UEX Corp T.UEX

RE:sounds familiar

[Spydogs]

kcmkcm wrote: In the mid 90's I bought stock in a company called Pioneer Metals (psm).  It languished.  In the early 2000's psm recognized the coming uranium bull and spun off a new company called uranium exploration (uex).  I was given one free share of uex for every psm share I owned.  Just like that I owned two companies for the price of one. "Create value for shareholders" was the phrase they used 15 years ago and it is the same phrase they are using today.  They see a raging bull market in cobalt on the way and want to take advantage of it like they did uranium 15 years ago.  I'm betting on a spin off and loading up.  

Yup!  Free!  Correct me if I am mistaken, but I remember that PSM was a gold exploration company, discovered the uranium, found out how much they had, and eventually joined with Cameco to create a new company UEX.  PSM kept all their Gold Mines, and all Uranium mines went to the newly formed UEX.  We retained all our shares of PSM, and got the same number of shares in the new UEX, for free. So very similar situation here and would make complete sense for the same process to occur.  But......it took years from the initial discovery, to the formation of UEX.