Michael Smedley Strateco Resources Inc. RSC-T DON'T BUY Oct 17, 2012

If you only had one play in the Otish Basin you would probably buy this one. It is in his bullpen now and they are trying to work on the name. Not a lot of infrastructure so it could be a longer project. Have found some pretty good grades so could have a mine up and running in 8 to 10 years.

Have an interesting property are in the Otish Basin in Quebec. Way too expensive for him, so he wants to talk to management to see how much they can grow their deposit.

(Market Call Minute.) Uranium in the ground. They need money to get it out so he doesn't like the financing risks.

With the slowdown in the global economy and all the messy things going on, he wouldn't expect uranium to do that much in the short term, but in the long term he is always on the uranium prices. Russia will be reducing their export which could create a pop in 2013-2014.