In response to the claim that Mr. Metals is fabricating information etc, I recieved this email from Stockwatch yesterday... It might be a bit repetitive, by I think it fully supports Mr. Metals....
- Tyler L.
Anaconda Uranium Corp
A potential $1 billion uranium company
Anaconda Uranium Corp ANU
Shares issued 11,117,500 Mar 10 close $0.35
Wed 11 Mar 98 Company Sponsored
AN EMERGING $1 BILLION ENERGY FUELS COMPANY TRADING FOR 40 CENTS CDN PER
SHARE
Anaconda Uranium Corporation
Symbol - ANU
Exchange - Vancouver
Anaconda Uranium Corporation was formed in early 1996 by an experienced team of mining professionals to take part in the boom in uranium prices which began in 1996. Since inception, Anaconda has been successful in acquiring uranium reserves of approximately 70 million lbs in four deposits located in Australia and the U.S. At current long-term contract prices of $14-15 per lb, that translates into an in situ value of approximately $1 billion.
Headed by John Cook, a veteran Canadian mining engineer, Anaconda has focused on acquiring proven uranium reserves in projects, which were drilled and developed during the last uranium boom in the 1970's. At that time, utilities and energy companies aggressively explored for uranium as prices soared to $50 per lb in early 1979.
As supply was added to the market, prices collapsed and many developed, proven projects were put on the shelf or abandoned. Over the past 10 years, nuclear generating capacity has continued to grow and uranium nuclear fuel demand today outstrips uranium mine supply by two to one. For example, current annual uranium demand totals 80,000 tonnes whereas mine supply is only 43,000 tonnes. The large shortfall has been met from large stockpiles, which have been dwindling over the past 10 years.
The end result is that spot prices have rebounded strongly from lows of $7 per lb. in 1994 to $11 today. Importantly for Anaconda, 95% of uranium is sold under long term contracts, which today are fetching between $14-$15 per lb. According to several mining analysts' forecasts, current uranium supply and demand fundamentals suggest prices could soon rise in excess of $20 per lb.
Anaconda's flagship project is Ben Lomond in Australia. At $15 contract prices, Ben Lomond has a present value of C$16.6 million or C$1.07 per Anaconda share. At $15 per pound Anaconda's total uranium portfolio has a present value of C$3.05 per share using a 10% discount rate.
Management remains focused on building a diversified energy fuels company and continues to aggressively seek out opportunities. Most recently, Anaconda has entered into negotiations with a major European nuclear fuels agency to acquire an interest in a uranium project slated for production in early 1999. Such an acquisition, combined with planned production from Ben Lomond in Australia, will give Anaconda a tremendous competitive advantage in the market.
John Cook, Anaconda's President, is leading this vision of growth in production and reserves. Mr. Cook was previously Vice President - Engineering with LAC Minerals before it was acquired by Barrick Gold and subsequently Vice President - Operations with Goldcorp, another large Canadian mining company. Most recently he was Director - Operations for Navan, an Irish mining company with operations in Europe.
Cook is joined by an exceptional board of directors with more than 120 years of combined experience in mineral exploration, mine development and financing. The latest addition to the board is Hugh Courtenay who was most recently Vice President - Commercial with Power Resources - one of the United States largest uranium producers. Mr Courtenay has more than 20 years of global uranium marketing experience.
The timing to provide investors with a pure uranium vehicle such as Anaconda Uranium Corporation we believe is excellent. Within a short period of time, Anaconda has developed a high quality reserve portfolio, which provide shareholders with excellent growth potential.
For more information on this undervalued/underfollowed company, please call:
Ann Slattery
Telephone (416) 864-1012
Fax: (416) 864-1369
E-Mail: aslatter@concentric.com
Website: inline-online.com
This report of Anaconda Uranium was written and edited by GOLD RIDGE INVESTMENT CORPORATION which specializes in undervalued junior resource companies. |
