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Fission Uranium Corp T.FCU

Alternate Symbol(s):  FCUUF

Fission Uranium Corp. is a Canada-based resource company. The Company’s principal business activity is the acquisition and development of exploration and evaluation assets. The Company is a resource issuer specializing in uranium exploration and development in Saskatchewan’s Athabasca Basin in Western Canada. The Company’s primary asset is the Patterson Lake South (PLS) project, which hosts the Triple R deposit, high-grade and near-surface uranium deposit that occurs within 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises approximately 17 contiguous claims totaling approximately 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin, notable for hosting the highest-grade uranium deposits and operating mines in the world. The Company also has the West Cluff property comprising three claims totaling 11,148-hectares in the western Athabasca Basin region of northern Saskatchewan.


TSX:FCU - Post by User

Bullboard Posts
Comment by LinkLeisureon Jan 31, 2019 3:33pm
107 Views
Post# 29303242

RE:RE:RE:RE:RE:FCU Accelerates Towards Feasibility Status - 28 New Holes

RE:RE:RE:RE:RE:FCU Accelerates Towards Feasibility Status - 28 New HolesAgreed, the Dec 31st $20 Million in the bank - is for getting to Feasability - saw on twitter an article from Mining Journal suggesting FCU is "fast tracking" to Feasability - trying to really get as close as possible over these next 6 months. I do agree with you that derisking is good overall and adds value to every pound! I just feel the difference between under land pounds that "could" be "open pit" (currently labelled as underground which - if we use the original Economic Assessments is $15+ per pound extraction cost - compared to $2.5 or so for the open pit high grade stuff at 78oE). This is why I harp on the Feasability study likely will be out of date because the mining plan only will encompass 780E and 00E and combines the economics of open pit AND underground. I am not complaining or being critical - this is somewhat the same for every mining company doing these studies (NXE probably has a lot of high grade pounds that didn't show in PFS) but economics affect NPV and the overall appearance of the profitability - (which is why I also keep saying FCU should MARKET more the insanely low cost of extracting the high grade open pit pounds, not the overall average cost). Another example of economics - where you mentioned DML having held a bit more gains because they published their PFS - well - I agree to a point - but I think the big thing for DML was HOW MUCH they improved the economics by designating ISR mining process to an estimated mining cost of $3.33/pound. Amazing and very attractive. How many current or prospective investors in FCU know that the open pit portion of 780E has even better mining economics than THAT - I bet very few.... At this point in time it is a minor rant on my end. I am just wishing that the mining plan and pfs/feasability study COULD include the new pods to west - as I think in the end those will REALLY move the needle, the whole economics (starting mining on the west side and using cash flow to slowly build berm would also be a huge savings in interest costs, and deferred expenses and maybe other synergies, like using the material extracted from west to build the dyke/berm). None of that potential (I have no idea if it would work - but seems reasonable) is factored in now, nor will it be in Feasability study - I think that affects FCU more than some other companies. After the ear-marked $20 Million is gone (which could be quick here) - then my point is I'd rather see them borrow like NXE did, than have to raise money at 0.55 a share - yuck - heavy dillution again....borrow now - raise money when share price is $2 range like the average target price is please. Just my hopes. I do agree that having a Feasability study in hand, that could be tweaked or that covers a portion of the overall property (and the rest could be spun out, etc) IS better than another $25 million pounds - agreed. Very good point. I am not complaining that we will have a pfs and feasabilty study soon - just hope we don't get undervalued in the end.....
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