Sunday, December 02, 2007

BNN Uranium Stocks, Rob Lauzon (I)

Rob Lauzon Middlefield Capital on Thursday Nov 29

TRIEX MINERALS (CVE:TXM): it is a name we quite like as an exploration company; it comes with it risk of being exploration company, not producing uranium; their goal in 5 years to find uranium in east side of Athabasca as well as Hornby Basin and Alaska. Triex actually raised some money yesterday, I purchased more shares, think it is great buying opportunity. They staked early claims near McArthur River near producing mines; the Pasfield Lake project looks quite exciting over next year, year and a half. I think it will probably trade to $3.50-$4.00 in next 6 months.

TXE.V 6mo and 2 yr charts


CROSSHAIR EXPLORATION (CVE:CXX): we are watching Crosshair quite closely, had some pretty interesting drill results, drilling in same area as AURORA ENERGY (TSE:AXU) in Labrador; comes with it risk as exploration play, a lot of fixed cost if they ever decide to build a mine due to lack of infrastructure; potential for this company and AURORA to share cost. We do not own it right now but we are looking at and in our radar screen.

CXX.V 6mo and 2 yr charts



PUREPOINT URANIUM (CVE:PTU): looking at the chart it has probably found a bottom here in the 35-40 cent range. We do own a small amount of Purepoint in a few of our smaller funds that purchase flow-through shares. The one thing about Purepoint is that they have staked a lot of land in swampy deep areas of Athabasca, tougher to find it and more expensive if they do find it.

PTU.V 6mo and 2 yr charts

My Take:
Crosshair is the largest of the three companies mentioned, with a market capitalization of around $130 million Cdn while Triex is at $55 million and Purepoint is only worth around $19 million. Risk, of course, is understandably inversely correlated to these rankings. The project mentioned in Labrador for Crosshair is its Central Mineral Belt Uranium Project, in which they are going to start drilling again after the new year. Its bigger cousin, of course, is the $1 billion company Aurora Energy, who differ in that the latter has an NI 43-101 compliant resource.
 

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