RE:My E-mail To Rush Rare Metals and Myriad Uranium!I got an immediate response to my e-mail! Things do seem to be properly falling into place! I was told this much by Peter Smith, Rush's CEO:
"...Hopefully you can appreciate that there is only so much we can say. As you've stated yourself below, we really can't afford to say something material that has not been announced, and both companies are in the middle of some busy times.
Please be patient! Material news will make its way to you through proper, legal channels, rest assured.
A few things I can say (as it's all been disclosed before):
- We completed a property visit at Boxi with a new geo late last month. We are devising a plan for further work this fall, but nothing final yet. Work programs are being proposed and considered. We will certainly update if and when next steps are finalized.
- Rush still owns 100% of Copper Mountain but Myriad is doing a GREAT job full filling its earn-in obligations - we absolutely believe in Myriad and their team or we would have never agreed to an earn-in with them. As a side, Tom and I have been good friends for almost 30 years (we met in law school in 1996)!
- If Myriad earns its full interest, Rush still has a substantial remaining interest in the property, and will have received cash and shares from Myriad at various points along the way (please see the agreement announced Oct 20, 2023). By then, we expect substantial value should have been demonstrated in Copper Mountain and this should greatly benefit both companies (provided we get the results we are expecting of course). Both companies would presumably be in a decent position to raise capital going forward (based on their respective interests), and should Myriad decide to "buy out" the remaining interest, it would be at fair market value (so again, both Rush and Myriad benefit as a function of the value in Copper Mountain at the time). This is also reflected in the aforementioned agreement.
- As to the big questions, "which company is the better investment", I'd suggest BOTH are well positioned to do well going forward, but you'll need to make you own call should you need to choose one or the other. Some good points raised below, and there are many factors to consider, but again, we believe success at Copper Mountain greatly benefits both Myriad and Rush going forward.
I realize I've only answered a portion of your questions, and apologies for that. As said, things are very busy for us right now! In fact, we are both off to Wyoming this weekend (Tom is actually already there).
Thanks for the questions and the interest...and again, please be patient, more information will make its way through the newswire in due course..." That's all the information we have for now. Just be patient and wait for further news! And expect that both investments will end up being good ones!
I will remain invested in Rush!
The potential upside from the niobium, rare earths, and even uranium (if the Quebec government gets on board), could make their Boxi project a greater addition to my total investment returns! That is something that Myriad can't offer to potential investors unless they choose to buy us out at some future date.
Perhaps they will? Or perhaps Myriad's plan might only be to buy out the share of our interest in Copper Mountain at some fair market value after both company's shares have greatly appreciated in value?
Who knows what good friends may decide to do in the best interests of both their company's shareholders? Perhaps for now, part of the game plan is to look for more potential assets near the Copper Mountain site?
But that is just my speculation for now!
A lot of savy members of the investment community seem to be in agreement with the assessment that the historical record of an unusually large uranium resource at Copper Mountain will soon be confirmed!
They are already on board and waiting for this better insight to make a lot of money!
Management remains conservatively biased for legal reasons. But we are given to understand that everyone involved in the Copper Mountain project is excited that even more uranium than the historical record already indicates may soon be found!
Deeper lying higher grade uranium resources may be found by using a different, more modern, drilling strategy than previous operators were accustomed to use!
There is a lot of uranium exploration interest in the State of Wyoming lately!
Out in this western state, uranium exploration and mining are about to boom! It's a cleaner, longer lasting fuel! And as we already now, modular nuclear facilities have garnered a greater interest by the citizens of that state. One success leads to another! That message will spread to other states and later to the world at large.
Nuclear energy is a better, safer and more reliable energy source! And future Artificial Intelligence enterprises will demand even more! The need for greater, more abundant, energy sources is never going away!
That's not speculation! It's a fact! The demand for that energy source will be there for everyone to see!
All the best! Java