. . . following latest assays.
EnergizeComments (10)
22m of almost 5% on the 00 zone. Best hole on that zone yet to come stay tuned. After the up coming summer and winter drill programs it would be hard to imagine this stock not 2x or 3x it's price. 16 May, 08:16 AMReply! Report AbuseLike0
Malcolm ShawComments (76)
For those wondering. Don't let today's lack of market reaction fool you. The latest results from Zone 00E (the best to date from on land, which appear to show the potential for a high grade feeder zone) only underscore the potential of the Patterson Lake project. The market apathy is shocking, but the silver lining is that it does create opportunities for those paying attention. Some investors may be waiting for the summer drill program, but to those investors, the logical question to ask would be, "What do you think is going to happen during the summer drill program?". Either all of the uranium at Patterson Lake has been found already or it hasn't. I'm betting on the latter, which seems like a pretty safe bet based on the number of undrilled radon anomalies, the fact that the boulder source has not been found (yet), and the rather large undrilled area along the 800m prospective strike length, particularly around the 390E Zone. Patterson Lake is the highest grade deposit found at such shallow depths in the last 30 years in the best uranium mining jurisdiction in the world... That seems like a good situation.
Of interest, here is a summer film on the nuclear industry. Very interesting. https://bit.ly/104nqlx
bobbafett38@yahoo.comComments (20)
I think most PM's that want to own Alpha Minerals & Fission Uranium already do-- and the people reading these boards are probably maxed out in their personal accounts as well. One could argue the stock is pricing in 15-20 million pounds of uranium in the ground already (though the shallow depth should garner a better valuation).
It will probably take significant summer data and analysts cheerleading a potential takeover to drive new interest. That being said, I'd rather be long going into the summer drilling program too. 16 May, 01:50 PMReply! Report AbuseLike0
Malcolm ShawComments (76)
In concept, I tend to agree with you, but in practicality when I compare the early data from Hathor's Roughrider with that from Patterson Lake, I can't help but notice the valuation gap of close to 100% on a historical comparative basis at a comparable stage of drilling. Dundee had a report out today outlining 28 mmlbs of resource (based on their assumptions) in the current drilling areas. Given that the project is currently valued at under $150mm on a 100% basis, investors are paying roughly $5/pound in the ground for Patterson Lake. In late 2011, Roughrider was bought for $11/pound for a resource that was on average about 3-4x deeper that what is being drilled at Patterson Lake, so the $5/pound valuation is "conservative" to say the least.
My point is that when we see results like those that were released today, some investors may wonder why the market doesn't react more. As you say, for those already in the name, it confirms what they already know. My point is that for new money, the risk-reward is getting better with every passing drill hole. 16 May, 02:52 PMReply! Report AbuseLike0
Link: https://seekingalpha.com/article/1406741-q1-drilling-shows-patterson-lake-makes-the-grade-literally#comment-18910191