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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

Comment by Uraniuman308on Jun 25, 2023 8:36pm
112 Views
Post# 35513886

RE:RE:Consolidation Usually Followed by Private Placements

RE:RE:Consolidation Usually Followed by Private Placements

Greenday has been consistently wrong about all things FCU, no reason this comment should be any different.  Expect a future of further and significant equity raises with a corresponding fall in our share price over time.  It is a shame what has happened to this company.  JMO



Greenday wrote: @ ybacuo - FCU had almost $45M in cash as at March 31, 2023 and the development work being done currently isn't that capital intensive.  The cash burn will increase this winter when exploratory drilling of the property resumes but a $15M program would still leave about $30M in the treasury.  I don't see a need for raising capital in the immediate future.  

"At March 31, 2023, the Company had a working capital balance of $44,201 as compared to $40,860 at December 31, 2022. The increase in working capital is primarily due to net proceeds from sales under the Company’s ATM facility, partially offset by PLS program expenditures and routine administrative expenses."

 

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