"Again, it does own 100% of Patterson Lake. I expect Fission to take that project through to an NI 43-101 resource estimate so that investors can have a formal idea of what the resource size is, because there are a lot of numbers being tossed around by the market. Ultimately, in terms of buyers, it's a relatively select club of companies that would make an acquisition like that, but any time you have a deposit with this kind of grade at that depth you're talking about a best-in-class deposit, and those tend not to stay in the hands of juniors."
"We've always felt that Fission is a potential takeover target. Given its grades and shallow depth, Patterson Lake South has potential to become an economic deposit, capable of supporting not only construction of a mill. But, also, perhaps even more attractive is that this near-surface deposit may require relatively smaller upfront capital and could provide feed to an existing mill and be run at irregular intervals, essentially delivering high-value material over great distances when it's necessary. So we believe that Patterson Lake South and Fission, for that matter, make sense as a target for anybody that wants to set up shop in what is the underexplored western side of the Athabasca Basin."
"Fission just released its first round of preliminary results from its 30,000 meter 2014 drill program, which were excellent. The news flow will keep going until March or April 2014, when the winter program ends, but we should still be seeing assays for another two months following that. Some of Fission's zones of U3O8 mineralization are technically amenable to open-pit mining at a pretty decent grade—well over 1%. Saskatchewan is a very good geopolitical jurisdiction. Fission will, in our opinion, require further derisking in the form of a maiden resource estimate leading to a scoping study to attract any significant M&A bids."