1:- Has very good ground and a lot of it (maybe too much & might farm out some later)
2:- Has very good JV partners. Cameo for one and you know about the Cigar Lake flooding.
So imo they would like to get reserves found and proven in any current/new projects they are involved with but this will take time.
3:- Working on 3 fronts, might have bitten off more than chew with their JV partners.
$4mil odd in the bank, ok for now but a rights issue is high on the cards in 2007 so they better get their finger out and find something soon.
Cash burn is a bit high, Personnel expenses, 2006 $1.118.008, Travel and acc $82.999
Anybody can pick at the figures for what ever reason It’s only a quick overview as I said.
My conclusion, not looking at the UEQ H/C thread (I will after this post later) and from my view on the reports only as a prospective investor in UEQ.
I would sit out and keep a close eye on this. It usually takes 24 to 48 hours for the market to see any benefit in a good strike which is plenty of time to enter, and yet big $ are made on hype alone and they may even hit the big one.
Disclaimer:- This view is my own and is NOT a recommendation to buy, sell or hold UEQ Always DYOR before investing.
Off to a bbq
Cheers Yorick
Xan
RPT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
