Jean-Francois Tardif
Khan Resources Inc.
KRI-T
COMMENT
Apr 29, 2008
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.
(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.
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.