Recent Interview with Des and Ross https://www.metalsnews.com/t1261202i#.XKekDtMWSlM.twitter Things that stood out to me:
Talked about why not exploring drilling in the depth of the Bear market for U. If over $40 he would risk dillution and build the pounds, but for now, work tomorrow Feasability study. they have been cutting costs to avoid dillution at rock bottom prices - can't say this was wrong call while we are at these lows and still in a waiting game per below.
Again, 232 putting lid on stocks even when spot neared $30 (down a bit since obviously). I have seen Dev show obvious disgust in 2 or 3 interviews and panels about 232 because he feels that it is in effect a "subsidy" which I agree with to some degree if you put a quota on and/or tarriff that restricts ALLIES from selling USA uranium in any way. U from Canada and Australia is not the same as U from Russia or Kazakhstan IMHO. Canada provides electricity to USA from Hydro also does it not? Exclude Canada and Australia and other true NATO allies from these restrictions (otherwise I think it takes longer for Canada juniors to reap benefits of a rebound - although it would still happen - just more delays compared to US explorer or producers that get immediate double boost).
Big item that was news to me = CGN obviously owns 19.99% of FCU shares. SPROTT owns 10% and JP Morgan owes another 10%. Strikes me that this gives good balance to controlling interests - and most of that 40% will likely vote the same way for anything benefical they want to do - but also should re-assure those worried about Chinese pulling all the puppet strings.
Also mentions how much skin in the game Dev and Ross have - which re-assures ME that they won't sell this without making the deal of their lifetime (my biggest worry is that FCU is sold or taken over before it realizes the value I think it has - which includes both pounds found, and POUND yet unfound on this conductor alone - let alone all other property areas owned). I think that Dev and Ross feel the same way. If a management doesn't have that level of share ownership - maybe they don't care about what share price and when a company sells - if they get enough coin in their pockets. Dev says, and who knows how accurate this is - that he himself has $3 million shares (plus we know how many options Dev and Ross have) and that his average cost is $0.50-$0.60/share apparently. That is similar to many of the longs on this board - and those that continue to average in and build a position. So - I feel that they aren't in a hurry to sell their shares at 0.70 cents either....
Dev does see Spot returning to $70-$80 eventually, not $140 probably, but after 232 settles - $70-$80. He mentions FCU as a DOUBLE or TRIPLE - promoting the company to the average investor as a quick buy - but I sure want more than a double or triple at this stage and from these prices - BUT nobody can call him "$3 Dev" at moment lol - I like $3 bucks better lol!
He also said, on subject of supply cuts, that the Kazakhs cut production "12% depending on who you talk to" - and I still feel this is the key to any long-term super-bull! If they do as promised and cut 20% production = GAME ON - if they lie and keep building market share by flooding market while the Cameco's and Paladins shut mines, even with their recent IPO and theoretical desire for a higher spot price now - then Bear will be a lot longer and bull less aggresive I think.
PFS is now officially listed as "Early Quarter 2" - as it should be because we are in Q2 now.