Wall Street Transcript Interview with Richard F. Clement Jr., the President and CEO of Powertech Uranium Corp. (PWE.TO)

Wall Street Transcript

67 WALL STREET, New York - April 14, 2014 - The Wall Street Transcript has just published its Metals & Mining Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Mining Safety and Environmental Concerns - Global Iron Ore Production - Emerging Market Infrastructure Construction - Chinese Demand for Industrial Metals - Zinc Supply Deficit - Demand Growth in Zinc - Accelerated Grid Spending in China - Copper Demand in China

Companies include: Powertech Uranium Corp. (PWE.TO) and many more.

In the following excerpt from the Metals & Mining Report, the President and CEO of Powertech Uranium Corp. (PWE.TO) discusses company strategy and the outlook for this vital industry:

TWST: What would you like investors to know about your background and career highlights, as well as the skills and the strengths of your key management team?

Mr. Clement: We have a very good team of people. Myself, I've been involved in the uranium business since 1969. I started with Mobil Oil Corporation when they were heavily involved in the uranium business and spent a number of years with them - became their Head of Exploration in Australia for five years - and then I jumped into a small uranium mining company called Uranium Resources, which still is around. I was a director of that company when it went public in 1989. When I got into Powertech, I was looking very much forward to the development of a very good deposit in South Dakota. So we feel very fortunate that we've acquired this property. My other team members have similar types of background, and they're very capable of bringing this project onstream.

TWST: It looks like it's almost a done deal, so congratulations on your Azarga deal - the merger.

Mr. Clement: Azarga currently is a major shareholder. They own 45% of Powertech through acquisition of shares from some of the other entities that were involved early on in the company. Because of their background, their strengths and financing, we've decided to do a reverse merger with them. Once completed, they will control about 75% of the outstanding shares of Powertech. What they bring to the party is the ability to finance the projects all the way through development. So we're very pleased about that type of relationship.

TWST: Can you give us a closer look at your before and after balance sheet, that is, before the merger and after?

Mr. Clement: Right now, what it would look like remains to be seen. We need to finalize the paperwork for the merger; we need to get audited financials from our company and Azarga. It's a little bit premature to be discussing what the whole entity is going to look like, but we know that the assets and value that they have appear to be strong. We've had an independent review of their assets and shareholding, and their share value. And that's the basis of the merger.

TWST: What has been your strategy for keeping the company afloat in the difficult environment since Fukushima?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Rates

View Comments (0)