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This week we heard important news coming out of Cameco of cutbacks at high
grade assets in the Athabasca. This was a surprise to investors who
believed Cameco would first cut their marginal assets before their gems
especially the high grade Mcarthur River.
Cameco is pretty much saying to the market we are going to severely cutback
and shock you. Close to 1000 jobs will be lost from this cutback. The
spot price has gapped higher and it may be just the beginning as demand is
beginning to pick up again for clean and efficient energy.
I saw there were almost 20 mines shutdown or postponed since Fukusima and
they many never move back into production. The cutback from Cameco could
increase the coming deficit between supply and demand which is increasing
annually at 3.5%.
For over 18 months I spoke about a little junior with under a $25 million
market cap yet they control one of the world's largest uranium districts.
In addition they have high grade lithium which could compete against the
Argentinians and be used as a potential byproduct to drive cash costs
really low.
They have a 1000 square kilometers of ground on the Macusani Plateau where
most of it has been unexplored. They have already established an
impressive uranium and lithium resource and are working on ways to improve
the processing with engineering firms such as SGS out of Australia.
This test work will allow the company to update its PEA from a uranium only
project to one with the large tonnage high grade lithium as a byproduct.
The uranium project alone is enough to compete against the best but now
with lithium prices soaring in value this project could be one of the best
out there for the coming bull cycle.
Attention must immediately be paid as news just hit the wires this morning
that the company drilled high grade Uranium and Lithium on its first drill
hole into what appears to be a new discovery.
"PLATEAU URANIUM DRILLS 36.5 M OF 0.71% LI2O AND 45.0 M OF 633 PPM U3O8 --
HIGH-GRADE U AND LI FROM FIRST DRILL HOLE AT FALCHANI DISCOVERY"
Lithium mineralization is open at depth as the drill hole terminated in
high-grade Lithium.
I spoke to Plateau's $PLU.V $PLUUF Chairman this morning after the news was
released to share his excitement with me and my readers who have been so
supportive for years. Ian explained that this discovery could be a game
change as the grades are almost twice the average grade of the existing
deposits. The Lithium is even better 6 times the grade of the existing
resource. If you don't follow this stock yet...you better watch it now as
they could be drilling one of the most exciting uranium and lithium
discoveries in the world.
Remember Plateau's $PLU.V $PLUUF market cap is still under $25 million.
This is dirt cheap considering Ian sold his last uranium company Uramin in
the last bull cycle for $2.5 billion to Areva and in some ways he is even
more excited because of the lithium component with this situation. This
could mean at least ten bagger potential from these levels as bull cycle
may just be beginning.
Listen to my exclusive interview with famous mine builder Ian Stalker only
for GST subscribers. Please do not share as I would like this opportunity
of this discovery to stay within our network before it goes possibly
parabolic like some of our other lithium situations.
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Ian's track record speaks for itself. Remember people especially proven
mine builders who have rewarded their shareholders come first in our book.
Best wishes,
Jeb Handwerger
Disclosure: I own securities in the company and they are a website sponsor
which means I have a conflict of interest and have been compensated so I
could benefit if share price increases. This contains forward looking
statements which may not come to fruition as mining is risky. Please do
your own due diligence. This should be considered an advertisement and not
financial advice. I may buy and/or sell shares at anytime without notice
to subscribers so caveat emptor!
