"NEW FRONTIERS URANIUM CO. continues to remain confident of the future of uranium. The firm earlier acquired the NUBETH data base from Al Stoic of Glenrock, Wyoming. Digestion of the original $15 million drilling package of 5000 holes and indicated reserves of 4 million pounds in the Sundance, Wyoming area is in progress and may require the resources of a joint venture partner. Fred Groth indicates the new map base may take 2 to 3 years to accurately portray the uranium potential of the area. Other uranium properties are presently under consideration for acquisition. PECO ENERGY CO. and UNICOM CORP. have agreed to merge, subject to approval of state and federal regulators and shareholders. The transaction is valued at $8.2 billion, based on the price being paid to PECO shareholders, according to an article in the Wall Street Journal of 9/24/99. The merger will result in the fourth-biggest electricity generator in America and the nation's biggest nuclear-plant operator. "
PEN Price at posting:
4.6¢ Sentiment: None Disclosure: Held
