Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: teevee who wrote (5967)	1/13/2002 10:40:26 AM
From: Al Collard	Respond to of 11802

Hi teevee, Your in with PSM-t @$.18 for 55,555 shares. Chart for Pioneer Metals Corp: stockcharts.com[l,a]dacaniay[dc][pc20!b50!f][vc60][iLa12,26,9!Ll14] From the chart of PSM we can see the stock is currently testing the support of it's 50MA on average volume. The chart indicators have turned down but if the stock can hold it's support, early next week, we should see a bounce to the upside from here. Good luck with this pick, *** Al

To: teevee who wrote (5967)	1/16/2002 9:45:43 AM
From: Al Collard	Respond to of 11802

PSM-t...in the news: Pioneer Metals receives approval for UEX plan Wed 16 Jan 2002 Mr. Stephen Sorensen reports PIONEER SHAREHOLDERS APPROVE PLAN OF ARRANGEMENT AND UEX ... Pioneer Metals has received approval from its shareholders for the plan of arrangement with UEX Corporation at a special meeting of shareholders held yesterday in Vancouver, B.C. The plan is being proposed in connection with the agreement entered into between Pioneer and Cameco Corporation to establish UEX as a new public uranium exploration company. UEX will focus its exploration activities in the Athabasca basin area of Saskatchewan, which hosts the world's largest, high-grade uranium deposits. Under the plan, Pioneer's interest in all of its uranium exploration properties, including the Riou Lake uranium project, will be transferred to UEX. Shares in UEX will be distributed to Pioneer shareholders of record as of the plan record date on the basis of one common share of UEX for each common share of Pioneer. Those shareholders will continue to hold all of the outstanding Pioneer common shares after receiving their shares of UEX. The plan record date will be dependent upon the date of completion of the financing being undertaken by UEX, as discussed below. The financing will be announced when determined and is currently expected to occur within the next 90 days. Pioneer shares will trade with the right to receive a UEX common share until the third trading day prior to the plan record date. After that date the UEX common shares and Pioneer common shares will trade separately. UEX will become a reporting issuer under applicable Canadian securities laws. Immediately following implementation of the plan, Cameco will transfer to UEX its Hidden Bay advanced exploration properties for a 40-per-cent interest in the new company with the result that Pioneer shareholders will collectively hold a 60-per-cent interest. Cameco has entered into a service agreement with UEX to provide geological services with respect to the Hidden Bay claims through employees of Cameco familiar with the property. The service agreement will be in effect until Dec. 31, 2003. Cameco has retained a first right of refusal to provide financing required by UEX for development of a mine and the first right to mill ore from the Hidden Bay assets at their nearby Rabbit Lake operation. Cameco will have the right on behalf of UEX to market UEX's share of any uranium production. Cameco of Saskatoon, Sask., the world's largest supplier of uranium, is a public company whose shares trade on the New York and Toronto stock exchanges. Pioneer will retain the balance of its assets including its 100-per-cent-owned Puffy Lake gold mine in Manitoba, the Nokomis Lake gold project in Manitoba, the Bonito gold/silver project in New Mexico, two copper-gold exploration properties in British Columbia and approximately $1.57-million in working capital (as of Sept. 30, 2001). Pioneer also has available approximately $20-million of unrestricted tax pools. After the completion of the plan, Pioneer will continue its efforts to exploit these gold and base metals assets. Pioneer intends to retain its listing on the Toronto Stock Exchange. The plan is conditional on the common shares of UEX being listed on the Toronto Stock Exchange or the Canadian Venture Exchange. The TSE has conditionally approved the listing of the common shares of UEX subject to financing, completion of the plan and submission of required documentation. Subject to fulfilment of the conditions, it is anticipated that the listing will become effective on the date of completion of the plan. Implementation of the plan is subject to several other conditions including receipt of all required exemptive relief and regulatory approvals and the receipt of a final order from the British Columbia Supreme Court. UEX is pursuing a financing to raise the funds necessary to satisfy TSE listing requirements and to finance exploration activities and operating costs. UEX will be meeting with investment dealers and others over the next few weeks to choose a financial adviser and establish the terms of the offering. Pioneer and Cameco have jointly committed to a $500,000 lead order to purchase shares of UEX under the financing. Pioneer anticipates being able to announce the proposed terms of the financing and the anticipated completion date in the near future. A planned 2002 exploration program at the Hidden Bay property will include ground EM surveys over grids at the West Bear, Raven-Horseshoe and Telephone zone targets, and follow-up diamond drilling during the winter and summer seasons on the most prospective areas. In addition to the planned work programs, ongoing compilation and evaluation of the extensive exploration database from previous work will be undertaken to evaluate and prioritize other exploration targets on the Hidden Bay property. On the Riou Lake project, which comprises the Riou Lake, Serendipity lakes, and Black Lake properties, winter and summer drilling programs are planned for 2002 to test geophysical and geological targets and to follow up on highly prospective areas determined during previous exploration programs.