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Gold/Mining/Energy : Uranium Stocks
URNM 58.25-0.3%Dec 10 4:00 PM EST
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To: gparker940 who wrote (5129)12/20/2006 8:43:09 AM
From: james flannigan  Read Replies (2) of 30211
 
No, I think there is no pinks on GEM.But GEM has one thing that spells a very undervalued play.The old data by Rio Algom in the mid seventies had drilled off the 28 million lbs figure.Under Canadas Bre-X law 43-101 that resource at this point in time is not compliant.But the ore is still there.The share price is giving little value to this fact and in my view is pricing this company has only a possible discovery,when in fact the ore body is large and present.The company feels that with the new property gained this week that, the upside will be in the 100 million lbs range with more exploration.So when we look at GEM from an investment stand point we get,a company that in the next few months will likely put 28 million lbs into 43-101 with very little drilling.The kicker is the upside in resources that the company will add over the next year.It is my view that later on in the year,the company could spin off the other exploration properties as a way of unlocking all the value that is not reflected in the shares now.Conclusion, I feel the shares will make a major advance when the ore becomes 43-101.Then I expect even more advances as the market prices the exploration upside to the value of other plays.This begs the question how high will the stock go?Well that I have no answer for that,but the like the song goes " you aint seen nothing yet" James
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