Centram Exploration (CNA-H.V)
Price: C$1.03
Shares Oustanding: 22,470,562
Shares Oustanding after $5 Million Private Placement: 22,470,562 + 12,500,000 = 34,970,562
Market Cap: 34,970,562 * 1.03 = 36,019,678 (36 million)
Cash: Will have $5 million after current financing
Management Pedigree
David Mosher, a director of Centram, led the exploration team that discovered
the Jabiluka deposit, Australia's largest uranium ore body, which is worth upwards of 10 billion Australian Dollars. Mosher is also President and CEO of High River Gold Mines, an emerging gold producer with a $500 million marketcap. Mr. Mosher is a director of joint ASX and TSX listed Equinox Minerals Limited (TSX/ASX:EQN) and a co-founder and director of Intrepid Mines Limited (TSX/ASX:IAU).
Donald Whalen, another director with centram is also the executive chairman of High River Gold Mines.He is also Chairman of the Canada Eurasia Russia Business Association and Co-Chair of the Canada Russia Business Council.
Richard Mark, the President and Ceo of Centram Exploration has over 18 years experience in the public market place. He is involved in senior management postions in a number of junior mining companies such as VMS Ventures Inc and Harvest Gold Corporation.
John A. Roozendaal, another director at Centram, is a geologist and also sits on the boards of VMS Ventures Inc, Harvest Gold Corporation and Thelon Ventures.
News Release: Centram is paying 8 million dollars (i think its in Australian dollars) to earn 50% of Crossland Uranium Mines uranium projects(Chilling and Charley Creek in the Northern Territories of Australia and Kalabity in South Australia. The two companies will also establish a 50:50 joint venture to explore
for uranium outside of Australia. Each party will contribute $2 million to establish the joint venture company. Crossland’s uranium tenement package covers extensive areas in the Northern Territory and South Australia – three project areas with eight separate titles covering 2675 square kilometres. The Chilling and Charley Creek (NT) and Kalabity (SA) projects all contain known uranium occurrences and have the potential for early discovery of viable deposits.
Exploration Strategy: Crossland’s priority exploration target is the Chilling project in the Northern Territory, where the company is targeting the style of uranium deposit found at the Ranger mine and the Jabiluka deposits, known as ‘unconformity-related uranium deposits (URD)’. This deposit style also supported uranium production from Rum Jungle, 40km to the north of Chilling, in the 1950s.
“Crossland sees the possibility that the Chilling project area is the western mirror image of the Alligator Rivers Uranium Field which contains deposits such as Jabiluka, Ranger, and Koongarra on the east side of the Pine Creek Orogen,” according to executive director, Mr Geoff Eupene.
Mr Eupene continued: “Crossland’s holdings in the Chilling project cover a similar geological setting and are large enough to include the entire Jabiluka-Ranger-Koongarra corridor that has production and reserves that exceed 300,000 tonnes of U3O8,”.
The Uranium Expert's Report for the prospectus points out that and that there are several known uranium occurrences, including secondary uranium mineralisation with values up to 0.395% U3O8 at the CHilling property.
Previous exploration has located values of up to 0.228% U3O8 at the Charley Creek Property, in association with secondary uranium mineralisation hosted in the granite.
Some of the phases of the granitoids reach ore grades, such as at the KR4 prospect at Kalabity, where specimen values of up to 4.72% U3O8 have been reported.
Please Visit http://www.crosslanduranium.com.au/ for more information.
In Summary:
Centram is an undiscovered junior uranium company focused on exploration in Australia with an experienced management team, tiny marketcap, just waiting to be noticed.
P.S. They will be presenting at the Uranium Stock Summit (April 9-10th) which is sponsored by the Casey Group
