Friday, April 08, 2011

Strathmore: STHJF

Sell-off courtesy of Japan's Earthquake, and fall in U Prices, they are stabilizing at the moment.  
Best place for mining uranium in the US is Wyoming and New Mexico, because that's where the majority of uranium has been produced in the past and where current resources are likely to be developed. 
  
Reasons to like Strathmore
  • Their Roca Honda, New Mexico property, is arguably the best undeveloped underground uranium deposit in the United States. 
  • They are proceeding with mine permitting at Roca Honda and in the Gas Hills of Wyoming, where they have the commanding land position for conventional open pit uranium development.
  •  In addition they have another eight development projects. They had 10 a few months ago and they've monetized two of those. 

  • The company has every intention of monetizing its other development properties in New Mexico and Wyoming. 
  • Strathmore has $29 million of working capital and is absolutely the most undervalued uranium developer on any North American exchange. 
  • With a market capitalization around $60 million, $29 million working capital and 125 million pounds of uranium resources, I think Strathmore is a no-brainer at $.85. 
  • Short-term target 1.6

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