Alpha Minerals Inc ESOFD

Spot price and PLS

[infocounts]

From the Comments section accompanying Malcolm Shaw's latest article on Patterson Lake South: (Shaw replying to a question from sc21): 

"The thing that sets Athabasca Basin deposits apart is their scale and their grade. In the case of Patterson Lake, having both the potential for big scale, at high grade, and at shallow depth is a bit of a trifecta. It is interesting to think about the fact that the Cluff Lake mine (~60 million pounds mined at 1% U3O8) located 60km to the north of Patterson Lake, produced over a 20 year period when uranium prices ranged between $5-15 per pound. 

 

"Again, when it comes to something as shallow and high grade as Patterson Lake, it really stands in a class of its own. This is not to take anything away from in-situ (ISR) producers, but they are just different animals. Again, I think the key when looking at the deposits needed to fill the looming uranium supply gap is to forget about spot prices. No corporate or strategic buyer will be using spot prices when evaluating Patterson Lake... it's about securing high quality, large scale resources for the future, and I can't imagine a cheaper hard rock mining situation than something with the grade and depth characteristics of Patterson Lake."

 

Link: https://seekingalpha.com/article/1485021-a-primer-on-uranium-revisited-the-patterson-lake-project-has-come-a-long-way#comment-19748412