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Psst…wanna buy an uranium junior in Argentina, guv?

The news is from U308 Corp (UWE.to) and it’s entitled, “PEA Shows U3O8 Corp’s Laguna Salada Deposit in Uranium Industry’s Lower Quartile of Anything You’d Ever Invest Cash In Assuming Normal Levels Of Sanity” and along with other pieces of wonde….Oh wait…sorry…start again, there’s a mistake there.
The news is from U308 Corp (UWE.to) and it’s entitled, “PEA Shows U3O8 Corp’s Laguna Salada Deposit in Uranium Industry’s Lower Quartile of Cash Costs” and along with other pieces of wonderful, such as the whole concept of building your uranium mine in Chubut Argentina…hell, any mine in Chubut (ask Pan American Silver about that angle of the fun), the way in which these jokers present the PEA findings beggars belief, right from the getgo title in the NR which is:
“PEA Highlights (Pre-Tax Base Case at $60/lb U3O8):”
Well, the first part in parentheses means that either there’s no need to pay taxes in Argentina or they’re not telling us everything about the numbers. While the second part…well…this is the two year chart for the Globex Uranium futures contract, from here:
Yes, they’re assuming U$60/lb as their selling price. Of course they’re right. I’m sure they won’t mind the rest of us assuming they’re a bunch of scamming scumballs, what with so many rough assumptions in play.

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