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Strathmore Minerals Corp STHJF



GREY:STHJF - Post by User

Bullboard Posts
Comment by easyryderon Aug 18, 2010 12:30am
586 Views
Post# 17359921

RE: Fundamental Research initiates coverage.

RE: Fundamental Research initiates coverage.From the Research report: Fair Value is $1.14
*

Conclusions &

Rating

Risks

Company Symbol EV/Resource*

1 Fission Energy Corp. TSXV: FIS $2.43

2 Mega Uranium Ltd. TSX: MGA $1.59

3 Calypso Uranium Corp. TSXV: CLP
.79

4 Uracan Resources Ltd. TSXV: URC
.63

5 Pele Mountain Resources TSXV: GEM
.43

6 Strathmore Minerals Corp. TSXV: STM
.36

Average ($/lb) $1.04

FV of STM's projects with resource ($)
.82

* Resource estimate includes 100% of measured/indicated, plus 50% inferred/historic

resources

As shown in the table, STM’s shares seem significantly undervalued compared to its

peer group.

Adding the market value of Bayswater Uranium shares, working capital, and the book value

of STM's other investments, we arrived at a fair value of $1.14 per share.

Valuation Summary

FV of STM's projects with resource ($) $73,089,343
.82

Working Capital $25,500,000
.29

Value of Bayswater Shares $2,565,228
.03

Book Value of Investments $131,150
.00

Fair Value $101,285,721 $1.14

Based on our valuation, and review of the company's projects we initiate coverage on

STM with a BUY rating and a fair value of $1.14 per share. We believe it is a good

time to invest in uranium companies. After being out of favor for some time, we believe

that recent positive industry developments have started to switch investor interest back

Bullboard Posts