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 : Strathmore Resources - SMR - A uranium play -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (100)	11/5/1998 10:04:00 PM
From: Rob	Respond to of 162

Cameco's and SMR's stock prices have started to move in the right direction in the last while. Anyone know anything on the progress of the test?: <Strathmore is presently shipping this ore to determine if the ore can be enriched directly, bypassing the milling process. Should this test be successful, Strathmore should be able to produce uranium profitably from the company's Macusani project in Peru at current market prices.>

To: CIMA who wrote (100)	11/5/1998 11:51:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 162

I just know that she has went from 26c to 40c over the past few days..I know some of the big newsletter boys like her. strathuranium.com What the Pros Think Bob Bishop's Gold Mining Stock Report While Strathmore's (SMR) share price has come more than full circle, the company is very different from the Strathmore first discussed last fall. Then, Strathmore was a concept story predicated on the strong prospects for higher uranium prices. In recent years the supply deficit has been filled by stockpiles left over from the last uranium boom, but with the annual shortfall rising and an estimated one year supply remaining from stockpile sources, uranium is one of the few commodities that seem destined to seek higher price levels (others may as wellthey just don't possess equally compelling fundamentals). Today, Strathmore has begun to assemble a property portfolio, and more importantly, has assembled a management team that will allow the company to take advantage of a cyclical upturn in uranium prices. Former mining analyst Ken Friedman became Strathmore's president last fall; the founder of Uranium Resources, Ray Larson, joined the board at the same time; and (David Miller recently) became Strathmore's chief geologist. Miller has spent the past 20 years with Pathfinder/Cogema (which produces 15% of the world's uranium supply), and his experience covers the spectrum from exploration to operation. I spent a few hours with Mr. Miller and the Strathmore team… and came away both impressed and quite pleased with the future prospects for the company. With most of an experienced management team in place, and several potential acquisitions in varying stages of the due diligence process, I think Strathmore will have a higher profile in the months aheadand a higher share price to go with it… Vol. 1, No. 25 February, 1998 investorsfirst.com Strathmore Resources has taken the opposite approach to building a uranium company. With uranium prices low, the company has been acquiring low grade open pit uranium deposits. To date the company has acquired 38 million lbs of uranium. These are low grade deposits with break even of $12 lb. In situ leaching would be used to recover the uranium. Most of these deposits are 2 million lbs in size and the cost of building an in-situ leaching operation would be about $2,000,000 per deposit. These deposits have cost Strathmore less than 2 cents per pound. The yearly holding cost of these deposits is $70,000 U.S. per year. Recently the company completed the acquisition of the Macusani uranium property in Peru. The property contains approximately 50 million lbs and the potential to host up to 140 million lbs of uranium oxide. The uranium oxide is contained in narrow high grade veins from 1cm to 3cm in width. These run on surface for hundreds of meters and grade up to 65% uranium oxide. Many companies have looked at the deposit before but could never figure out how to mine the resource. SMR's management came up with the idea of using the local mineros to mine these surface veins. Currently they are mining gold. SMR has meet with some of these mineros and they are receptive to the idea. In fact they would earn up to four times the income they are presently making from mining gold. This is a sound entrepreneurial idea which could easily surpass SMR's expectations. The cost to mine a lb uranium oxide by this method would be around $6.00 U.S. per pound. SMR has 18 million shares outstanding and 21 million fully diluted. With $2 million in the bank. SMR is banking its future on the rising price of uranium. Over the past three years above ground supply has fallen from 120 million lbs to 60 million lbs. Demand has held steady at around 120 million lbs per year and will rise to 130 million lbs by 2002. Supply has ranged from 70 million lbs to 98 million lbs over the past several years. The average estimate now stands at 90 million lbs for yearly production going forward for the next decade. Clearly uranium prices will rise as above ground supply continues to fall. Some people are calling for $40 per pound and this may happen. Spot looks to rise to over $20 by mid 1999. Currently the company is trading at 45 cents per share or 24 cents per lb of uranium reserves in the United States alone. Bishop says fundamentals good, so buy Strathmore Resources Ltd SMR Shares issued 7,754,498 1998-05-04 close $0.47 Monday May 4 1998 Robert Bishop, writing in a May 4, 1998 Fax-Alert (No. 112), says Strathmore Resources is a buy at 41 cents. Mr. Bishop recommended the stock in March 1997 at $2.15 and in July 1997 at 63 cents. It now trades at 41 cents. The fact that the stock has fallen to this level has made Mr. Bishop wary, but he maintains that the fundamentals for Strathmore -- one of the earliest entrants in a now-crowded uranium exploration field -- are solid. "While Strathmore's stock performance leaves much to be desired, Strathmore the company, and the stock, should eventually deliver in the market, as well," he writes. Starting from scratch, Strathmore assembled one of the most experienced management teams in the uranium sector, the U.S.-based letter writer contends. Further, he says, the company has been picking up properties at very cheap prices; while the majors have been paying $1.50 to $2 (U.S.) per lb., Strathmore has been paying an average of 10 cents. Mr. Bishop says the pressure on the stock price can be in part attributed to a particular shareholder's divestment combined with a generally illiquid market. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Coffins say buy on weakness as a junior uranium play Strathmore Resources Ltd SMR Shares issued 7,754,498 1998-03-13 close $0.54 Friday Mar 13 1998 In the March '98 edition of the Hard Rock Analyst, Eric and David Coffin update their coverage of Strathmore Resources Ltd with a recommendation to buy on weakness. Currently $0.52, the Coffins have recommended Strathmore five times between $0.70 to $1.50. This month they say the company is still focused on acquiring properties, when it should be concentrating on getting investors interested. The chief problem right now is the $12/lb uranium price. However, uranium remains in supply deficit, and the Coffins say the price should go up eventually. They checked out the numbers for in-situ leach production at some of the US properties, where its total uranium resource now exceeds 100 million pounds. Negotiations continue for a high grade project in South America that the Coffins figure investors will find more interesting. With excellent technical management and good financial backing, they say the stock should do well over the long term. Short term gains are dependent on a rising uranium price or a string of exploration results. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Some more important information. strathuranium.com strathuranium.com strathuranium.com strathuranium.com wwwa.canada-stockwatch.com Mr Metals