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Gold/Mining/Energy : Strathmore Resources - SMR - A uranium play
SMR 21.38-6.5%Dec 5 9:30 AM EST
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To: Dan P who wrote (1)10/21/1996 1:22:00 AM
From: Jim Ilchyshn   of 162
 
Daniel, Bought some a couple weeks ago. Found out about the company and the low Uranium supply at the Calgary Mining conference in Calgary. Here's what makes it sound so good to me... Uranium has double in price from $8 to $16 per pound. Expected to be $20 shortly and $40 in two years. At the end of 1995, 438 nuclear power reactors in 31 countries exist. 33 are under construction and another 76 are in the planning stage. Estimates show that the annual global demand for Uranium is 156 million pounds with only 85 million pounds presently being mined. Inventory is down from an 8 year in the late 80's to a 1.3 year current supply. Strathmore has proven reserves of 7 million lbs. and a probable inferred reserve of 25 million pounds. (Numbers are as of last week when I called the company) The U.S. currently has 3 mills, down from 44 in the mid 70's. Strathmore has access to one of these mills...it would take just about 10 years to get a new mill on line. Karl Meyers is the company consultant. He has 40 years experience in the Uranium mining business working with companies such as Exxon, Gulf, Arco, Cuprus, Duval and Wencor. There is less than 7 million shares outstanding. Check out inet site at avenir-online.com Best of luck. - Jim.
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