RE:Forum Takes On Copper Prospect As much as I like to see that Forum is not limiting itself to uranium assets (ie. having more than one iron in the fire), it is reflective of the overall sluggishness of the uranium sector and the lethargic U spot price. I don't think the company can execute and spend much on drilling or exploration at today's prices, plus it's hard to be forward looking when in such a prolonged down-turn.
We certainly didn't see the seasonality play pan out this year, so the "pop" that many had expected in the U-sector has not materialized. This, despite the curtailment and shutdown announcements by some of the majors. I know it's still early and I like long plays, but I'm not keen on optioning a copper project. I think Forum would been better served developing its portfolio of uranium assets, rather than committing cash to a project that they won't likely ever bring forward to production.
There's an absolute ton of copper plays out there and I did some digging on Janice and could not get excited... to me this seems like an odd move by management and leaves me wondering if they are simply looking for something or anything to provide shareholders with. Especially during a time when they really don't have the capital or incentive to accelerate or significantly progress many of their quality uranium prospects -- which do exite me much more, btw.
Unfortunately, to me, this looks like a misplaced cash expediture and share commitment / dilution... but I'll reserve final judgement for another day. Still long on the quality uranium assets they possess and happy to wait as long as it takes for the next U-boom.