Very well put. Your posts are very well written and educational. Keep them coming.
quakes99 wrote: Happy Saturday bulava! Thanks for the question.
The topic under discussion was a "merger" between Fission and NexGen. On that basis we were discussing the incompatibility of the 2 deposits with respect to their proven resource size and economics as published in NI 43-101 compliant Technical Reports. Nowhere in my post did I say NexGen does not or will not have resources of significant size and scale in a Maiden Resource or PEA. The point being made was about "timing" because the 2 deposits are in very different stages of exploration... PLS being more mature than Arrow. That's all.
Somehow that is being twisted into me taking on an "anti Arrow" position and I assure you that is definitely not the case. You will be hard pressed going through my posts to find one that dismisses NexGen's discovery. In fact you will find the opposite. Back before the first high grade hit at Arrow there were essentially only 2 posters on the NexGen bullboard that had looked at the initial drill data at Arrow and NOT dismissed the first holes as "dusters"... myself and ogshowtime. We both saw the potential in those pre-discovery holes and took positions while everyone else was abandoning ship (thanks for the cheap shares to those that sold). To this day I still hold a significant position in NexGen and I am looking forward to the day when they do release a Maiden Resource. No question in my mind that on speculation alone NexGen share price will do very well when U sentiment and U prices begin to rise. I am still long NexGen, for the record.
BUT, having said that, I do take issue with the NXE cheerleaders that come on this board and try to attack PLS and Fission Management in order to "convert" Fission shareholders into NexGen shareholders. That I find very offensive, especially with all the innuendo and baseless bashing that flies against all the independently published Technical Reports done by some of the most highly respected mining consultants in the world. All that really does is work against NexGen, turning Fission holders into NexGen bashers.
As nosleep constantly points out, BOTH deposits will do well in the coming U bull market, and the synergies they provide will help to make the construction of a new processing facility on the SW Basin a reality. There is absolutely NO DOUBT in my mind that as has happened at Key Lake, Rabbit Lake and Cluff Lake in the past... the construction of a new Mill beside an open-pittable U deposit with great economics that allow the mill CAPEX to be recovered in a very short time frame... is going to happen at Patterson Lake. There WILL be a new Patterson Lake Uranium Mining District at some time in the future, and the order of the production will go something like this, based on what we know so far:
1. A new "low grade" processing Mill will be constructed near R600W at PLS.
2. An R600W open pit on land will be developed to feed the initial production through the Mill.
3. The cash flow from the first few years of production at R600W will pay for the mill and provide the funds needed to develop an open pit at the R780E high grade zone at PLS.
4. Production will transfer from R600W to R780E to keep the mill running at full capacity, then R780E will provide all the high grade ore needed (with downblending from R600W low grade still unprocessed) for many years.
5. As R780E high grade zone is depleted, Arrow will go into development in order to provide the next stage of production at the PLS mill.
6. As R780E high grade open pit is completed, underground mining of lower grade ore is developed, while high grade ore from Arrow is being ramped up into production to continue to keep the mill running at full capacity.
7. Meanwhile, UEX/Areva have been developing Shea Creek (96M lbs) into production, and as Cameco did with McClean Lake Mill, Areva will fund expansion of the PLS mill to increase its capacity so that Shea Creek production can be processed as well. Ultimately, PLS, Arrow and Shea Creek, plus other new shallow high grade deposits also discovered in the interim, will be mined and processed... well beyond our lifetimes.
That's my vision for a Patterson Lake Uranium District based on what is known today, and if I can put such a vision together then you can be damn sure that others like Cameco, Areva, Rio Tinto, etc., are going to be doing the same. Historically, shallow open-pittable deposits get mined first, followed by high-grade underground, followed by lower grade ore as U prices allow the production to remain economic. This isn't some new rocket science. It's been done over and over before.
Read the guide that I wrote that discusses the history of Uranium mining in the Athabasca Basin and you'll see the future for PLS, as I see it.
Guide to the Triple R Uranium Deposit -
Updated 8 November 2015
Enjoy your weekend and good luck with your Christmas shopping!
Stay long and prosper!
bulava wrote: Serious question @quakes:
In 2013-2014, you endlessly promoted FCU with your own research, resource estimates, share price extrapolations, and potential mine plans: all without a published 43-101 RE or PEA, and based entirely on non-43101-compliant FCU news releases and your own analyses.
Now in 2015, NXE is currently proving up a massive resource next-door, and you immediately apply criticism on any estimates that support NXE in the same way you did for FCU.
This exemplifes why no one takes your posts seriously.
Although your attempts at 'managing the message' on the bullboard have been clever, thankfully you have been exposed time and time again.
Its quite entertaining watching the spin-machine crash. Pass the popcorn.
quakes99 wrote: A merger with NexGen is totally ridiculous! They have no NI 43-101 Maiden Resource Estimate, no Preliminary Economic Assessment... NOTHING... NADA... Just News Releases and their own in-house estimates along with non-compliant guesses by certain Analysts.
We just got rid of the Denison and Overhang anchors. Why would we want to dilute ourselves against a completely unconfirmed and unquantified resource?????? Nuts!!!!!!!
We can talk when they have that Maiden Resource Estimate published and a PEA to go with it. Fission is at least 18 months ahead of NexGen in proving up, confirming, and de-risking the resource through an independent Resource Estimate and PEA.
Fission is the real deal with the reports done by Canadian Institue of Mining standards, filed on SEDAR. Stick with what you know is verified... not with what you don't really know (yet).