• Management Team

    When it comes to management teams, I think we want to know three things:

    1)   Is the team an “exploration and development” team?

    2)   Do they have the ability to build a mine and have they done it before?

    3)   Are they investor friendly?

    My answer to question 1: Exploration and development companies find, build, and sometimes…[Read more]

  • The purpose of this study is to valuate Denison Mines (DML). As Matt Anderson pointed out in the UEC discussion, it would be highly useful to have multiple company studies going on in multiple threads. Participation from all members is strongly encouraged. Before we begin,

    FULL DISCLOSURE: This study, along with the Fission Uranium discussion,…[Read more]

  • Hey guys, this company http://www.peyto.com has recently come to my attention and I would like to get others input to see if there is some underlying value here.

    Here is a brief description of the company:

    Peyto is an explorer and producer of unconventional natural gas in Alberta’s Deep Basin. Our industry leading cost structure and focus on…[Read more]

  • If you agree to the Uranium Thesis and you have deduced that there is a probability for a merger, sounds likes its time to deploy some capital.  I would encourage you to consider http://www.sprottglobal.com, and purchase through TSX, not the OTC.  Mainly because there are more buyers and sellers on the TSX and it has a lower spread generally between t…[Read more]

  • Thanks for your comment, Maurice. Though I feel like I haven’t done a whole lot of work other than copy and paste information found online haha. Thankfully, Michael, Rick, and Matt have all pointed me to the right direction and I have learned a great deal in a short period of time. There is still a lot more to learn though! Judging by the c…[Read more]

  • Jonathan, well done!  In my view Fission and Nexgen will probably merge and or get taken out.  I love the arbitrage opportunity for both, as I am of the opinion that they will not develop but rather focus on their niche, which is expanding their respective mineralized trends, which Fission has already accomplished this drill season. If you su…[Read more]

  • Jonathan, well done!  In my view Fission and Nexgen will probably merge and or get taken out.  I love the arbitrage opportunity for both, as I am of the opinion that they will not develop but have rather focus on their niche, which is expanding their respective mineralized trends, which Fission has already accomplished this drill season. If you su…[Read more]

  • Hi Jonathan,

    I would assume fully diluted would be better since management will more than likely issue many more shares in the future as part of their funding requirements. Hopefully their deposit will continue to grow and keep pace with future share dilution, all things being equal.

    Also, your after tax net present value of  $1.91 is based on…[Read more]

  • Sorry gentlemen, I forgot to divide the NPV by Issued and Fully Diluted shares. Which is more useful for our purposes?

    Issued Shares

    Pre-Tax Net Present Value of $1,814,796.30 /484,597,994 = $3.74

    Post Tax Net Present Value of $1,019,893.75 /484,597,994 = $2.10

    Fully Diluted Shares

    Pre-Tax Net Present Value of $1,814,796.30 /533,047,994 =…[Read more]

  • Rick/Craig

    In relation to Spencer Abraham I would agree with Rick on this, uranium can be a politically sensitive commodity and having your own political fox in the government hen house makes sense to me (I am not here to change the world just my world)

    I would like UEC much more if it merged with energy fuels , Rick is that a merger with a…[Read more]

    • My suspicion is that both Energy Fuels and UEC are likely pursuing the Cameco US assets recently put up for sale. But the merger you describe makes complete sense.

    • @rrule

      Should both uec and energy fuels start bidding each other up in their pursuit of cameco sale assets then a merger makes sense sooner rather then later. Unfortunately I don’t see it happening they’ll keep burning G&A costs which could be combined and then to add insult to injury possibly bid each other up on
      acquisitions.

      Regards michael

    • @ragnar
      A risk.We see managers as stewards of our capital, they see us as sources of capital

    • @rrule

      Rick May I ask the first time you met John borshoff at the diggers and dealers convention in kalgoorlie what level of grade and confirmed pounds in the ground did he have via paladin at that stage of your relationship, can you remember market cap value of paladin when u first financed them and the value of per pound in the ground at that…[Read more]

    • @ragnar
      I met John at Diggers and Dealers in 1998, and the Paladin market cap was below AU$1,000,000. They owned a Calcrete hosted de[posit in Australia that might have had 5,000,000 pounds delineated, but large exploration potential . Of more value, they had a Uranium exploration database assembled by two West German companies, that represented…[Read more]

    • “In relation to Spencer Abraham I would agree with Rick on this, uranium can be a politically sensitive commodity and having your own political fox in the government hen house makes sense to me (I am not here to change the world just my world) ”

      I make a distinction between two types of corruption.
      (1) Defensive Corruption. This is when…[Read more]

    • @rrule

      Rick the obvious question to John at the time would have been 1 is this to good to be true and 2 why on earth didn’t the west Germans push on and get it done themselves or was it the classic bear market wipe out bringing Mr opportunity to yours and johns door when no one else cared. Can you remember the industry cost at the time for pound…[Read more]

    • @ccspencer

      Hi Craig

      I’m a realist before a libertarian and the reality is 1 there will always be a government if enough liberty minded people are successful in a monetary sense perhaps government policy can alter course to suit a liberty agenda

      Mr Abraham got a job because of his past political posts, this upsets many liberty minded people…[Read more]

    • @ragnar
      I have no objection to defensive corruption. [Except that I would prefer that it not be necessary.]

      Whether “liberty minded people [being] successful in a monetary sense” advances any desirable agenda, especially their own personal well being, depends on whether they do so by creating value or stealing it. That is realistic.

    • @ragnar
      In the late 90’s uranium had been in a ” bear market since 1982 ( Three Mile Island) and almost everyone, including the Germans had long since capitulated. All the past work was free

    • @rrule

      Free is a beautiful word, Rick for a bull market to be the author of a bear market the 1982 – early 2000’s bear market must of been proceeded by a real rip roaring bull market in 70’s or eighties, I can’t imagine chernolbyl doing much to help the market recover in mid 80’s either. I’m guessing after a 20 year bear market supply…[Read more]

  • Thanks for answering my question as to the nature of the contribution Mr. Abraham might make to UEC..

  • Craig

    I save my ideology and narrative for liberty.me. My preferences are not investment fundamentals. Political and social risks are the two largest risks in mining, a particularly acute factor in Uranium mining. The commercial reality may be u uncomfortable, but my job, in that part of my life, is to make money for my clients.

     

    Yes, Mr…[Read more]

  • Do you really think a political crony like Spencer Abraham is an asset for an otherwise legitimate business? If so, is that because of a cynical valuation of his connections and corruption or do you think he can actually add any economic value.

  • Do you really think a political crony line Spencer Abraham is an asset for an otherwise legitimate business? If so, is that because of a cynical valuation of his connections and corruption or do you think he can actually add any economic value.

  • First, in an honest and candid discussion, there is no disrespect, always” fire away”!

    As to UEC, I believe that their Hobson processing facility puts them in effective control of a uranium district,with 2,000,000 pounds per annum of current production capability, but the capacity to increase that production to 4-5,000,000 pounds in the right…[Read more]

  • Rick

    Amen your preaching to the converted here (with me) in regards to markets work, iirationally must of the time but markets always seem to sort themselves out in the end with regard to supply, price and demand

    We’ve had the cure for low prices in uranium that being lower prices. Let’s hope Mr market is just as irrational and messy on the up…[Read more]

  • Michael

    In the near term, people forget that markets work, and people, including managers, can be expected to act in their own self interest. The fact that the uranium  price must go up in five years is of less consequence to a management team than the prospect of generating enough cash ( even at an operating loss) to pay their own salaries.…[Read more]

  • Hi Rick

    Point taken on the Kazakhstan supply side, I believe our Kazakhstan friends also had 2 substantial currency devaluations over the past 3 years so perhaps they are now seeing sense on the supply side and that winning the last man standing contest by depleting valuable resources makes no sense

    With regards to renewal of contracts between…[Read more]

  • Michael

    The Kazakhs framed their action as market related. In fact, it was a deferral of sustaining capital investments that would be simple to reverse. The younger managers in particular, realize that at today’s Uranium prices, even after time value of money calculations, that leaving uranium in the ground, makes better economic sense than…[Read more]

  • Rick

    Loan shark or not you can’t buy your experience in a shop and it ain’t your first rodeo so I value your opinion and thank you for sharing them with us on this forum it’s very much appreciated on my part Rick

    With your research into the 60dollar all in cost of uranium worldwide are you concerned that the numbers may be shall we say difficult…[Read more]