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FUM

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aaronbennett
Contributor
Hi guys Im just looking at the chart of first uranium one and it seems that it was oversold alot on the closing friday... What are your opinions with regards to the urnium and gold commodities?
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11 REPLIES 11
barry_1
Super Contributor
read what i say under WARRANTS 'bout gold and uranium.....personally i don't like local uranium mines as well establishe overseas mines and Anglo can probably supply all the uranium needed ,for the for seeable future! OMO
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Not applicable
barry, do you buy the Simmers argument that the uranium produced offsets the cost of gold production, thereby making them a cheap producer? Are they the only ones that can adopt this strategy?
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barry_1
Super Contributor
suppose it does,not at all sure 'bout that....i still mantain there is no need for a seperate mining company,double the costs,etc....by the way i hold SIM amd AFO.
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aaronbennett
Contributor
hi again thanks for your insight... call it esp... but i decided to take my money else where and buy shares in SIM instead. i felt that its diversification made it a better option. plus i read on someone elses reply that gold miners are capable of mining uranium??
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barry_1
Super Contributor
yes they do,AngloGold do,infact they i think they are the largest suppliers of uranium on the African continent.
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SKALA
Super Contributor
And it raises the question why did Mr Froneman start Dominion? I made good profit trading SXR in the biginning, but now Ihold a small amount of expensive UUU. Did not know at the time about ANG producing so much uranium. Have to agree with Barry's view here.
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Not applicable
Have to say I am not sure about SIM, it is a bit too speculative for my liking right now (IMO only please!). The value in this company lies in a) its 65% stake in FUM and b) possible development of whatever this strathmore project is. their current production assests are really risky and struggling to yield profit. They need capital, and are expecting to get it organically, and there is a large share dilution looming
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barry_1
Super Contributor
agree,just holding a speculative position!
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barry_1
Super Contributor
i have just received an e-mail that namely states that GFI is busy building a go-it-alone uranium process plant....see....www.miningmx.com/gold_silver/9311988.htm....It is also believed that the other main gold producers are doing the same.
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SKALA
Super Contributor
Barry, on a different subject; seems to me that GBG might be a good gold play if you have a medium term view. I know you followed this one before and I like what I read about it.
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barry_1
Super Contributor
According to Michael Coulson,its the best and only, new gold mine out there....All the other mines are usually extending existing old workings....I also feel confident about it,i mentioned in my last posting under warrants... I believe its soon going into production....i shall definitely consider it longer term if the gold price shows signs of staying above $1000 per oz....how ever if feel the other gold producers will for now respond faster.
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