Watch CXZ Heres the DD for you GTP
Crosshair Exploration & Mining Corp.---DOUBLE UP
(Cdn$ 0.25)
TSX : CXX
NYSE Amex : CXZ
H+L prices (12 months) : Cdn$ 1.85 – 0.31
Net shares issued : 112.2 million shares
F u l ly diluted : 138.5 million shares
M arket Capitalization : Cdn$ 27.5 million
Next price target: Cdn$ 0.50
Investment recommendation:
Because of the Nunatsiavut Government having passed legislation in April 2008 that placed a 3-year moratorium
on uranium mining on their self-governed Labrador Inuit lands (LIL), and in spite of more than 91% of the
Company’s Central Mineral Belt properties falling outside of LIL, Crosshair is focusing its strategy on developing
the Bootheel Property located in mining friendly Wyoming, in the United States, after the acquisition of
Target Exploration and Mining. A NI 43-101 compliant resource estimate is expected shortly.
In addition, the Company’s Golden Promise Project in central Newfoundland contains a preliminary NI 43-101
compliant Inferred resource of 89,500 ounces of gold.
With Crosshair currently controlling a resource of 17.1 million pounds of U3O8 in the Central Mineral Belt, at a
conservative in the ground value of US$ 5 per pound, this represents a market value of US$ 85 million or
Cdn$ 92 million alone, particularly when the moratorium will be lifted within the next few years, as we expect.
In addition, the Bootheel Property and the Company’s gold assets have attractive prospects to create substantial
additional investment potential.
Our first price objective is: Cdn$ 0.50.
AI
