Kaiser says buy, but no hurry
Pioneer Metals Corp PSM
Shares issued 49,429,057 Mar 26 close $0.18
Thu 26 Mar 98 In the News
John Kaiser, writing in his Bottom Fish Tracker of March 25, says Pioneer
Metals is a buy at $0.23, but he warns investors not to chase the stock.
Its 52-week range is $0.14 and $0.35; even going back two years, the high
was $0.50 reached in March 1996. Mr Kaiser sounds quite excited,
geophysically speaking, for in his opinion, Pioneer finally has enough
geophysical evidence to remove his anxiety about whether or not Riou Lake,
located on the northern rim of Saskatchewan's Athabasca Basin, is a
legitimate uranium exploration prospect. The bad news, he says, is that
discovery of such a deposit cannot take place until next year. Mr Kaiser
strongly recommends owning Pioneer for its potential to host a world-class,
multi-billion-dollar uranium deposit. The proviso is investors cannot be in
a hurry. The company plans a lithogeochemical program during the summer. Mr
Kaiser also reports Pioneer is in discussions with "various majors" and has
received a serious offer from one big-name company to option the property.
The newsletter writer recommended the stock in November 1997 at $0.21 and
has placed it on his list of 100 bottom fish for 1998. He also tipped it a
buy in August 1997 at $0.21, after his pioneering pick in December 1996 at
$0.20. |
