RE:RE:RE:RE:RE:RE:RE:RE:RE:Malcolm is right........Some thoughts to latest dicussion on the board here......
Haven't seen anything - someone mentioned they based a 2019 PFS on latest Corp Presentation - that PFS will be deferred to early 2019. Every interview shows a re-statement that Q4 2018 was still the goal/plan.
Now, NXE AND DML have come out with there's already, and since then the share prices for both, after nice initial bumps, have fallen quite a ways back down. Part of continued disconnect, general Canadian resource and energy stock bear market, and overall stock market correction going on. Nice to see big analyst firms looking at U positively and upping Cameco to buy with significantly increased price target (from $15 to 20 in one case I believe). Would be nice to see FCU, NXE, and DML do the same and i think they will catch up slowly. If spot goes past $30USD I think we will see a good pop - just my guess....
FCU wisely decided to wait until assays came in from their summer drill program so the economics might really improve from the conversion of those last rich 780E zone pounds that were still inferred into indicated. That will help with the updated RE for the PFS pounds anyway and improve economics. We need that so we waited. NXE had plenty of pounds, they did NOT include Summer Drilling - because they already have plenty to make numbers look good. That is one reason they got their PFS out earlier. The PEA already tightened the grade of pounds they were including in the indicated category (one reason the number didn't increase as much in terms of RE last year). I think they upped the cutoff to 0.30 (from 0.05 or 0.10 - would have to go back and check).
DML's was a nice report because of cheap mining method they plan to use. They already have mill access on East side of basin, etc - so their NPV and IRR looked significantly improved.
NXE's figures weren't massively different from their PEA the year before, but there were some improvements, and just like FCU's, they have millions of pounds not included in PFS calculations, nor does the NPV and IRR take into account what is 99% likely to be shared mill and infrastructure costs on the West side of the basin with FCU.....
So, there is no hurry, since, of the big 3 Junior Explorers we are coming out last with our PFS anyway, AND the general stock market is correcting at the moment. In the meantime Spot price is at 30-32 month highs and macro Demand and Supply news gets better day by day. That being said, I expect we will see FCU PFS in next few weeks or latest Jan 2019. I haven't called Investor RElations at FCU lately - should do that and ask.....surprised nobody here does that often anymore - if they don't suspect you are one of the many trolls they are actually great to talk to.
Also, Dev came right out and said in an interview a few months back that they might go the debt route to raise funds next time out. I too would suspect that woul be mid 2019 to end of 2019....
They likely won't dilute further if share prices remain this low - they and CGN will borrow for a couple of years.
FCU has scaled WAY back the drill programs. Down to just winter and summer programs and those are down to $4 Million-$5 millinon per drill season - just go back and check the news releases. The PFS was budgetted for around $ 10 Million IIRC. That is now mostly done.
I too would suspect the goal would be to expand the two zones that are not under the lake to the West and expand and infill drill those into significant indicated shallow high grade pounds UNDER LAND - those will be the long-term economics game changers as they will defer costs, and provide a bunch of other advantages......
I think there is enough money for 2 more drill seasons - depending on what is left to pay for PFS completion - and then I HOPE they borrow rather than add more shares - enough shares are out there anyway. Borrow for 2 years and if and when U bull is in full swing and we are at $3/share - then raise funds and pay off some of the debt.
I would love to see them drill heck out of west side of the PLS conductor - to me those shallow, still high grade, under land pounds are the key to really moving the chains.