Been comparing various Uranium stocks to find one I'd like to buy and decided on BMN.
The fact that it has no debt and hasn't been operating in the brutal bear market and copping a loss but has been on the sidelines progressing stands out to me. Gaining approvals & licenses, trial drilling, finding ways to reduce operating costs.. the list goes on. It looks to be in a good possie when the U market turns around. Relatively low grade of U however it seems to have substantial resource on their facility and a long estimated mine life.
It was a choice out BMN and DYL. DYL looks very attractive to the average investor and Borshoffs credentials are very impressive and I'm not discounting that he can do it all again with DYL.. however I opted to go with BMN for two reasons. DYL looks like the sexiest uranium play with almost a cult like following which I see as somewhat of a red flag as it can often mean the stock is overvalued. BMN also seems to be far more progressed in terms of being able to operate and produce uranium when it decides the time is right. Borshoff talks about aiming for around 2030 to produce - who knows what state the uranium market is in by then? A company that is in a position to capitalise in the next 5-7 years with the state of the uranium market is what I was looking for and BMN looks to tick those boxes.
Are there any U experts that could shed any more light on some pros and cons of BMN vs. DYL, or any other uranium company for that matter?
BMN Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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