Ann: Acquisition of High-Grade US Uranium & Vanadium Project, page-61

Why is this U project a gem? Agree it's a good jurisdiction, but it's too early to say whether its a gem. At least wait until a DFS/JORC, AISC, etc before we know whether it's a gem or not

Some POSSIBLE ideas on why this is dropping:

1. Uranium was 'hot' a few weeks ago with release of NFWG announcement, but excitement has died down a bit

2. Uranium spot price has flattened out recently, before this, it was continually increasing daily

3. Tax loss selling to probably continue until new financial year

4. Someone posted earlier on this thread that 'people aren't here for the dividends'... that's probably true. Who is here for a quick trade? Who is here long term?

There's no JORC, no DFS, what will be AISC, etc.. this project could be 7+ years before they make a single dollar from selling uranium (that's even if they get that far).. happy to wait around that long?

5. Hence mostly traders here, rather than long termers.. so plenty of profit taking going on

6. Management yet to prove they can actually progress a project from acquisition to production stage

7. Part of the TIN rise is probably due to the hype and rise in GTR. They're slowing down over there too (risen too hard too fast), so maybe seeing the same slow down here


Anyway, they were just a few thoughts off the top of my head on POSSIBLE reasons (whether correct or not... DYOR)