Here's a quick comparison by the numbers and some notes
LOT (Lotus Resourcs)Share price: 8.4 cents
Market cap: $62mill
Shares on issue:
738millResource size: 37.5Mlb
Status: Developer in Mulawi
- purchased an existing mine from Paladin in 2019 that was shut-in in 2014 due to low Uranium price.
- $200mill CAPEx spent to assess and improve production up to 3Mlb/annum
- They changed out a lot the board and technical advisers to Uranium and experts from uranium One and Paladin.
- Currently talking to utility companies (reactor operators/electricity providers) to come to offake agreements and re-open min
- Have battery grade/rare earth metal tenements in fifield NSW (off topic)
BOE (Boss Resources)Share price: 7.2cents
Market cap: $114.4mill
Shares on issue:
1,584mill (1.58billion)
Resource Size: 71.6Mlb (honeymoon)
Status: Developer in Australia
- Mine currently shut-in on care and maintenance
- Low cost producer
- Could take up to 12months to restart production - will require capital raising or offtake support to restart
- Enhanced technical optimisation study underway - to improve production profile and save costs
- Current production rate of 0.88Mlb/annum. Plans to increase to 2Mlb/annum
DYL (Deep Yellow Limited)Share price: 30.5cents
Market cap: $75.2million
Shares on issue:
245million + ~63mill options with strike price of 50cents
Resource size: 156.6Mlb
Status: Explorer/developer - Scoping study
- Super low share volume
- have capital
- John Borshoff is CEO who lead Paladin from $2m market cap to $4Billion market cap from 2004 -2010 uranium bull market
- Assets next to Paladin's Langer Heinrich, Rossing and couple other proven big uranium mines
- Will require a lot of capital to develop a mine
- Discussions of mergers and acquisitions for last 6 months but no news as yet
Personally, I think LOT and DYL have greater potential as they have low market caps and low share volumes, good leadership, capital to easily raise. Boss resources is in Australia which a lot of people support, and are low cost producers but having to raise some significant capital to get the mine back into production and further share dilution is my main concern. Though discussions with a utility company turning to offtake agreement will send any of these companies rocketing.
DYOR - listen to the Alzarias Capital Project (7 episode podcast on Uranium)
(20min delay)