UEX Corp.

UEX Corporation has one of the largest known resources of uranium held by any junior exploration company operating in the Athabasca Basin, a politically stable, mining-friendly jurisdiction that contains the highest-grade uranium deposits in the world. The company's two advanced projects in the region contain approximately 86 Mlb U3O8. UEX was formed in 2002 and maintains strategic relationships with Cameco Corp. and AREVA group.

Expert Comments:

David Sadowski, Raymond James (10/27/15)
"UEX Corp. signed a letter of intent to earn up to 70% of the 21 Mlb Christie Lake project, located 9 km on strike to the northeast of Cameco's McArthur River, the world's largest uranium mine, and with which it appears to share structural control. We are encouraged with the option as it provides UEX an exciting, advanced-stage, third leg to its portfolio at an attractive price."

David Talbot, Dundee Capital Markets (10/26/15)
"We are upgrading UEX Corp. to Buy. . .as plans to acquire the highly prospective Christie Lake project are announced; the company signed a letter of intent to earn up to 70% interest from JCU Exploration. We view this as very positive; it adds a substantial project in the Eastern Athabasca, moving UEX one step closer to becoming the largest junior resource holder in the basin."

Haywood Securities (4/24/15)
"UEX Corp. announced on Wednesday that it has entered into an agreement with a group of agents who will, on a best-efforts private-placement basis, offer flow-through UEX shares at a price of CA$0.30 per share for gross proceeds of CA$2.5M. . .to fund the company's exploration efforts."

David Sadowski, Raymond James (4/10/15)
"UEX Corp. announced results from 22 holes drilled at Wolf Lake on its 100%-owned Hidden Bay project, near Cameco's operating Rabbit Lake mine on the east side of the Athabasca Basin. Two holes cut an encouraging radioactive fault, suggesting exploration could be vectoring toward a wider zone within basement rocks whose mineralized potential was previously overlooked. We view the winter program, which is now complete, as being a successful first pass, and we are excited about follow-up drilling at Wolf and Dwyer to commence next winter."

"UEX Corp. has a couple of world-class projects in the Athabasca Basin. . .the company's Shea Creek project has a 96 Mlb U3O8 resource. UEX owns 49% of Shea Creek. It also owns 39 Mlb at its Hidden Bay project. . .the company historically trades well on positive exploration news, and that could still be the case going forward. There is brownfield exploration underway at Hidden Bay, close to Cameco's Rabbit Lake mill. There has been significant work on this property in the past, but it has not yet been tested for the type of basement deposits that keep extending the life of the Eagle Point Mine. UEX's CEO, Roger Lemaitre, helped discover much of the basement mineralization at Eagle Point when he was with Cameco. At Hidden Bay, almost all previous exploration was focused on the upper deposits, and the basement rocks were ignored. Roger is trying to change that." read more >

David Sadowski, Raymond James (3/30/15)
"UEX Corp. is wrapping up a phase 1 regional exploration campaign designed to follow up on historic drilling, which may have overlooked basement-hosted mineralized potential. Early results have been positive, warrant further follow-up and suggest the company could be vectoring toward a shallow discovery; we are particularly excited about the Dwyer Lake target, where a large fluid/alteration system is clearly evident."

More Expert Comments

Experts Following This Company

David Sadowski, Analyst – Raymond James
David Talbot, Vice President, Senior Analyst – Dundee Capital Markets

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