Hole 116: 2.5 Metres Grading 70.34% U3O8 / #10-200: 22.5 Metres Grading 11.3% U3O8 / #30: 69 metres grading 2.33% U3O8 / #10-188B: 7.5 metres grading 29.98% U3O8

ATHABASCA BASIN: WHERE GRADE IS KING!

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Message: David Pescod on latest results (HAT,CSI,EAS)

David Pescod on latest results (HAT,CSI,EAS)

posted on Jun 06, 2009 02:24PM

HATHOR EXPLORATION (V-HAT) $2.23 +0.07

COLOSSUS MINERALS (T-CSI) $3.50 +0.12

EAST ASIA MINERALS (V-EAS) $0.80 +0.10

Drilling results out today from Hathor Exploration and

Colossus

Minerals

had us and a few others scratching our heads.

On Hathor, Canaccord analyst Eric Zaunscherb

tells us that

“this represented some of the best intervals ever recorded in

drilling in the Athabasca uranium belt” and yet we note the

market didn’t care at all. Zaunscherb is updating his report

later tonight, so for those who want a copy tomorrow, just email

Debbie at debbie_lewis@canaccord.com.

On Colossus, we went to David Coffin of the

Hard Rock

Analyst

for some thoughts and while yes, the results were

decent, Dave suggested that the stock had had such a run

over the last while waiting for drilling results, maybe it’s all

been built into the stock already. He also points out that

this is not a particularly big step out for the drilling, so it

may not have add too much to the resource at this point.

As far as the Hathor results, the Coffin’s are still keen on

this project and as far as the drilling results Dave says, “it’s

just more of the same.” The Coffin’s continue to think

Hathor is a buy up to the $4.00 level and sometime thereafter,

one starts taking profits.

We ask Dave though, if he could only buy one stock today,

what would it be? He answers East Asia Minerals

. We

had written a comment on East Asia from Dave just a few

days ago and that happened to be the day East Asia announced

some great drilling results and the stock responded

smartly.

He reiterates that buy on East Asia today suggesting that

the company is now probably up to a resource of 2 million

ounces plus and drilling results of a few days ago extended

their zone hundreds of metres.

Meanwhile back to the Hathor story and when we caught

up with company President Steve Stanley

who is a little bit

ticked himself that the market hasn’t responded smartly to

their incredible drilling results today which included 2 1/2

metres of 70% uranium (yes, that’s 70 percent uranium

folks—not .7% uranium, which is big stuff on other projects)

but also with a big gathering of analysts, writers, and followers

of the Hathor story expected in Saskatoon Tuesday and

Wednesday of next week, he is a little disappointed as additional

drilling results expected from the south-western part

of the project (particularly on some holes that got some

good scentilometer readings) are not expected to be ready

for that meeting. These results might extend the zone of

interest significantly.















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