Fission Uranium Corp T.FCU

Use Of Proceeds

[RatPatrol]

What ALL this money could be used for is most important.

This post may provide some answers as replies are invited.

I'll start by suggesting that FCU mgmt will be trying to patch up, pave over, some of 

its mistteps, errors, overshadowing its ability to make itself 

more attractive to others.

1) $75-$100 million going towards buying back the 80% of FUU it doesn't already own.

2) Buying properties around FCU's core holdings. Obviously this excludes Nexgen

because Nexgen is too big for FCU to swallow.

Any other ideas?

JMHO

[199930]

There's no need to buy FUU. I can purchase FUU on my own if I think it's a good investment. That's not something FCU should be doing. I also don't want them to dilute my ownership by speculating on other properties. They should focus on what they have. Other ideas. They might use the funds to purchase physcial uranuium.

[Uraniuman308]

first thing, reluctantly initiate the change in control provision and fire Ross and completely overhaul the BOD. Hire a CEO with the primary goal of selling FCU - definitely NOT buying back FUU. Second, secure a small amount to buy some for sale signs and a box of lipstick to dress this pig up. Third, send a case of wine to NXE begging LC to pull the trigger on a buy out to put us out of our

[Greenday]

@ RP - Personally I like the move to raise $250M.  It's not enough to build the mine but It's enough cash for shared infrastructure costs with NXE.  NXE currently has its mine applications before the regulators and the CRDN commissioned report pretty much assures that the Dene will not accept two mills in the region without putting up a stink.   So it's only some

[Uraniuman308]

LMAO, more like short term pain for long term pain.  No discussions on infrastructure can happen until we have our second FS, which thanks to "Mis steps" is at least 12 months away.  What will our share price be by then.  At .50 cents FCU would need to float 500 million shares!  And if CRDN will not support 2 mills, what happens if NXE (who is further along) says

[Greenday]

@ Uranium308 - Hey Homer.  You didn't read the report like I suggested.  Had you read it you would have noticed that one of the compalints the report makes is that storing tailings in the mine after its decommission isn't a proven practice.  Guess whose mine plan that's currently before the regulators proposed storing the tailings in their mine?  Talk about a

[shrink]

Cement paste backfilling has been used successfully throughout the mining community. This is NXE's proposal.

[Greenday]

@ shrink - Regardless of what NXE plans to employ for its underground tailing management, the IRKS report is challenging its efficacy. the long-term risks posed to the environment and our People's health should untested underground tailings management facilities fail over time allowing release of radio-toxic elements;

[shrink]

Thing is, it is tested.Much safer than tailing ponds but more expensive to create. Me thinks this is about money. If cement paste backfilling is ruled unsafe, then you might as well kiss the entire mining sector good bye, because ponds aren't going to do it.

[Greenday]

@ shrink - The tailings complaint seems like something of a red herring but it's being used as leverage to prevent two mills from being built.  With respect to FCU and NXE the report boils down to one of those situations where the "ends justify the means."  It only makes sense for all the parties to build only one mill with supporting infrastructure.  

[Spanito]

This post has been removed in accordance with Community Policy

[199930]

I agree 100%!

[Uraniuman308]

i totally agree...Ross should be fired and replaced with someone who can generate shareholder value!  JMO  

[Greenday]

@ Uranium308 - Hey Homer.  Very very unlikely that .86 is the top of the market.  Actually quite confident that it isn't.  I don't see how it could be. If Sprott continues buying uranium at its current pace over a period of a year, they'll purchase over half of the world's annual production.  And what happens when Sprott gets its US listing and Kazatomprom gets

[gizard16]

Uranium308, Your posting shows just how stupid you are. How much has FCU gone up in the last 6 months? How much has the whole sector benefitted from the Green push? Only a moron posts like you do.

[Born2Struggle2]

Not taking sides here, not wishing to appear to challenge anyone, not looking for a scrap - just want to provide this... Storing tailings underground in the mined out stopes is a very common practice throughout the world. Not all of the tailings will make it back underground because of sequenceing of the mining - hence the need for a tailings pond. As well, some of the tailings get ground so

[Greenday]

@ Uranium308 - Hey Homer.  Why would NXE want to pay for the entire cost of a mill when FCU could pay for half of it?  You're making no sense again.  Further, shareholders of both companies would get an almost immediate advance in their respective share values because right now the financial modeling on each company is predicated on them building infrastructure on a stand alone