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Dev Randhawa on BNN

August 28, 2013 — Leave a comment

In case you missed it yesterday, I was interviewed by BNN regarding the news of our offer to Alpha Minerals. You can watch it here. It’s also worth you reading the latest press release posted on the Fission Uranium website as it outlines precisely why we made the offer to Alpha and why we feel now is the right time for our two companies to merge.

Ultimately my job as CEO is to maximise shareholder value. With each company owning half of Patterson Lake South, we’ve both been trading at a discount and it will be difficult to achieve the best offer in any sort of auction process when the time eventually comes to sell the asset. In addition, several large shareholders of both companies have made clear to us, that Alpha shareholders want the premium and liquidity that Fission enjoys.

Dev Randhawa

In case you missed Fission’s latest press release we hit mineralization on another five holes at R390E zone. The zone has now doubled in strike length since the winter program.

Analysts have been using R390E as the benchmark for the other zones so it’s great to see it expanding so fast. With off-scale results at all four zones, what happens with R390E shows, in my opinion, the potential for the discovery as a whole. When you consider that all four zones remain open in almost every direction, I think you’ll agree that PLS keeps getting more and more exciting.

As far as the latest results go, the holes to note in particular are PLS13-086 and PLS13-083. Hole 086 is 10m north of PLS13-061 on line 360E and based on scintillometer readings it appears to be more robust which is increases the potential strength of the zone. Hole 083 is a 15m step out to the west of hole PLS13-075. You may recall that 075 reported http://www.fissionuranium.com/news/step-out-hits-21-65m-total-off-scale-radioactivity-within-70m-of-mineralization-at-r390e-zon/ 61.5m total composite mineralization in several intervals over a width of 105.5m (53.0m to 158.5m). Hole 083 may in fact have even better results than reported so far due to the fact that there was excessive core loss in one of the high probe count intervals which prevented an accurate scintillometer reading. We’ll provide an update on this hole as soon as we can.

Here are the drilling highlights:

  • PLS13-086 (line 350E) intersected 47m of mineralization (75.0m – 122.0m), including:
    • 5.27m total composite off-scale (>9999 cps), including:
    • 3.0m of continuous off-scale (>9999 cps) (101.0m – 104.0m)
  • PLS13-083 (line 315E) intersected 61.5m total composite of variably radioactive mineralization over a 105.5m wide interval (53.0m – 158.5m)
  • PLS13-078 (line 435E) intersected 42.0m total composite of variably radioactive mineralization over a 60.5m wide interval (75.0m to 135.5m)
    • Upper Zone: 31.5m mineralization (85.0m – 166.5m), including:
    • 1.25m total composite off-scale (97.0m – 98.0m)
    • Lower Zone: 10.0m mineralization (125.5m – 135.5m)
  • PLS13-085 (line 330E) intersected 36.0m total composite of variably radioactive mineralization in several intervals over a 55.5m wide interval (58.5m – 114.0m), including:
    • 22.5m of variably radioactive mineralization (82.0m – 104.5m), including:
    • 2.16m total composite off-scale radioactivity (85.5m to 87.81m)
  • PLS13-081 (line 405E) intersected 25.5m of variably radioactive mineralization (105.0m – 130.5m)

Dev Randhawa, CEO of Fission Uranium

“As far as all the recent foreign contracts for nuclear energy projects are concerned, we have defeated or main competitors, the United States, France and Japan, But in a very short while, we will have to compete with Chinese nuclear reactor designs rather than the American AP-1000 reactors.”  That’s the verdict from Sergey Kiriyenko – the head of the Russian state-owned nuclear corporation Rosatom. He made the statement at the 1st Annual Conference of Nuclear Engineering Contractors.

While much of the World’s Media indulges in futile debates about nuclear vs renewable and nuclear vs natural gas, the forward-looking countries and power companies are progressing their plans to increase nuclear generation and the industry, led by Russia and soon China, is responding.

You can read more here about Kiriyenko’s thoughts on where Rosatom (and by default the rest of the industry) should be focusing.

Dev Randhawa

Great article in Business Insider recently on China’s projected nuclear energy usage. When it comes to security future energy supplies while reducing emmissions, there’s no doubt China is leading the way. Here are some of the key takeaways from the article:China nuclear dev randhawa

  • From about 15 gigawatts to 160 gigawatts by 2040, that’s about a 967% increase.
  • To put that in perspective, U.S. capacity is currently about 101 gigawatts.
  • And as the title of the slide indicates, it accounts for more than 40% of all future global nuclear growth.
  • By 2040, nuclear will comprise 11% of total generation in China, compared with just under 2% now.

Dev Randhawa

 

 

 

 

Dev Randhawa

Came across this great infographic today and had to share it. Lots of great stats – well worth a look.

Athabasca_06

Did you catch the latest Fission Uranium press release? Drill results from two holes at the R390E zone have extended the strike length to 105m. Not only that but hole 075 intersected the largest quantity of off-scale mineralization and the widest continuous off-scale interval that we’ve drilled at PLS so far. I blogged about this on the Fission CEO Corner so apologies is this isn’t news to you, however, the drill highlights are definitely worth sharing again:

  • 21.65m total off-scale radioactivity in several discrete intervals including
  • 16.7m of continuous off-scale (>9999 cps) (73.5m – 90.2m)
  • 82.0m of variable strength basement mineralization in two zones, separated by only 2.5m of barren rock

I cannot give enough credit to our technical team. As I mentioned in my CEO Corner blog, there may be a lot of high-grade uranium in the Athabasca Basin but the deposits there are amongst the toughest to find anywhere in the world. The continuing succession of great hits at PLS are a combination of considerable technical skill, innovation and a great deal of hard work on the part of Ross McElroy and his team.

Dev Randhawa, CEO of Fission Uranium

Had an interesting email newsletter recently from Dave Forest at Piercepoints.com – a resource sector observer. The subject matter was the price of liquid natural gas (LNG) which has been enjoying high prices recently at the expense of nuclear energy.

This is something I covered a while back when writing for Fission’s CEO Corner (when we were still Fission Energy). Specifically, that =one of the side effects of idling Japan’s reactor fleet has been a rise is the global price of LNG (yes, they are importing that much). With some of South Korea’s reactor fleet idled due to inspections related to falsified documents, this temporary price rise has increased even further.

Dave Forest’s point is that this price hike is temporary. S. Korea has already announced the imminent restarts of two reactors and Japan now has a total of twelve reactor restart applications in place. I agree. In my opinion, can natural gas replace nuclear? Yes, but at a cost that simply isn’t feasible over the long term. Things are already coming back around in the East as the restarts get under way and with it, nuclear will resume its growing place in the energy mix.

Dev Randhawa.