RE:Dev DID NOT value 9.9% at $50M I agree. Can't believe so many in here are falling for this junk journalism. One mis-quote or non quote in an article written up by a joke of a writer and all of a sudden the sky is falling.
all I read is that FCU may be looking at the possibility of a strategic investor purchasing 9.9% of the company to help fund the expansion of RRR(R).
nowhere did Randhawa say the price tag for this 9.9% was $50MM
on the other hand he has stated that he feels FCU was worth $3, and this was prior to the latest hit.
you chicken littles need to pop a Valium or something.
life could be worse than sitting on 100MM+++ lbs of shallow, high grade U.
dufflite wrote:
Someone already stated this, but I want to re-state it so it does not get lost in the noise of posts tonight.
This is important, so read carefully.
The article states: As an alternative to takeover, Mr. Randhawa said he is keen to sell a 9.9% stake in the company.
Now stop and think about this for a moment. Yesterday we were all abuzz about the prospect of linking 600W with 00. I said yesterday to draw your own conclusions on what the implications of this would be. Well, now you don't have to, because Dev has come out and said what we all hope for:
“If there’s continuity, the number [of uranium resources] is ridiculous. We’re getting towards McArthur River and Cigar Lake,”
I have bolded this, because it is an actual direct quote from Dev in the article.
Add up how many holes it has taken to-date to prove up the 100+M pounds of RRR. Add up the total cost of the last few years of drilling. It's a whack of cash. You want it drilled, then dilution is coming one way or another. Quakes put it well though, $50M invested into drilling is a fantastic investment. It can pay 10X that back if they fnnd what we think is there.
Instead of multiple rounds of private placements, why not sell 9.9% to take care of business up front? We know a $10M private placement isn't enough so why go through 3 or 4 rounds of it? Raise enough cash to land 6 or 7 drills out there right now, and just keep drilling. There is nothing stopping them. I was told yesterday by the guys on the ground out there that the conditions are ideal for this.
I'm going to quote another bit from the article, the one that has everyone up in arms:
"As an alternative to takeover, Mr. Randhawa said he is keen to sell a 9.9% stake in the company. That would allow an interested buyer to gain a foothold, and it would give Fission around $50-million to continue working on the deposit."
This one isn't in bold though. Know why? Because it is not a direct quote. Jack-as$ journalists need to take a few sound bites and whip together an article to fill the right column width on a page. So what do they do? A quick bit of math that says based on current market cap 10% shuld be worth about $50M. But, this is from the same guy who writes that "off-scale" radioactivity means more than 1,000 counts per second.
Believe me, most of you that follow this stock and this board know way, way more about what is going on with Fission than the author of this article. Ever been interviewed for a story? I have, and it's pretty comical to read the end product and wonder how they managed to put it together based on what you said.
So in the words of Aaron Rodgers, five letters here for everybody out there in Fission-land:
R-E-L-A-X.