GREY:STHJF - Post by User
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ChickenBoneon Jan 09, 2006 8:16am
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Post# 10137078
STM $4.29 at $35/lb
STM $4.29 at $35/lb STM $4.29 at $35/lb Posted By: gamebox
Post Time: 1/8/2006 17:45
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From https://www.stockinterview.com/stm-bambrough.html::
In late December, another of Bambrough’s favorite uranium companies, Strathmore Minerals (TSX: STM; Other OTC: STHJF), announced it had “engaged National Bank Financial as its exclusive financial adviser to review transaction alternatives to maximize shareholder value from its uranium assets.” Questioned about this news release, CEO Dev Randhawa told StockInterview.com, “National Bank has the best technical team and will help us reach the right decision to maximize the benefit to our shareholders.” In a December 7th note to his subscribers, Canaccord’s David Pescod wrote, “We talked to Dev Randhawa of Strathmore Minerals because Strathmore seemed to be the one company on most people’s list as an obvious take-out target. When we talked to Dev, obviously he wouldn’t be adverse to a take-out as long as the price is right, and he even gives us a 50/50 bet that they won’t be around in the next six to twelve months.”
In a 2005 research report (https://www.cohenresearch.com/reports/stm.v_07-13-05.pdf),, the Cohen Independent Research Group set a price target of C$4.29/share for Strathmore Minerals, based upon the current spot uranium price.
Note the C$4.29/share target is based upon the following assumption in the report: "Church Rock is estimated to have 6 million pounds of recoverable uranium."
January 4th's new release on Church Rock states "The 43-101 report provides a new resource estimate which has increased to 11.8 million pounds of U3O8 from the historically reported 6 million pounds U3O8."
The 78-page report is 6 months old but does provide a lot of info about STM, its competitors and the uranium market in general.