When Stockhouse Editorial last caught up with
Fission 3.0 Corp. (
TSX-V.FUU,
OTC: FISOF,
Forum) and its Chief Executive Officer and Chairman, Dev Randhawa
back in October, we discussed the company’s unique uranium project generator and property bank business model…with the right projects in the right place. Fission 3.0 currently boasts 16 projects in the Athabasca Basin.
Fast-forward to Spring 2022, and Stockhouse Media’s Dave Jackson was joined, once again, by Mr. Randhawa to get our investor audience up-to-date with all things Fission 3.0.
(CLICK IMAGE TO PLAY VIDEO)
TRANSCRIPT BELOW:
SH: So, can you update us on your any new company developments, especially your just-announced granting of stock options?
DR: As you know, the hardest thing these days is to find people and keep them. So, we set some stock options for some of our new members. That's the hardest thing, not just COVID, but the surge in uranium, there's so many people out there trying to drill, and we have very good people. You want to keep your people and stock options are a great incentive. You will note, I think the stock was 18 or 19 and we set them at 20. We could have set them at 20% discount. We always try to, not see this as an opportunity to take advantage of a price, but we actually set our stock options to a premium, this time.
SH: You’ve also recently reported preparation for drilling with ground geophysics at your Cree Bay Project in the northeast area of the Athabasca Basin in Saskatchewan. Can you walk us through some of the targets for future drilling?
DR: Yeah. I'm not a technical person, so I did ask Ray (Ashley – VP Exploration) and essentially, this is what he says - in our drilling before we intersected some major faulting. Then what we're always trying to do is vector in, whether it's from the air, like x-raying it or on the ground, and what we're looking for is what they call pathfinder elements. All great deposits have certain boxes you got to tick. This is part of ticking those boxes, so that we think we can find this major fault offset in the basement and take a shot at it. That's the purpose of it, this stuff is cheap, drilling's expensive and these things are very hard to hit in the basin. I think Lukas Lundin said it's like taking a gun and trying to shoot from the 10th floor at a motorcycle going by it's how tough it's to find a deposit. We're always trying to figure out ways to vector in, whether you need faults, and we need all those things and once we find that then we can drill but you don't want to drill until you get to that point.
SH: A short while ago, the company drilled some interesting intersects at a previously untested Broach Lake target at your Patterson Lake North property. This might be of news to many investors. Can you unpack some of the results?
DR: Well, we found a corridor - the main thing out of it, is that we found a corridor about nine kilometers north, runs parallel to the Patterson one, the Patterson's got NexGen’s Arrow, it's got Fission Uranium’s Triple R. It's got these two very large, world class deposits. Now just above it, this parallel, we always felt it was there, so we've been able to find it. Now we had a few sniffs of activity but nothing high grade, so we got a couple more holes going into it. All uranium come through graphitic conductors but not all graphitic conductors have uranium in them. You have to narrow it down and this is what helped us at least find it. Now we feel like, it was 16 holes before we (Fission Uranium) found Triple R, these are very small in terms of space. They're not widely disseminated nickel, or you're in Africa where you can really jump every couple hundred meters and it's consistent because it's very low grade. These are pods of uranium, like pearls on a chain, so it takes work.
SH: Dev, what should company shareholders and potential investors be aware of from the company moving through 2022 and why would you say this is a particularly good time to invest in Fission 3.0 right now?
DR: Well, first of all, we've got heavy, heavy drill programs going on. We're going to spend $12.5M this year. We'll get some news and hit one of those holes and stock goes double or triple. That's one obvious reason and that we are doing a lot of good things, but also the overall market. The two big components are green energy - I think people are kind of waking up and realizing you're going to have poverty, or you have power. There's a great article yesterday that Frank Holmes put out, and a bit of a wakeup call that says, look sorry but the wind and sun are intermittent power, and they will not ever… and I think the sad part is Germany, like nobody in their rational mind sells their car before they have another one, but Germany did - Germany says, we're going to shut this down, shut this down. We're going to spend a trillion dollars doing this and sure enough, it hasn't worked out. Now their emissions pollution is up 25%-30% because you are having to get more coal, more oil from Russia.
I would say that I think one, we've got a lot of news coming out, but two, green energy is more in favor than ever, and uranium is part of that for the first time since I've been in this industry. People are saying, oh, uranium = green energy, we got to have it. News coming, overall, but also this - I don't know how this war will find its way out. Well, the one thing that's for sure is that I used to have a slide for a long time in there, about geopolitical risks, but no one ever talked about it, so I took it out. But, I've always said, how did we manage to let Russia do 50% of our uranium processing? How did that 40% come from there? I think what happens is like a country does what – Maslow’s Hierarchy of Needs - we do it as individuals and we do it as a country and they go, well we don't need it, we can trust Russia. I think if anything, this is a good time to own uranium stocks in general, but I think you certainly want to be with good management, who've built companies before and our management team, we've been able to be together, majority of us for over a decade and we've made two major discoveries. Nobody else can say that.
SH: …and in a safe and friendly mining jurisdiction to be sure in the Athabasca…
DR: Yeah, exactly and if number one is not going to be able to provide it, then who do you go to? You go to Canada and Canada's grades are higher than anywhere else in the world, but our costs are higher than Kazakhstan. They have lower labor obviously and they may make, you know, $500 a month versus our guys who make $500 a day. Plus they use solutions we can’t. I think what's happened also is yes, we need nuclear power for green energy but also that uranium coming from Canada is now more valuable than it was before, because it'd be interesting to see how far they take the sanctions with uranium, because half the uranium for the United States come from Russia.
SH: Can you tell our audience a little bit about your corporate management and technical teams, along with the experience and innovative ideas they bring to the uranium space?
DR: Oh, very proud of them. Ross (McElroy) is on our board now, and he's focusing on development of the Triple R mine. He’s great guy and great guy to work with. Him, Ray (Ashley) and there's about 12 key guys. When most of us have been together for two discoveries. We discovered the Waterbury, with the help of the Korean money. We sold that to Lukas Lundin. Then, of course, the Chinese government is helping us on the Triple R. This technical team has been super successful at attracting capital, making discoveries, and moving them forward. If real estate's about location, location, location, then junior companies are all about management, management, management. When stocks are down, I'd go in there and buy them. I haven't sold any for many years. We eat our own cooking. We put our own money every round and for us, our success is tied with the stock and that's what I like to see. That management and shareholders are property aligned. That's what we bring to the table, is a team that's done it twice and also know how to monetize these things.
SH: And finally, Dev, if there’s anything I’ve overlooked, the floor is all yours.
DR: I think people can get a little too focused, I think with this war is definitely putting more value on non-Russian uranium. But, it has really put on the forefront - We need energy and all due respect to my greenie friends, wind and sun will never be able. I've always said it'll never happen, but no one believes you because they think you're biased. No, I just look at the math. You can't have a massive middle class growing in China and India wanting more energy, and you got the crypto business who is now sucking on more energy in a lot of countries, and you want electric cars. I mean, where is this going to come from? The real reason to own uranium in stocks is the future where we need more electricity, and it's the only baseload power source of energy that we can turn on and off. It's not like the wind and anything else.
Before we get too caught up in this whole Russia-Ukraine thing, the bigger picture is we need more uranium, and you need exploration stocks, always provide both. Our stock will go up as uranium prices go up, but if we make a discovery, we get double or triple or maybe more than that. So, it's got duality to an exploration stock run by a good company - we are well financed, $15 million in the bank - you want someone well financed, good and technical and with lots of news coming. Overall, I would say is that there's a lot going to happen this year that we control, and I'm seeing good things happen that we don't control.
For more information, visit
www.fission3corp.com.
To view Fission 3.0’s latest corporate presentation, click
here.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.