May. 29 at 1:05 PM
Husab (Swakup uranium) taken over by CGN in 2012 when DFS completed
66% of Rossing mine taken over by CNNC in 2019
Norasa uranium deposit (Forsys Metals
$FSY) in Namibia only ~25km from Rossing (low grade), ~40km from Husab (low grade) => Norasa as a satelite of Rossing or Husab
Here a detailed overview of Forsys Metals valuation
1) well advanced uranium deposit only 25km from Rossing (low grade), 40km from Husab (low grade) = Perfect takeover for CGN/CNNC🇨🇳
2) Debt free
3) Additional drills at the moment
4) FSY held by URNM URNJ URA
FSY share price (0.59CAD/sh) represents only value of 1.13 USD/lb
That SAME Norasa project that was less advanced in February 2007 gave FSY value of 16.02USD/lb uranium
1.13->16.02= 14.1x
1.13->24.83= 22x
I’m comparing that SAME project (More advanced &Bigger now)
$UROY $URNM $URG $DYLLF $FSY.TSX