GREY:ESOFD - Post by User
Post by
Chattycon Jan 03, 2013 3:10pm
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Post# 20793794
Brien Lundin likes AMW!
Brien Lundin likes AMW! Lundin says buy Alpha Minerals
2013-01-03 14:55 ET - In the News
Brien Lundin, in the December, 2012, to January, 2013, edition of the Gold Newsletter, says buy Alpha Minerals Inc., recently $1.47. This is the first time he has recommended the stock. Alpha is exploring the Patterson South Lake project in Saskatchewan's Athabasca basin, under joint venture with Fission Energy Corp. Recent drill results from the project include 12.4 metres of 2.49 per cent U3O8 and 22.5 metres of 0.4 per cent U3O8. Mr. Lundin says the results are good, but when the JV released them, investors pulled both Alpha and Fission down. Earlier, the JV had released immensely impressive scintillometer results, which pushed their prices up and set such high hopes. The editor explains the average drill result, 16.2 metres of 0.83 per cent U3O8, is comparable with results from other Athabasca deposits. Moreover, the Patterson South Lake deposit is closer to surface than others. Mr. Lundin notes UEX and Areva's Shea Creek project in the basin contains over 90 million pounds of U3O8, representing a value of $3.6-billion, assuming a uranium price of $40 a pound. He says if Patterson South Lake is like Shea Creek, then Alpha could rise to 30 times its current market cap of only $20-million.