| Summary: Sprott Asset Management uranium
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| | production. I think people are going to
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| expert Kevin Bambrough talked with us
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| | wake up and start giving them more
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| about the "second leg" of the current
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| | credit. I think that positive permitting
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| uranium bull market. Bambrough names his
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| | developments will continue to occur in
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| favorite uranium companies, where he
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| | places like New Mexico. Obviously, the
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| believes there is still room for
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| | friendly environment in Wyoming for
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| growth.StockInterview: How does the major
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| | bringing on production will make Energy
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| nuclear energy build up you envision
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| | Metals perform very well going forward.
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| impact uranium mining?Kevin Bambrough:
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| | It's going to be fantastic for
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| I think, with the passage of time, all
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| | shareholders if it can duplicate the move
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| types of mining will again be done again
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| | that Paladin has over the last year or
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| in the United States. They're going to
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| | so.StockInterview: You said earlier
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| need the supply. There is no alternative.
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| | "common sense would prevail" in New
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| If you look at Energy Metals Corporation
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| | Mexico. How does that impact Energy
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| (TSX: EMC), part of their plan is to
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| | Metals?Kevin Bambrough:
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| start with some ISL operations, some of
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| | New Mexico is more in the back burner
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| which will come at a facility that's
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| | for now, but I think the stock (Energy
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| already fully permitted. Then eventually,
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| | Metals) will continue to perform well as
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| they're going to try to move into places
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| | the regulatory environment continues to
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| like New Mexico, where I think with the
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| | improve in the area. I should touch on
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| passage of time, common sense will
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| | Strathmore Minerals (TSX: STM). We've
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| prevail and people will become more
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| | been pleased to see they've been bringing
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| pro-mining for uranium.StockInterview: We
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| | out their (National Instrument) 43-101's
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| now have about ten times the number of
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| | on a couple of their (New Mexico)
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| uranium companies, some purporting to be
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| | properties and show an increase in
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| a "uranium company," than when we first
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| | reserves. I believe they're doing some
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| started covering this sector. How is this
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| | work right now on their Dieter Lake
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| sector going to play out?Kevin Bambrough:
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| | project up in Quebec that could be
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| It's been very difficult to try and
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| | interesting. They've got some good
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| follow what everyone is doing in this
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| | resources and reserves. I think at some
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| space. Right now, the uranium story is
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| | point, someone is going to want to cut
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| looking so good. It's still relatively
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| | some deals with them, or they're going to
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| early that anyone seems to be able to
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| | just keep chugging along and bringing
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| raise some money, tell a story and
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| | things forward.StockInterview: You were
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| perform well. It's unbelievable how the
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| | excited about Tournigan (TSX: TVC) the
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| sector has performed this year. With the
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| | last time we talked. How is that one
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| passage of time, the guys with the real
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| | turning out?Kevin Bambrough:
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| resources, who can also develop them and
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| | Tournigan is really developing into a
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| produce, are going to do well. The other
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| | great story. Originally, when we first
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| guys are going to have to keep coming
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| | got into this, it looked reasonably
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| back to the market, raising capital,
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| | valued and interesting on its gold
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| raising capital and diluting their
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| | prospects. When they picked up deposits
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| shareholders in order to try to drill and
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| | in Slovakia, we got in deeper. I think
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| find something. Of course, there is going
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| | the story just keeps getting better as we
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| to be the odd one here and there that
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| | look more into what they actually may
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| actually strikes something big. It'll
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| | have in these properties. They've also
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| give people hope but, that's not the way
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| | brought on a new hire, who was the head
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| we want to invest.StockInterview: Have
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| | of the Slovakia uranium program years
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| the uranium stocks gotten out of control?
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| | ago. He's joined the team and he's
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| Are we looking like another train crash
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| | basically said that the Jahodna district)
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| like the internet stocks of a few years
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| | is probably not just a 3km strike length
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| ago?Kevin Bambrough:
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| | but probably more of a 7km potential. The
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| The majority of stocks in the uranium
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| | current resource estimates are only based
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| space, we will not own. We only own a
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| | on 500 meters of the zone. They're going
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| really select few, probably just over a
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| | to start stepping out and drilling
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| dozen. We have some explorers, we have
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| | it.We're hoping it could get much bigger.
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| some producers and we have some, what we
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| | It's open at depth as well. There is also
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| believe to be emerging producers and
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| | reasonable chance this could become a
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| we're sticking with that
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| | large uranium district. They've found out
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| mix.StockInterview: So which companies do
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| | there were a lot of other targets in the
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| you like?Kevin Bambrough:
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| | area, in the past. They are going to try
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| Obviously, there is a lot of mud
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| | to work these targets as well. Slovakia
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| slinging that goes on in all sectors of
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| | is a major past producing country. A lot
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| the mining business. You talk to
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| | of its power currently comes from
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| different people, and they say, "Oh this
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| | nuclear. They have two other properties
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| is going to be higher cost, that is going
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| | in Slovakia with resources. They're going
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| to be higher cost, and our properties are
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| | to drill and are hopefully going to show
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| better than their properties." From where
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| | better grades and larger resources, with
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| I sit, Energy Metals (TSX: EMC) was one
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| | time. Of course, you're always hopeful,
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| of the companies to get in there early,
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| | no guarantees, but our experience is that
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| and pick up a lot of known resources and
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| | in the uranium business: As you go and
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| databases. I think they've done a great
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| | drill old properties, redo old drill
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| job of doing exactly what they said they
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| | holes with larger cores, you get better
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| were going to do. We started funding them
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| | recoveries and can show higher grades.
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| in the early days. Those are the (types
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| | That seems to have been the case for both
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| of) companies I want to stick
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| | Tournigan and Western Prospector (TSX:
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| with.StockInterview: What do you like
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| | WNP). I should also mention that on the
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| about Energy Metals?Kevin Bambrough:
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| | Jahodna property, it's interesting that,
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| I'm happy to say that we're a very large
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| | not only did the uranium grade jump but
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| shareholder of Energy Metals, and I
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| | also the molybdenum grade jumped up
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| continue to love the story. The most
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| | substantially to where this is now some
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| recent presentation they gave shows what
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| | very valuable rock.StockInterview: Any
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| the company will look like after they
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| | final recommendations?Kevin Bambrough:
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| fully complete the Standard Uranium and
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| | SXR Uranium One (TSX: SXR), I think it's
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| Quincy Energy mergers. The combined
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| | a great story. There's no doubt that the
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| entity in their presentation shows to
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| | uranium is there, but some people debate
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| have about 236 million pounds of uranium
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| | about how difficult the mining is going
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| resources, I believe, and a market cap of
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| | to be and what the cost will ultimately
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| around C$360 million with $60 million in
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| | be. But they've got a good gold credit in
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| cash. We're still a shareholder of
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| | there to help bring down the overall
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| Paladin (TSX: PDN). I think we're up
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| | cost. Again, we believe the uranium price
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| about 40 or 50 times on the first shares
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| | is going to be much higher than most
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| we bought. If you compare the two, you've
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| | people believe for a lot longer. We love
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| got a market cap of close to C$2 billion
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| | investing in companies with huge
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| on Paladin with around 180 million
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| | resources and plenty of leverage to both
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| pounds. If you look, you'll notice the
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| | uranium and gold.StockInterview: Do you
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| real big move in market cap occurred,
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| | still see some of your uranium holdings,
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| when Paladin started to get close to
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| | certain ones as cheap, still in play, and
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| production and they signed contracts.Now
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| | to be looked at?Kevin Bambrough:
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| Energy Metals has about one-fifth of the
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| | Most definitely, and we'll be helping to
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| market cap and a fully permitted ISL
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| | finance some all the way to
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| facility down in Texas. They're at the
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| | production.James Finch contributes to and
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| point where they're going to sign the
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| | other publications.
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| contracts and move forward into
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