Resources Quarterly - WINTER 2013 - page 31

Resources Quarterly
| WINTER 2013 | 31
it requires capital, an experienced technical team
in the field and a credible management group run-
ning the company. One of the benefits of exploring
in this emerging Patterson Lake region is that the
targets are shallow which decreases your explora-
tion costs and increases the chances of making a
discovery.”
Trimble feels as though this area has district
scale potential much like the east side of the Basin.
“There are many exploration techniques and
strategies you can use in this area to hone in on a
deposit given the shallow nature of the targets”
says Trimble. He continues to explain that an ef-
fective technique used in this area is radon gas
surveys which detects radon as it emanates from a
uranium source. This can be measured in soil and
lakes and has proven to be very effective in ex-
panding the PLS discovery.
Uranium is currently worth $36 a pound in the
spot market, “that is the very low end of the range
over the last 7 years,” says Trimble. Uranium has
traded as high as $140 back in 2007, however since
Fukushima it has collapsed and its spot price has
declined since. Most uranium is traded through
long term contracts. The spot markets usually only
accounts for 15 percent, and therefore the current
$36 dollar price can be misleading. The majority
of uraniumminers sell their product in long term
contracts at around $50 to $55 a pound.
“You have your fair bit of negative press sur-
rounding uranium and nuclear power. However,
that creates opportunity. This is when you can
make a lot of money in these sectors because valu-
ations are depressed and you can buy into quality
companies at fire sale prices,” continues Trimble.
“It’s cliché but that’s when you want to be buying,
when everyone else is selling.”
“I like the uranium sector,” says Trimble, “even
compared to the precious and base metals, I think
uranium is at a bottom; it’s a less crowded sector
and there is a lot of upside from here.”
Management Team
James G. Pettit,
Director, Chairman of the Board
JordanTrimble,
Director, President and CEO
RQ
DonaldC. Huston,
Director
Amanda Chow,
Director
Donald G. Myers,
Director
Richard Kusmirski,
HeadTechnicalAdvisor
Robert Marvin,
Qualified Person
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