Interview with Negar Adam, President, Director Makena Resources
(TSX-V:MKN) (OTC:CANSF)
On January 9, 2015 Fission Uranium Corp. released a maiden
resource estimate for its Triple R Deposit at Patterson Lake South,
Saskatchewan that radically exceeded the projections of all uranium
analysts.
The deposit contains an indicated uranium resource of 79.6
million pounds U3O8, plus an inferred resource of 25.9 million
pounds for a total resource of 105 million pounds. The estimate has
heated up rumours of an FCU buyout – which could have significant
ramifications for other uranium explorers adjacent to the
discovery.
One of the smallest of these companies – and arguably the most
leveraged is Makena Resources (TSX-V:MKN) (OTC:CANSF), whose
Patterson property directly borders Fission's Patterson Lake
discovery.
"Our Patterson land package is bordering the Fission discovery,"
confirmed Makena President and Director Negar Adam in an exclusive
interview with Financial Press. "We believe this may have caught
the attention of the market and is giving Makena a wider
audience."
Makena is about to conduct a gravity survey on its property for
the first time, with the intention of defining drill targets by
March 2015.
Buyout candidates for FCU include Denison Mines Corp., the
Lundin-backed uranium producer that has expansion ambitions in the
Athabasca Basin. Cameco Corp., Canada's largest uranium company, is
another potential buy-out candidate. Cameco bid for Hathor's
Roughrider deposit in 2011 but lost to Rio Tinto.
"Many investors who would profit if a buyout occurs are likely
going to look in the Patterson district again, and more than likely
will look at the juniors in the area. We may potentially be looking
at up to $500 million of unallocated investment capital that may be
reinvested in the Patterson district. As Makena has a current
market capitalization of less than $2 million, management feels
that Makena may potentially benefit from some of these funds
considering we directly border this discovery," stated Adam.
Makena has recruited uranium legend Dr. Schimann to its advisory
board. From 1977 to 1997, Schimann was employed by French uranium
giant AREVA as a Senior Geologist, where he was a key member of the
team that discovered the massive Cigar Lake uranium mine. Ten of
Schimann's years at AREVA were spent in uranium exploration and
mine development, mainly in the Athabasca Basin.
"Adding a uranium geologist with Dr. Schimann's experience and
pedigree within the Athabasca Basin to our advisory committee
demonstrates Makena's focus on developing the Patterson Block of
properties," stated Adam, "With Dr. Schimann involved, we are even
more optimistic about the ability to develop this uranium
project."
Combining magnetic and the electromagnetic data, three
structures have been mapped on the Patterson Uranium Property. Two
of these structures trend NW and one trends NE. The basement is
estimated to be at a depth of about 150 metres, based on historical
drill holes within the property and adjacent to it.
"We have multiple targets that we are in the process of
testing," stated Schimann, "The identified structures are often
associated with uranium mineralization. The upcoming ground survey
and drill program will reveal whether these anomalies have
associated uranium mineralization."
Makena appears to be part of a rising tide. Uranium prices have
been suppressed by surplus inventories created by Japan's 50 shut
down reactors. Japan will begin restarting these nuclear plants in
2015.
China has 28 nuclear reactors under construction, with another
49 planned and 120 proposed. Vietnam, Turkey, Indonesia, Egypt and
Kazakhstan are all building their first reactors.
According to the World Nuclear Association, Global uranium
demand will rise 48% by 2023.
"In the future, the Athabasca Basin will be the biggest source
of uranium for the whole world," stated Uranium Guru Thomas Drolet
in a recent interview with Financial Press.
Major mines in the Athabasca Basin include McArthur River (16.5%
U3O8), Maclean Lake (50 million lbs produced), Rabbit Lake (186
million lbs produced), Cigar Lake (22.3% U3O8), and Cluff lake (60
million lbs produced).
Nuclear power is the cleanest form of energy on the planet.
Cities need a reliable supply of electricity. Renewable energy
stops delivering when the wind doesn't blow or the sun doesn't
shine. Coal is not clean. That leaves a big role for nuclear
energy.
"Makena currently has one of the smallest market capitalizations
of any company that borders the Fission Discovery," stated Adam,
"We are hopeful that the next exploration phase could significantly
advance the valuation of our project."
Fission Uranium's latest resource estimate has confirmed that
the discovery is real and it appears only a matter of time before
they will be bought out. FCU's current market capitalization is
$430 million. The buy-out figure for FCU is projected to be half a
billion to $700 million.
Makena is currently trading at $0.04 with an approximate market
cap of $1.45 million.
Legal Disclaimer/Disclosure: This document is not and should not
be construed as an offer to sell or the solicitation of an offer to
purchase or subscribe for any investment. Financial Press makes no
guarantee, representation or warranty and a fee has been paid for
the production and distribution of this Report.
CONTACT: Makena Resources Inc.
Negar Adam
President, Director
1.604.685.5150
1.604.689.1733
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Citigroup Inc. Principal Protected Note Based Upon Dow Jones (Aig) (AMEX:MKN)
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