RESEARCH INTERNATIONAL |
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15:47 | 07.04.2008
eResearch: Macusani Yellowcake Inc. – Initiating Report
UPFRONT Although at an early exploratory stage, Macusani is operating in an area of aggressive exploration activity, with at least 10 other groups advancing properties near the Company’s uranium project in the Puno District of Peru. RECOMMENDATION eResearch has initiated coverage of Macusani Yellowcake Inc. (”Macusani” or the “Company”) with a Recommendation of Speculative Buy. Our 12-month Target Price is $0.70 per share, a potential increase of 75% over the current price of $0.40. PROFILE Macusani Yellowcake Inc. (”Macusani” or the “Company”) is a junior Canadian uranium exploration company that controls over 2,000 square kilometres of uranium mineralization exploration concessions in the Puno District of southeastern Peru (near Bolivia). HIGHLIGHTS Peruvian properties are in an area of aggressive exploration activity. At least 10 other groups are advancing properties nearby. • Peruvian properties are in an area of aggressive exploration activity. • At least 10 other groups are advancing properties nearby. • NI 43-101-compliant Technical Report was released in September 2007. • Active drilling program testing four-kilometre highly-radiometric anomaly. • Recent assay results con fi rmed large horizontal bedded structure containing substantial amounts of uranium.• Financing of exploration expenditures over 24 months is in place. • Experienced management team and experienced Spanish-speaking ground team. • Foreign currency risk – Peruvian costs paid in U.S. dollars or Nuevos Soles; cash assets held in Canadian dollars. Click on the bottom “PDF” to download the complete study. |
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