right.undervalued, excellent management team. excellent land package, undervalued sector, all time low stock price. Yes, I think you can say this stock was pumped. The information was pumped. I'll pump it all below again for you. Its all research. its all factual. its all no different than the guy getting on television for BNN's top picks. He gives his opinion, he gives his reason to support his call. Quit sucking boob cuz you feel like you missed out on another one. Heres all you need to know about this one.
Pitchstone Exploration Ltd. (PXP)
As of September 6th, 2011
Filing Date
Transaction Date
Insider Name
Ownership Type
Securities
Nature of transaction
# or value acquired or disposed of
Unit Price
Jul 28/11
Jul 28/11
Brown, Mark Thomas
Control or Direction
Warrants
11 - Acquisition carried out privately
197,500
.250
Jul 28/11
Jul 28/11
Brown, Mark Thomas
Control or Direction
Common Shares
11 - Acquisition carried out privately
395,000
.140
Jul 28/11
Jul 27/11
Woollett, George
Direct Ownership
Warrants
11 - Acquisition carried out privately
89,500
.250
Jul 28/11
Oct 17/05
Woollett, George
Direct Ownership
Warrants
00 - Opening Balance-Initial SEDI Report
Jul 28/11
Jul 27/11
Woollett, George
Direct Ownership
Common Shares
11 - Acquisition carried out privately
179,000
.140
Jul 28/11
Jul 27/11
Schwitzer, Eric
Direct Ownership
Warrants
11 - Acquisition carried out privately
107,000
.250
Jul 28/11
Oct 17/05
Schwitzer, Eric
Direct Ownership
Warrants
00 - Opening Balance-Initial SEDI Report
Jul 28/11
Jul 27/11
Schwitzer, Eric
Direct Ownership
Common Shares
11 - Acquisition carried out privately
214,000
.140
Jul 28/11
Jul 27/11
Blower, Steve
Direct Ownership
Warrants
11 - Acquisition carried out privately
20,000
.250
Jul 28/11
Feb 13/06
Blower, Steve
Direct Ownership
Warrants
00 - Opening Balance-Initial SEDI Report
- Amended Filing
Shares Issued & Outstanding
39,851,185
+ Stock Options
3,297,500
+ Warrants
1,688,000
Shares Fully Diluted
44,836,685
Insider Shareholding
20.07%
Public Listing:
TSX Venture Exchange: PXP
Legal Counsel:
David Gunasekera
McCullough O'Connor Irwin
Vancouver, BC Canada
Auditors:
DeVisser Gray,
Chartered Accountants
Vancouver, BC Canada
Bankers:
Bank of Montreal
Last Updated - December 31, 2010
January 18, 2011
Pitchstone Begins Athabasca Uranium Programs
Drilling has begun at Gumboot and Johnston Lake
Joint Venture agreement with JCU signed
Geophysics initiated at Darby and Candle
Pitchstone Exploration Ltd. (TSX-V:
PXP; “Pitchstone”) announces that drilling and ground geophysical surveying have begun on its eastern Athabasca Basin properties. A total of 4,400 meters of core drilling is planned at Gumboot and Johnston Lake during the January-March 2011 winter drilling season. Geophysical surveying is underway on the Darby and Candle properties.
Gumboot
Bryson Drilling has mobilized to the Gumboot property, 20 kilometers northwest of the Cigar Lake mine. A total of three drill holes will be completed along the five kilometer long Gumboot electromagnetic conductor. The conductive graphitic unit is the host to significant uranium, nickel and cobalt mineralization discovered by Pitchstone in 2009 (see September 9, 2009 News Release). Property maps are available at
www.pitchstone.net.
Johnston Lake
Three additional drill holes are also planned for the Johnston Lake property to follow up on the results of preliminary work completed during 2009 and 2010. This work highlighted a 2.4 kilometer long section of the MJ-1 conductor as being particularly prospective. Each of the three drill holes will test for extensions of previously intersected mineralization along the conductive graphitic unit.
Darby and Candle
A program of moving loop electromagnetic geophysical surveying is underway at Darby and Candle, eight kilometers west of the Cameco operated Cigar Lake mine. Discovery International Geophysics is employing new SQUID receiver technology to more accurately define the location of numerous conductors, including some that are along trend of Cigar Lake mineralization. This information will be integrated with other datasets to refine drill targets.
JCU Joint Venture
A formal joint venture agreement covering the Candle property has been signed between Pitchstone and JCU (Canada) Exploration Company, Limited (JCU). JCU is owned by three major Japanese corporations and has interests in numerous advanced uranium projects in Canada
.
Steve Blower, P.Geo., President of Pitchstone, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this news release. Gumboot is 100% owned by Pitchstone. Johnston Lake was optioned from Denison Mines in 2009. Exploration at Darby and Candle is a joint venture between Pitchstone and Uranium One Ltd. Candle is also subject to a joint venture agreement between Pitchstone and JCU.
About Pitchstone
Pitchstone is exploring for uranium in three proven districts in Canada and Namibia. The property portfolio features 11 projects in the eastern Athabasca Basin, Saskatchewan, three of which are 100% owned. In addition, there is a joint venture on two projects in Namibia and several joint venture projects in the Hornby Bay Basin, Nunavut. Pitchstone benefits from the collaboration of a unique group of geologists with extensive uranium exploration and production experience.
On behalf of the Board,
Steven J. Blower, President and CEO
Timing is also important. We remind investors that it's not just the production supply -reactor requirement demand graph they should be considering. It takes some time to convert U3O8 to UF6, enrich the UF6, fabricate fuel pellets and manufacture zirconium alloy fuel bundles before shipping the fuel to nuclear reactors around the world. Purchases must be done well in advance of delivery of U3O8 which in turn must be well ahead of requirements.
Nuclear build remains on its torrid pace. There are now 443 reactors in operation - seven more than one year ago. Nuclear reactors under construction and planned have increased 17% and 10% respectively YOY (Figure 11), according to the World Nuclear Association (WNA). This prompted the WNA to improve its outlook for uranium demand. YOY requirements are anticipated to rise marginally to 179.3 million pounds of U3O8. If you take a look at the trend lines of the number of reactors that are in operation and that are being planned, built and proposed, this continued to rise month after month. If you look at China, India and Russia alone, these three countries account for about 50% of the reactor build (Figure 12). Russia's goal appears to be nuclear power domination, and the country is essentially signing high-level trade agreements with foreign governments. Russia also went after Uranium One (UUU-T). Also, countries like Japan and Korea are building out their nuclear power efforts. We believe this access to supply is going to become a real concern for many and that uranium prices are likely to continue to rise.
Competition for security of supply is getting tighter very quickly. The Chinese are buying aggressively from the producers, Russian's are attempting to take over various companies, Korean, Japanese and French nuclear concerns are becoming fully vertically integrated and are actively seeking fuel by any means (JV, off-take, exploration) for end users that buy their reactors. India has barely gotten started. And the United States who has almost one quarter of the world reactors, uses 50 million lbs of U3O8 annually, and is essentially nowhere to be seen during what we believe are the early days of this buying frenzy. While production should continue to rise, we believe that access to uranium may be harder to find, particularly after the 24 million pounds of U3O8 from the HEU agreement secondary supply goes off line. Recently announced supply disruptions are constricting an already tight supply- demand balance. Unlike previous price rallies that dissipated within weeks, this bull-run has now lasted for eight months. This consistent upward price trend is providing incentive for buyers to secure their supply now in fear of having to pay potentially higher prices later.