Interview with Chris Frostad, President & CEO of Purepoint Uranium Group Inc. (TSX-V:PTU)
Our previous interview: • Purepoint Uranium (PTU...
Recording date: 30th November 2022
Purepoint Uranium Group Inc. is a Canadian uranium exploration company focused on the development of its projects in the Athabasca Basin of Canada, which hold a total land position of 175,000 hectares. The Athabasca Basin is known as the world's leading source of high-grade uranium hosting 10 of the world’s 15 highest-grade uranium deposits and supplying 15.5% of the world's uranium.
The company recently attended the Mines and Money Conference in London, which occurred between 29 November and 1 December 2022. The company notes that the conference participants showed great interest in the uranium sector including the supply and demand aspects of the sector as well as its future.
The Hook Lake project of the company is a joint venture with Cameco Corp. (39.5%) and Orano Canada Inc. (39.5%). The project consists of 9 claims and holds a land position of 28,598 hectares, which includes the spitfire high-grade discovery, which has shown mineralisation at an average grade of 10.3% U3O8 over 10 m, including a mineralisation interval of 53.3% U3O8 over 1.3 m.
The company announced on the 25th of November 2022, that it had increased the size of its previously announced non-brokered private placement from CAD$ 2 million to CAD$ 3.75 million. The offering will consist of up to approximately 53.57 million flow-through units of the company at CAD$ 0.07. A unit will consist of one flow-through common share of the company as well as one-half of a common share purchase warrant of the company. Purepoint Uranium Group Inc. plans to implement the raised funds towards various exploration initiatives scheduled to commence in January 2023 and planned to total CAD$ 5 million in exploration costs.
0:00 - Company Overview
0:27 - Investors’ sentiments toward uranium
1:46 - Overview of the company’s projects
3:14 - Orano’s role in their JV project
4:28 - Making Purepoint Uranium defensible and its actual goal
9:13 - Why Purepoint Uranium is better than the newer companies in the uranium market
15:11 - Plans for the creation of company value
19:19 - Being focused at the right things
21:00 - Ensuring being funded for the company operations and plans
24:25 - Projected cost of drilling program
25:07 - Projected start of drilling program
26:54 - Outro
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