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Introducing the Next Big Winner in the Red-Hot North American Uranium Sector
Strathmore Minerals Corp. (TSX: STM; OTCQX: STHJF) |
February 8, 2011 |
To Our Readers/Investors,
Uranium is in a continuing strong uptrend, now up to $73/lb, both spot and term prices, up sharply from lows of $40.50/lb spot in 2010.
In the currently unfolding new uranium boom, we have previously introduced our readers to Uranium Energy Corp. (from $0.20/share in 2009 to above $6.00/share recently), Uranerz Energy Corp. (from $0.45/share to above $5.50/share recently) and Macusani Yellowcake Inc. (from $0.15/share to $1.10/share recently). We are now introducing you to the next big winner in this sector.
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Strathmore Minerals Corp. (TSX: STM; OTCQX: STHJF) is one of the largest holders of in-ground uranium in the U.S., and is aggressively advancing a mine permit application at its flagship Roca Honda project in New Mexico. Roca Honda (STM 60%/ Sumitomo Corp 40%) is one of the largest proposed uranium mines in the U.S. in over 30 years. Here the mine permit technical review, feasibility study and environmental impact study are underway.
In addition to progress at Roca Honda, Strathmore is aggressively advancing additional mine permit applications, a scoping study, as well as updating uranium resources at multiple projects in New Mexico and Wyoming. Total resources:
» 45.5 mil. lbsU3O8, NI 43-101-qualified Measured & Indicated resource
» 68.2 mil. lbs U3O8 , historical Measured, Indicated and Inferred resource -
Strathmore's goal is to become a leading uranium producer in the U.S. The company is a major player in the country's two largest uranium districts:
» Grants Mineral District in New Mexico, with more than 340 mil. lbs produced historically, where Strathmore's flagship Roca Honda, Church Rock and Marquez projects are located.
» Gas Hills Uranium District in Wyoming, with more than 100 mil. lbs produced historically, where Strathmore's George-Ver, Day Loma, Loco Lee and New Rock Hill projects are completing new mineral resource calculations and starting permitting applications. -
Strathmore targets potentially market-moving achievements in 2011:
» Q1 – completion of scoping study at Church Rock; completion of NI 43-101-compliant resource calculations for George-Ver, Day Loma and Loco-Lee projects at Gas Hills.
» Q2 – Submission of mine permit application for George-Ver project.
» Q3 – completion of Feasibility Study for Roca Honda project; feedback from technical reviews of the mine application for Roca Honda by the U.S. Forest Service and New Mexico Mining and Minerals Division.
» Q2 2012 – Roca Honda mine permit decision expected. -
Management and technical team has 200+ years combined uranium experience, more than 100 years' experience in the Gas Hills District alone.
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Working capital of $22.7 million (12/31/10); 88.9 million shares outstanding; 105.1 million shares outstanding fully diluted; recent share price range: $1.20 - $1.60.
Get Strathmore on your radar screen today by calling Craig Christy, IR, at 1-800-647-3303 and visit www.strathmoreminerals.com to register for breaking news. Email: info@strathmoreminerals.com.
Thank you,
The EditorsNatural Resource Investor
& World Gold Stock Report