The Gold Report

Fission Energy Corp. TICKER: FIS:TSX.V; FSSIF:OTCQX Visit Company Website Fission Energy is a Canadian-based uranium exploration and development company with properties in Quebec, Peru's Macusani District and Saskatchewan's Athabasca Basin, where it's assembled an exceptional exploration property portfolio in one of the world's richest uranium deposits. Basin projects include the Waterbury Lake KEPCO Consortium JV and promising exploration projects at Patterson, Davy and Duddridge Lakes and the North Shore. In Quebec, Fission holds 100% of the Dieter Lake Property, which has an NI 43-101 inferred resource of 24 Mlb.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Deborah Sterescu, Proactive Investors (1/26/12) "Fission Energy Corp., together with its joint venture partner, has decided to boost the current winter 2012 exploration budget at its Waterbury Lake uranium project by 26% to $9.28M. . .the expanded drilling will be designed to supplement original plans for several high-priority regional targets, including the Summit zone, the Oban Corridor and Murphy Lake. . .this drilling will allow the company to further test the potential of these areas for hosting high-grade uranium mineralization."

David Talbot, Dundee Securities (1/17/12) "Initial J-Zone resource estimate totals 8.9 Mlb uranium, including 7.4 Mlb grading 1.99% uranium Indicated. We recommend Fission Energy as a BUY based on this initial J-Zone resource estimate and are upgrading our risk rating to Speculative from Venture. . .this first pass J-Zone resource reminds us quite a bit of the initial 12 Mlb uranium Roughrider resource reported by Hathor in 2009 on the property adjacent to Fission's J-Zone. . .high grades found at J-Zone including 46% uranium over 2m within 7.84% over 14.5m are an indication that higher-grade pods may be found. Further drilling should help provide those little details. What we notice is that J-Zone is already larger on a tonnage basis than the original Roughrider resource with lower grades."

Deborah Sterescu, Proactive Investors (1/16/12) "Fission Energy Corp. announced an expanded $2.76M, 33-hole winter drill program at its joint venture Patterson Lake South (PLS) property in Saskatchewan. . .the winter exploration program is designed to follow-up the initial 838m drill program that began in November 2011 and will include sonic and/or reverse circulation drilling, core drilling and airborne and ground geophysics. . .meanwhile, hole PDD11-003 intersected graphitic metapelitic basement rocks. Basement faulting and graphitic metapelites are often seen as key indicators associated with structurally controlled uranium mineralization within and on the margin of the Athabasca Basin."

Rob Chang, Versant Partners (1/9/12) "Fission Energy Corp. is one of our top picks for 2012. . .with the recently completed battle for Hathor won by Rio Tinto, it is generally believed that Hathor alone is too small to significantly impact the bottom line for the mining giant. As such, the consolidation of Hathor's western neighbor [Fission] that has the shallower mineralization is a likely subsequent step. . .we maintain our Buy (Speculative) recommendation and $1.25 target."

The Energy Report Interview with David Talbot (12/13/11) "We like Fission Energy Corp. Now here we are, back to the Athabasca Basin, where you have potential for high-grade uranium deposits. We recommend Fission as a Buy with a venture risk rating. We don't have a target price on this one because we're still waiting for that initial resource. We do believe this company is a prime takeover target in the Athabasca, probably more so now that Rio has won Hathor, which is located immediately next door. While we might expect Rio Tinto to first go after AREVA, it could next target Fission Energy, which has a market cap of about $80M, to gain not only its projects but also perhaps a partnership with the Korea Electric Power Corporation. . .

Plus, Fission has a potentially new discovery in the western Athabasca. A radioactive boulder field measures 5,000m by 900m and one third of all boulder and cobble samples taken assays at over 10% U3O8, and another third at between 1% and 10%. By the end of this year, we think that the Fission project next to Hathor's Roughrider might measure between, say, 11–18 Mlb. It might grade around 3%, according to our estimates. Upside is huge here. . .yes there is takeover premium. As soon as that Cameco bid for Hathor came out, this stock popped in unison with Hathor. But with that said, I don't think that the takeover premium, even though it's in the stock right now, is the whole story. If we were to use the $10/lb takeover level where Hathor was finally taken out by Rio and then add Fission's cash that would suggest more like a $1.30 target price for Fission."

• Corporate Presentation (4/8/11)

(8/25/11) FIS News Alert

(2/16/11) CEO Dev Randhawa Interview

Back to Top