i dont see them acually mining anything anytime soon either. i only invested in them because of their vanadium prospects but what good is it if they arent even going to take it out of the ground, i moved on to enzr energizer resoures much more promising as far as vanadium goes
Here is a post I found on a Canadian discussion site, let me know what you think:
I've seen CXX's 2011 stock price projected at anything from $1.70 to $5 on this bulletin board over the past month & of course none of us really knows what it will be.
But the CXX Target Uranium Project planned for 2014 production is to be operated by CXX itself [making it rarest of things -- 'junior' to 'producer'] & has an indicated & inferred resource of 4.34 million pounds of uranium which CXX are hoping to get to 8 million pounds this coming summer based on the Target historic resource & spending a further $1million on site.The Target Project is amenable to in situ leach mining with a proved recovery greater than 90% of the contained uranium. In situ leach mining of uranium costs about $22/lb -- last Monday spot Uranium reached $68/lb -- actual long term contract cost is significantly higher to users such as nuclear power generators.
Assuming CXX gets their Target Project to 8 million pounds -- multiplying this by $46/lb [68minus22] & dividing by the company's 70 million fully diluted shares yields $5.25 per share. As I understand it the recent $10 million financing will get CXX to production start in 2014.
I've taken no account of CXX's other Wyoming property -- Juniper Ridge's close to 7 million lbs of uranium, of their Labrador CMB uranium resource of 14.6 million lbs, of their 136 million lbs of Labrador vanadium, or of their close to 100,000 ounces of Newfoundland gold! And I've taken no account of further price increases in spot or contract uranium as China becomes a major player on the nuclear generating scene!
What do you think the stock price of CXX/CXZ should be?
I do not see Crosshair going into production anywhere, just more dollars spent drilling to confirm grades and lbs of resources on existing properties. Not sure where people read that they will be a producer anytime soon?