Robert Floyd
Khan Resources Inc.
KRI-T
COMMENT
Nov 14, 2007
Has been responding somewhat positively along with some of the other uranium stocks. More of an exploration play. Will move up on the development of deposits. Will be highly volatile and somewhat speculative.
(A Top Pick Apr 11/07. Down 75.4%.) As uranium started to come off, hedge funds dropped out. Sold at a loss of 30%. Wait until there is some directional movement in uranium prices, which could be 2009/2010.
Both Khan Resources (KRI-T) and Western Prospector (WNP-X) have some nice projects, but there is a lot of political risk in Mongolia. In the past, it has been known to expropriate properties, levy higher taxes, etc.
There are only 5 or 6 uranium stocks that he likes. He owns Khan Resources (KRI-T), Tournigan Gold (TVC-X), Uranerz Energy (URZ-T). Because it is in Mongolia there are political risks.
Uranium stock in Mongolia. The stock has done very poorly. Political problems but they have a real uranium asset, such as 40 million pounds. Waiting for the government to allow it to produce.
Very bullish on the Mongolian assets of this company. It's a proven resource. The issue is the government and if they are anywhere reasonable in the terms of splitting the pot, this is extremely undervalued.