No decisions have been made and there is no assurance that this exploration will result in any specific action.

We want to continue to aggressively focus on top-line and bottom-line growth and carry that into fiscal 2007, and that would certainly be my mandate.

We think it is. After years of industry consolidation and tight financial conditions, uranium exploration has suffered and there will be a time lag, perhaps as long as five to seven years, before the supply side can fully respond. Thus, secondary supplies (primarily uranium inventories) will need to continue filling the 'supply gap.' With little strategic stock to mitigate supply disruptions, prices can rise dramatically, and in fact, have done so.

I think that, based on the lack of exploration that we've seen in the last few years, that we will see high gold exploration at least being maintained for a few years.

We will be aggressive in exploration, but it depends on rig supply.

There will be increased merger activity as global energy companies find buying proven reserves more promising than exploration and development.