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 Talbot, Eight Capital (2/14/17)
"Initial assays from UEX Corp.'s unconformity-style uranium discovery at Christie Lake were provided today. . .thick ultra high-grade uranium is found between overlying sandstones and graphitic basement rocks. . .22.81% U3O8 over 8.6m (assayed) at 475.1m depth, marks the highest ever grade at Christie Lake."

David Talbot, Dundee Capital Partners (1/30/17)
"We recommend UEX Corp. as a Buy. . .[the] discovery of massive unconformity-style uranium mineralization at Christie Lake (CL) was announced today. . .unconformity U3O8 potential was thought to have been exhausted, but this is clearly not the case; it opens up massive potential. Plans are being modified to drill the lower structure at 25m along strike and 15m up and down dip. UEX is earning up to 70% interest; it currently owns 30% but is well ahead of its 2017 spending requirements, and can cover remaining cash payments."

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David Talbot, Dundee Capital Markets (11/7/16)
"We recommend UEX Corp. as a Buy with a C$0.50/sh target based on a 0.8x multiple applied to our 10% DCF model. The initial five holes testing Ken Pen Zone at the Christie Lake Project in the eastern Athabasca Basin have successfully confirmed high-grade unconformity uranium mineralization, and identified basement-hosted uranium. . .Today's results are an excellent first step at expanding Ken Pen. . .We don't expect any issues with downhole probe equipment not being able to take accurate measurements as grades are in line with historical results."

David Talbot, Dundee Capital Markets (9/8/16)
"Gamma probe results for five new holes and assays for three at UEX Corp's Paul Bay deposit, part of the Christie Lake project in the Athabasca, were announced yesterday. . .An ultra-high grade core has been recognized. . .We expect historical resources to be confirmed and likely see grades increased, given that zone boundaries were extended and a high grade core recognized. . .The Paul Bay deposit now extends for 150m vertical by 100m along strike. . .We recommend UEX as a Buy with a C$0.50/sh target based on a 0.8x multiple applied to our 10% DCF model."

David Talbot, Dundee Capital Markets (7/19/16)
"We recommend UEX Corp. as a Buy with a C$0.60/sh . . .Initial metallurgical testing at the Horseshoe and Raven deposits, part of the Hidden Bay project, indicates potential for heap leach U3O8 recovery. . .Hidden Bay has taken tertiary importance for UEX, after the massive 1.8% U3O8 Shea Creek JV, and the new Christie Lake Project that shows large, high grade basement potential. . .We continue to like this stock, and can appreciate moving Hidden Bay forward at low cost, however, we place our eggs in the Christie Lake basket for adding further shareholder value."

David Talbot, Dundee Capital Markets (7/12/16)
"We recommend UEX Corp. as a Buy with a CA$0.60/share target. . .multiple mineralized uranium horizons were intersected by another two holes from this summer's drill program at Christie Lake; while failing to return grades as high as a few weeks ago, these holes also confirm continuity within the confines of the existing Paul Bay deposit. . .four holes are targeted directly below existing mineralization, and any success in these areas should be immediately accretive to the next resource update."

More Expert Comments

Experts Following This Company

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

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