Opinions
Peter Hodson
Western Prospector Group
WNP-X
BUY
Feb 01, 2006
Good management team. Well financed. Their Mongolian assets look very attractive. They also have some coal assets that no one is talking about. One of the gems in the uranium space.
$5.210
Stock price when the opinion was issued
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Very attractive risk/reward. There is a lot of risk because of a current lawsuit by an individual who claims to own the project they are working on. Mongolia had also imposed some special laws regarding taxes. Feels a Mongolian story will be OK as two other major companies are now investing in Mongolia.
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WATCH
Asset is located in Mongolia. Russian government had developed the properties, but with low uranium prices, they walked away from the project. Basically, they just have to dewater the workings. Resource is about 55 million lbs. Good grade assets. Capital costs are fairly low. The problem is Mongolia. Waiting to see what happens with Ivanhoe (IVN-T).
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