RE:forseeable problem with FCULithInvestor wrote: I have a mining background and have been to both Cameco's Cigar Lake and Mcarthur River operations as well as Areva's Mclean Lake operation.
The biggest alarm that goes off when I look at the triple R deposit, is that it is all under water. Albeit, most of Camecos projects are under water as well... but they have a shaft developed (2+ years to develop) as well as an underground mine (years and years more to develop).
They talk about how it is only 50 meters from surface... but HOW MUCH of the resource is that close to surface? It looks as though with the model they show some of it being surface mined? HOW MUCH of the total resource will be surface mined? How do they intend to get permitting to build a dam and de-flood the mining area? How reliable will this dammed off area be with leakage etc?
With my background and what I have seen, I have many many questions about FCU's project that would need to be answered before a smart investor would deem this as a class leading project
Don't forget that R840 west is also overlain by the same 50-100 meters of porous glaciofluvial sediments that occur under R780E and R1620E, charged by ground water and Paterson Lake. The majority of FCU's resources are within 50-100 meters of the top of bedrock. I just don't see how these resources are economic, as the cost of mitigating radioactive ground water flows and then treating those waters, that will inflow through the top 50 meters of fractured bedrock will effectively sterilize those resources. When CGN finally "gets it", I expect they will quietly sell their FCU stock and move on.