Aldrin Resource Corp. (TSXV:ALN) recently announced that Dev Randhawa, Chairman and CEO of Fission 3.0., joined its board of directors. In an article from the Financial Press enitled, “Aldrin Partners with Take-Over Target Fission Energy”, CEO Johnathan More said, “Mr. Randhawa knows the basin, he knows uranium, and he knows the Aldrin team… It’s a strategic partnership that I believe is going to deliver significant dividends.”
As quoted in the article:
“The Athabasca basin will be the biggest source of uranium for the whole world,” predicted Energy Guru Thomas Drolet in a Financial Press Interview, “Aldrin is distinguished by its location, size and the geological indicators which suggest there is a strong potential for an economic uranium mine.”
Location, location, location. Key Lake is in the vicinity of the 2012 Patterson Lake discovery on the western side of the Athabasca Basin.
Patterson Lake is a shallow deposit, amenable to an open pit, located in basement rock that is typically easy to mine. Analysts unanimous agree that Fission’s PLS discovery is one of the most significant uranium finds in decades.
The deposit contains an estimated 80 million pounds of ‘indicated’ uranium and about 25 million pounds of ‘inferred’. More than 50% of the resource sits in a high-grade zone that can be mined at low cost.
In a recent communication, Dundee Capital Markets analyst David Talbot called the Fission resource numbers ‘truly phenomenal.’
Fission buy-out rumours involving Rio Tinto (RIO-NYSE) and Teck Resources (TCK-NYSE) have now reached deafening levels, but Randhawa has stated that he is in no rush to do a deal as Fission continues to expand its resource.
“We don’t control if someone comes and makes a run at us,” stated Randhawa, “But we are ready for it if someone does.”
This backdrop is significant for Aldrin shareholders because explorers like Randhawa and McElroy will shift their focus quickly after a buyout and the Key Lake Property is geographically and geologically positioned to take center stage.
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