In Sept. 2009 Peter McIntyre's shares in EXT (Extract Resources), a uranium miner who developed the Husab mine in Africa, were worth $56mil. Most here will know of Peter, but many new investors may not. Peter was the MD of EXT, but is now on the Board of AGE. He's the current no.1 shareholder of AGE. His company, the Macallum Group, is the no.2 shareholder. On the Board of the Macallum Group is Steve Sikirich. Steve was one of the major shareholders of EXT and his shares were worth $60mil at their peak. It's great that these two, along with John Main, have teamed up again for another crack at this uranium bull market. These guys hand picked AGE.
EXT went from a $4.5mil junior explorer to a $2.3 billion miner. Interestlingly, Peter left the company in late 2009 and the first uranium mined at Husab was 2016. The point being you make your money investing in a uranium company way before they put yellowcake in a can. That said, Husab was a tier 1 asset, which puts it in a special category. That's what can happen when you're exploring in a world-class location. Alligator River Uranium Province (ARUP) is also a world-class uranium address. But whether it's the ARUP or a strategic acquisition there's plenty in the pipeline for Alligator Energy.
A couple of other points. EXT was once 1.5c a share. Due to being subject to the whims of day traders the company decided to alter its ownership structure. When it was 9c they did a 1 for 10 share consolidation. Greg Hall has hinted there will be a roll back of Alligator's shares. It's not a cause for concern and will only happen on the back of exciting news.
Secondly, at the time of the share consolidation with EXT they formed an agreement with a large Canadian finacial company in Haywood Securities to underpin their future projects. Is this ringing a bell ? Think Traxys and its recent deal with AGE.
There are never any guarantees, but Peter and the gang seem to be following the same playbook that served them so well 15 years ago. At this end of the market management teams are all important. It's such a technical landscape. So much talent has left the uranium industry due to the duration of the bear market, which makes AGE's team and prospects so compelling. Right now there's no other uranium play I'd rather be on. Those playing the long game will be rewarded. You don't make life-changing gains by pip selling.
Here's a link to an article discussing the wealth and success of EXT's major shareholders (including Peter and Steve). It's telling that AGE is their preferred vehicle this time around.
https://thewest.com.au/news/wa/gang-of-four-extract-riches-ng-ya-329690
(20min delay)