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 tiger6301on Apr 08, 2020 11:55am

74 Views

Post# 30890514

RE:RE:RE:NR - $10M financing with Sprott

Hi Troyahorse,

I completely agree with you. This deal shows how deperately our CEO Dev is. This is really BAD deal, 10% interest + 20 miillions warrants. This shows how credidable our management is.

We all understand this is a difficult time, Dev and Ross show us some leadership, please cut your FAT salaries and consulting fee 50%, beside you are only working part time here since you have many other JOBS.

I am working for a heavy construction company, the owners have let some people go, and the remaining staff's salaries are cut to 50%.

tiger

Troyahorse wrote: @Greenday: Are you sure the market liked this financing.
FCU could have gone for $5 M secured line of credit with any bank @ 2.45% right now.
That is $122,500 in annual interest that divided into 12 months is $10,208 monthly.
By paying say $20,000 month you are repaying interest plus capital ($240,000 per year VS more that $1M per year)
That scenario will also not require a limit of 4 years repayment limit, neither having to give 20M warrants at .17
In my view the only winner here is RR
U Spot is close to $30lb today but FCU is heading down again ;-(
Can someone explain to me if I am wrong in my premises here regarding possibilities of much better financing in this difficult times. I just don't get it.
JMHO