bit longer but it should be a case of EME working with lawyers to tie up the deal.


It should be a scheme of arrangement assuming it is all of EME going. This means that with 75% shareholder approval it is a done deal. Something JRL, MD and Kale Capital can deliver.


Alternatively, the sale of Bigrlyi will still need the approval of shareholders and once again lawyers will be involved.


It might depend on whether the interested party has had access to the books to do due diligence already or not. It might be an indicative offer pending DD.


It might be that there are two parties or possibly three offering up.


I am aware that the MD has spent time in China and possibly Japan over the last 12mths. I understand that Korean companies have taken a position in Denison and either or both are by no means worth ruling out.


Paladin are completely ignoring reporting on Bigrlyi which is at odds with their own chair's position/belief about the deposit so you can draw your own conclusions as to their reasoning for "slow playing" Bigrlyi.


I hope it isn't much longer but I am happy if it goes another 2 weeks so long as firm offer is on the end of it (with a premium for control of a quality asset).

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I dont think Lindsey Dudfield will do a bad deal OG.he's got a big stake in this play and he and others have been waiting quite while.

I think it will be good news.

JRL is undervalued by some margin as wolvy and jay in particular have indicated numerous times in the past.

I have no idea of whats on the table but it is a potentially corporate transaction.That could many things but in any case i think it will translate into a higher price here and at EME.

Even if it falls over the SP should go to another level knowing its genuinely in play.


I trust whatever news come out allows you to be in profit.

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Thanks Wolvey and Balance. Dont think the news however good will bring me black ink but the expected improvement will be nice to see Could never understand why this was always lower than "valuation' a real unloved stock I,ll just keep them anyway. Dont have enough for it to be a significant hassle.
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