RE:RE:Winter Drill Program
Hi RossMorley,
I am a shareholder since 2007 and mostly agree with your observations. 2 1/2 years ago I sold the vast majority of my PTU shares most of which I bought for half of what i sold for. That was the upside. The downside is as you say. NO discoveries. I'm certain Chris and Scott are a disappointed as any of us. I do however disagree regarding the Joint ventures. The Hook Lake agreement is still intact and they will be drilling the Hook Carter zone in partnership with Cameco and Orano with much optimism for a discovery. I see the exploration of some of their 100% owned properties as their response to what now appears to be a rise in the uranium spot price which is opportune. Overall what I do not like is the amount of dilution that has been created by raising money for the new exploration. Fully diluted shares are over 400 million. That's huge. With no discoveries is a consolidation coming????