Area Plays
posted on
Nov 05, 2013 09:36AM
So it is clear that Fission will complete the merger with Alpha on Dec 4 and sooner or later there will be a bidding war for this shallow deposit. Patient shareholders need only wait for the action to begin.
The area plays include Forum (FDC), Nexgen (NXE), Purepoint/Cameco, Aldrin, Canalaska/Makena, Skyharbour (western athabaska syndicate), Zadar, Areva etc.
My favourite is Forum Uranium for the following reasons:
1. They are on the same NE-SW trending conductor that hosts the PLS deposit and are less than 5 km from the discovery hole.
2. This summer airborne radiometrics identified over 100 radioactive points on Forum claims in the vicinity of the PLS deposit.
3. This summer they also utilized EM to identify several graphitic zones and conductors.
4. On Oct 22 Forum announced the results of a soil gas radon survey. The PLS discovery hole had a radon reading of 0.95. Forum identified 3 grids with the folowing radon readings:
Bear Grid...1.33
West Bear Grid...1.08
Mungo Grid.....0.92
All of these grids are on Forum Claims that are immediately adjacent to the Fission Claims, located on graphitic conductors and only a short distance from the Fission's discovery hole.
5. Fission has utilized soil and water radon sampling successfully to find 6 mineralized zones to date.
6. Forum is well funded and will conduct a drilling campaign starting early in 2014.
7. Forum ownes 100% of their Patterson Lake claims and has fewer than 30M shares outstanding FD. Currently trading at 33 cents, forum is an opportunity to realize a serious multiple. If Alpha has reached $6 while owning only 50%, Forum could easily reach $10 with a significant discovery.
SN