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GLOBE URANIUM LIMITED

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GBE

Hi, with the world being engulfed in the Japan nuclear disaster currently I'm thinking there may possibly be a shift towards thorium as a nuclear fuel. From limited research it seems thorium is found within rare earth and mineral sands deposits. I was just wondering if any of the projects in malawi have any thorium present. Thanks.

monopolize

16/03/2011 EDT

GBE

With $4.9 mil cash in the bank, and a cash burn at $1.5m per quarter, will we still be able to complete 85% of BFS as previously stated (in Aug 2009 after Thuthuka Group entered into a JV for 10.6 mil USD to earn 25% interest) ? Thank you in advance for answering my queries.

GoldmanSux

08/02/2010 EDT

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GBE

Dear Mark,
GBE is currently trading at 22% below cash backing (That is 10m less 44m in the bank). Whilst I understand that cash is critical for a non-producer, may I suggest a buyback of between 7m and 14m shares at current prices. Less than 5% of issued capital, so not requiring shareholder approval. Current expenditures in total is about $2m a month, on exploration and development and corporate overheads.
GBE is fairly illiquid anyway. To buy back any decent amount of shares would have to be done slowly so as not to artificially push the price up. But as part of an overall strategy (keeping cash on hand for Kanyika, drilling other prospects, other farmins/acquisitions, $1-2m isn't much).

Also bear in mind that the interest we earn on the $42m ($40m by end of Jan.) is approx. $2.1m pa (which would fund the buyback). It is a very modest amount. But it does add value.
It also send a message message to the market about management's belief in GBE's value and says that we are cheap.
Buying back shares, well under cash backing, is always highly value accretive per share.

Cheers
Ken
GBE shareholders

06/01/2012 EDT

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