Ann: Large Mineralised Shear Zones Identified at Paterson Lake, page-9

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TopGun1

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08/02/24

10:31

Post #: 72299458
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Originally posted by MichaelSA ↑

I like the company, i think Directors look competent and think the appointment of Andy Wilde is brilliant.

The problem is they are nowhere near drill ready on their Uranium prospects. Desktop analysis, even soil samples and mapping will not be enough to keep the market interested for long. They need to fast-track drilling on their Uranium assets.

The most advanced project is Paterson Lake but that is Lithium and the Lithium price and stocks are in the toilet at present.

I think that although there might be the odd short lived announcement based spike, there will be significant pain for holders as i think they are a long way away from drilling for Uranium. Look at the expected budgeting for the next 2 years in the document that accompanied listing. Portland Creek which looks their best Uranium asset is allocated only $300k for the first year and much less in the 2nd year. They might not be drilling for uranium for 2 years by the look? Market will get bored pretty fast on just desktop analysis and soil samples.

Long term could be fantastic but in the short term i really think psychologically the market is going to push this down towards the 20c IPO price, sorry to say.

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3 days ago you were bullish and now you have sold

I am sure management have a plan. There are plenty of big shareholders in this company that want to see action and results.

Bring Dr Wilde onboard means they are serious!

Good luck Michael

I88 Price at posting: 26.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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