eResearch is pleased to publish a Company Report on CanAlaska Uranium Ltd. (TSXV: CVV). You can download the full 31-page report by clicking here: eR-CanAlaska-CR-2020-08-09-FINAL
CanAlaska Uranium Ltd. (TSXV: CVV)
CanAlaska is a junior mineral exploration and Project Generator company focused primarily on uranium, nickel and diamond projects in western Canada. Currently, the Company controls:
- 132,300 hectares across 9 uranium projects in northern Saskatchewan & Manitoba,
- 25,000 hectares across 3 nickel projects in northern Manitoba and two base metal projects in northern Manitoba & B.C., and
- 2 diamond projects covering 57,752 hectares in Saskatchewan & Alberta.
INVESTMENT THESIS AND UPCOMING CATALYSTS:
- Portfolio of Energy Metal Projects in World Class Areas: CanAlaska has a portfolio of uranium and nickel projects as nuclear power and battery technology form part of the carbon-free energy solution.
- Joint Venture with Cameco (TSX: CCO ; NYSE: CCJ) at West McArthur Lake has Large Halo and Plenty of Potential: $25 million was spent on exploration by Mitsubishi before they retrenched from the region. Drill results illustrate a large halo of mineralization extending to surface and highlight grades of 5% and 8% U3O8 indicating the potential of a large-scale feeder zone.
- New Uranium Targets Discovered at Moon Project: Results from winter field operations at Joint Venture with Denison Mines Corp. (TSX: DML ; AMEX:DNN) results in the definition of three additional targets. Denison has now completed the spending requirement under the option agreement and earned a 75% interest in the project.
interest in the project. - Cree East Project Awaiting a new Joint Venture Partner: $23 million invested to date on surveys, extensive geophysical testing and over 70 drill holes testing targets. Large land package of 57,752 hectares with 17 contiguous mineral claims and nine uranium target zones.
- Fjordland Exploration (TSXV: FEX) Signed a $9 Million Nickel Deal with CanAlaska: Fjordland can earn up to an 80% interest in CanAlaska’s North Thompson Nickel project in Manitoba by spending $9 million on exploration.
- Free “Diamond” Option: CanAlaska has a portfolio of kimberlite targets that were only briefly explored by De Beers in 2016.
- Strong Management Team: Based on their geological knowledge of the region and a well-established Canadian-based exploration team, the Company is well-positioned to take advantage of opportunities in the region.
- Project Generator Model Reduces Risk: A diversified portfolio of projects with development funded by Joint Venture Partners, reduces company risk and limits equity dilution.
- Drilling can quickly re-rate the stock price with uranium junior exploration companies:
- Fission Uranium (TSX: FCU): Results from their 2013 summer drill program moved their stock price from $0.55 on May 6, 2013 to $1.42 on August 16, 2013.
- Hathor Exploration (acquired by Rio Tinto (LSE: RIO) in 2012): Results from their 2008 winter drill program moved their stock price from $0.45 on February 29, 2008 to $2.25 by April 1, 2008.
- NexGen Energy Ltd. (TSX: NXE): Results from their 2015 summer drill program moved their stock price from $0.59 on December 9, 2015 to $2.42 by April 13, 2016.
- Strong Cash Position: In January 2020, CanAlaska closed a private placement financing that raised $1.92 million. As of April 30, the Company has Cash & Short-term Investments of $1.87 million.
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You can download the full 31-page report by clicking here: eR-CanAlaska-CR-2020-08-09-FINAL
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FIGURE 1: CanAlaska – Project Location Map
