Fission Uranium Corp T.FCU

Alternate Symbol(s): FCUUF

Metals & Mining Industrial Metals & Minerals

Fission Uranium Corp. is a Canada-based uranium company and the owner/developer of the high-grade, near-surface Triple R uranium deposit. The Company is the 100% owner of the Patterson Lake South uranium property. Its Patterson Lake South (PLS) project, which hosts the Triple R deposit, a large, high-grade and near-surface uranium deposit that occurs within a 3.18 kilometers (km) mineralized trend along the Patterson Lake Conductive Corridor. The property comprises over 17 contiguous claims totaling 31,039 hectares and is located geographically in the south-west margin of Saskatchewan’s Athabasca Basin. Additionally, the Company has the West Cluff property comprising three claims totaling approximately 11,148-hectares and the La Rocque property comprising two claims totaling over 959 hectares in the western Athabasca Basin region of northern Saskatchewan. The La Rocque property is prospective for high-grade uranium and is located five km south of Cameco’s La Rocque Uranium Zone.

TSX:FCU - Post by User

Fission Uranium Corp

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Comment by teeveeon Aug 26, 2018 12:07am

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Post# 28518186

RE:RE:RE:RE:RE:RE:RE:$30 million left in treasury

The PFS and updated resource statement is scheduled for late 3rd quarter or early 4th quarter and that is only about 6 weeks away (I anticipate NXE adding another 100 million pounds to the resource, and also an increase in the proven category). Leigh has stated that the paperwork to sink a shaft will be filed immediately after the PFS is released. The proposed underground mine is quite small. If it is a year for the FFS, and say a year to permit, and 2 years to build the mine and mill, NXE could be in production as soon as late 2022 or to first half 2023. Leigh has also stated there are opportunities to contract above $50/lb now, so if NXE wants to debt finance against contracts, development debt capital would be available. Regarding the reactors completed 2022-2023, they need to start contracting very soon if not now so fuel bundle deliveries can be made to load reactors for startup.

dhcRadial985 wrote: Tevee, I agree with your point, but I don’t see that happening anytime soon. This industry is moving at a snails pace. Maybe 2022-2023 when a huge number of reactors will be completed. But can NexGen and FCU make it that long without running out of money?

teevee wrote: With the way things are right now, what CEO of a major producer would even consider FCU or NexGen? A CEO that realizes production from Arrow could displace all of Cigar lake and McArthur production from the next phases that need a floor of $75/lb to justify development at a cost of about $1.5 billion each. The current phase at Cigar is done in 2026. Arrow needs to think about building a mine and mill now, and start contracting production. There is a huge opportunity to grab 25-30 million pounds market share.

dhcRadial985 wrote: With the way things are right now, what CEO of a major producer would even consider FCU or NexGen? JMO!!!!!!

Bull4u2 wrote: I'm a lot more concerned about Nexgen's $million per week burn. They will have to go back and get more debt to ever think of financing deep underground mining. That's a big issue with them. Lots of debt and a very deep deposit. FCU looks a lot better.

teevee wrote: Is $35 spot u by year end 2019 slow enough?

Dreaminthedream wrote:
The number one issue for FCU shareholders is the dwindling cash balance.

If the so called Uranium bull market is slow and modest, FCU will soon be desperate. There won't be enough money to pay Dev and management.

So a share consolidation will be in the works. Then refinancing.

FCU's finances is a serious concern. You can ignore it but that would be foolish.