I have been following Strathmore for about a year and a half. Solid management with deep uranuim experience. Thier plan was to get properties with proven or indicated resources that TODAY are not economical( they have got option prices of next to nothing ) and wait for the uranium price to go up ( ie they expect it to go up significantly before 1999 due to supply/demand ). I bought in once at about 1.20 and sold at about 2.20 ( hard to remember the days when I actually made some money at this game), and planned to look at them again , possibly in the second quarter of this year. They had a Web Page - I will see if I can dig it up...... I liked the stock but was waiting for an increase in the price of Uranuim.
What do you know, I found it in under 15 mins. - Web Page:
strathuranium.com
Found my file on it as well, they have about 35 million pounds of drill proven or drill indicated U308. They just did a pp for 1.8M so they have some cash, under 10,000,000 shares O/S.... they are focusing on low-to-moderate cost properties with little or no royalties or smelter returns... I have a note in my file ( source unknown ) that the avg. production cost they expect is $16/lb., so I did a little calc. based on a $20 U308 price:
$4 US profit x 35,000,000 / 10,000,000 shares x1.40 = $19.60 Cdn/share. Now I remember why I was interested....
I welcome any further info on this company as it was/is my first venture in Uranuim, so I could be way off the mark..
EW |
