UEX Corp UEXCF

how things have changed/look back to 2010

[ustocks]

Sep/2010  share price  90 cents  (a drop  from $9  )

``UEX Corporation (TSX: UEX; Pink Sheets: UEXCF)
UEX Outlines the 58B Deposit and Expands Mineralization at the Kianna Deposit, Including Intercepts of 12.40% eU3O8 Over 3.7 Metres and 1.39% eU3O8 Over 34.3 Metres - September 21, 2010

Slowly but surely Shea Creek in the western Athabasca basin is becoming one of the most significant undeveloped uranium projects in the world. In this part of the basin the unconformity is pretty deep (about 600-800 meters) and so building a mine will be no small feat. If it weren’t so, UEX’s joint venture partner AREVA would probably have lobbied for a construction decision by now. Even then, advancing the project toward production will make more and more sense as the Shea Creek resource exceeds 100 million pounds U3O8 sometime in the near future. We note that currently worldwide there are only 5 major underground hardrock uranium mines in operation or development (one of which, Cigar Lake, has certainly seen its share of catastrophic problems). AREVA did operate the Cuff Lake mine near Shea Creek in the 1980’s and 1990’s and it does operate one of the few remaining underground uranium mines, at Akouta in Niger, but the mining there is relatively shallow at around 250 meters. In any case, it’s hard to believe that a company like UEX can still be down more than 90% from its all-time high achieved during the short-lived uranium boom of 2006-2007, but we suppose this shows how much room there is to the upside if and when the uranium boom returns in the years ahead. We hope to be there (not too far) in advance with companies like UEX firmly planted in our portfolios. ``


https://seekingalpha.com/instablog/107341-david-zurbuchen/97351-mining-news-review-week-of-september-20th