Tuesday, October 02, 2007
Strathmore Minerals (STHJF, STM.V) humorous press release
I haven't covered their annual report. After going past lots of pictures of mountain ranges and sunsets, we get to the substance: a cash and short term investment portfolio of roughly $33 million, presumably Canadian but by now it really doesn't matter, they're 1-for-1. (funny joke: Perhaps they no longer have any exposure to sub-prime stuff now that the value dropped by a third). And there's less than a million in liabilities.
In cash flow, here's how I see it. Garden variety operations burned up about $2 million. They invested around $18 million in short term investments. They spent around $8 million on exploration. They raised around $22 million in stock sales.
They had 70,631,548 shares at year end. If I recall, I'm assuming 77 million fully diluted shares. There are about 6 millon options and warrants outstanding, total. Ave strike prices are in the $2 range.
UPDATE Wed Oct 3, 2007:
There was a trading halt in Fission Energy stock today at 3:08 PM, the spinoff from Strathmore Minerals. The reason is pending news.
Here's what I want to see in the news: I want to see them drill 50 holes and have all 50 of them intercept 25+ feet of 10% uranium.