The Gold Report

Strathmore Minerals Corp. TICKER: STM:TSX; STHJF:OTCQX Strathmore Minerals Corp. is a Canada-based resource company specializing in the exploration and development of uranium and gold/copper properties in the United States. The company has an extensive and diverse property portfolio located in Wyoming and New Mexico. In 2012, Strathmore acquired the Copper King gold-copper deposit near its operational base in Wyoming. The company's primary goal is to become a leading uranium producer in the United States, where it is permitting two core uranium development projects. Korea Electric Power Corp. is the largest shareholder, with an 11.8% equity stake.

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 Comments:

The Energy Report Interview with Chris Berry (3/19/13) "Strathmore Minerals Corp. has two areas of focus, the Gas Hills district in Wyoming and a deposit called Roca Honda in New Mexico. Wyoming and New Mexico are historically two of the most prolific uranium-production areas in the U.S. and arguably in the world. The company is perfectly placed from a geographic perspective. Korea Electric is one of the largest shareholders of the company and is helping develop the Gas Hills district. The fact that KEP owns equity in the company says a great deal to me in that it has 'skin in the game' and more than a passing interest in seeing this deposit develop. Korea Electric can earn-in up to 40% here and so Strathmore can defray equity dilution by receiving project development funding from a partner. A phase 1 drill program on Gas Hills is scheduled to be completed soon, which should provide additional insight into the deposit.

"Strathmore's relationship with Sumitomo centers around a 60/40 joint venture in favor of Strathmore. The focus here is the Roca Honda project in New Mexico, which is one of the most prolific uranium producing regions in the world on a historical basis. A decision on the mine permit is expected in 2013 and will be the real catalyst for the project and the company overall. As with any junior mining company, how you handle dilution is crucial to survivability—especially in the current environment. Strathmore's approach of partnering with two large Asian conglomerates is, I believe, a sound one, as it minimizes share dilution and establishes a relationship with two reliable potential offtake partners once a production decision is made." More >

Chris Berry, Morning Notes (3/7/13) "With supply constrained or shrinking and demand appearing to be healthy, we believe the uranium space is ripe with opportunity. One name to watch is Strathmore Minerals Corp. . .it has ample cash, experienced management in the uranium exploration and development stages, and deposits that are in safe geopolitical jurisdictions. It is a company such as this that could be an attractive takeover target for majors looking to replace mined pounds of uranium."

The Energy Report Interview with Mark Lackey (1/8/13) "The two other big areas are Wyoming and New Mexico, where another company we mentioned and have followed for a number of years, Strathmore Minerals Corp. has projects. Its Gas Hills project is in Wyoming and the Roca Honda project is in New Mexico. I've liked Strathmore over the years because, whenever management told me they were setting certain milestones, they met them. I've spent a number of years in the uranium business and always thought the Gas Hills project area was one of the best in the U.S., and it's now owned by Strathmore. I also really like its New Mexico play, and the company has considerable depth in its property portfolio for a junior. Strathmore expects to see production in the next three or four years; that would make it a relatively low cost and fairly significant uranium producer in the U.S. If I'm right about uranium prices going a lot higher in the next three years, this stock will be trading at considerably higher than present levels." More >

Siddharth Rajeev, Fundamental Research Corp. (11/16/12) "Strathmore Minerals Corp. has entered into an agreement with Korea Electric Power Corp., resulting in KEPCO owning approximately 11.8% of Strathmore and holding the option to earn up to a 40% interest in the Gas Hills project. . .an NI-43-101-compliant resource estimate for the Gas Hill Properties gives an Inferred resource of 2,200,000 tons uranium grading 0.12% U3O8 combined between the Day Loma and Rock Hill properties. . .Strathmore acquired all issued and outstanding shares of Saratoga Gold Mining Ltd. and thus has 100% ownership of the Copper King AuCu property in Wyoming. A recent PEA gives an NPV @ 5% of US$160M at an IRR of 31.2% for the Copper King property."

The Energy Report Interview with Sid Rajeev (10/30/12) "There are a few good uranium stories we cover. One of our favorites is a company called Strathmore Minerals Corp. It has two advanced-stage projects in the U.S., one in New Mexico and one in Wyoming. The company recently signed a joint venture agreement with Korea Electric Power Corp. to help advance its Gas Hills project. It also announced a positive PEA on its Roca Honda project." More >

Strathmore Minerals Corp. Content

Mickey Fulp on STM

Corporate Presentation (12/17/12)

Fact Sheet (12/17/12)

Infographic (6/5/12)

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