NI 43-101 Report and Leaching Results..Spoken again today with the COO of CUE (Healey) and - unfortunately - expects the NI 43-101 report will be delayed another 6-8 weeks due to technical problems with one of the three drilling rigs as well as bad weather and a road access issue at Yuty. He assured me though that these issues have all been resolved now, and it is simply a matter of time until RPA will have enough info to deliver the new resource estimate for the property.
He did also say that the initial heap leach testing results are finished and should be released shortly - also, said that Cameco is pleased with the results to date, as is he.
While I agree that CUE remains hugely speculative, I would point out that:
A) Cameco is on board
B) Healey has quite a bit of experience
C) CUE isn't exploring, they are delineating - a potentially massive resource that was abandoned when U prices collapsed
D) Paraguay can be considered both a plus and a minus - plus in that it won't have the regulatory problems of other areas (and could probably even be leached with acid), though negative in that it is remote and who knows how the natives will view foreign investment/capital
While I don't like Damien Reynolds much myself either - I must say he generates returns. Look at Warratah Coal, Nevada Copper, and - even still - Oriental Minerals. While I despise his trading practices (particularly in LV), Reynolds does achieve some impressive results/publicity... Mega Moly (MGY) will also show ~1,000% for LV when it next reports results for the last quarter - pure hype and shady accounting, but those returns will still catch people's attention regardless...
Like I've written time and again though - if there are 20-25 million pounds there and Cameco proceeds in developing it, CUE could be a 20X bagger.
I still like those odds, and will continue to add more CUE on any dips if given the chance.