The Best Undeveloped Asset of Any Commodity in the World

It’s our belief that a major bull market in uranium is not far off, and that well-positioned junior companies will rise by many multiples of where their stocks now trade. Fission Uranium (TSX: FCU)(OTC: FCUUF) is one of them. [Outsider Club logo] The Best Undeveloped Asset of Any Commodity in the World [Gerardo Del Real Photo] By [Gerardo Del Real]( Written Monday, October 16, 2017 Publisher’s Note: It’s our belief that a major bull market in uranium is not far off, and that well-positioned junior companies will rise by many multiples of where their stocks now trade. Fission Uranium (TSX: FCU)(OTC: FCUUF) is one of them. It owns what several third parties have determined to be the best exploration asset in the world — not just for uranium, but for any commodity. What’s more, China General Nuclear Group (CGN) has taken a very large position in Fission at prices some 40% higher than where the stock currently trades. CGN will soon be the largest consumer of uranium in the world, so it’s a good partner to have. Fission CEO Dev Randhawa describes these and other advantages of the world-class Patterson Lake South (PLS) uranium deposit in the interview with our in-house resource expert, Gerardo Del Real, below. Enjoy, Nick Hodge Publisher, Outsider Club --------------------------------------------------------------- [Gerardo Del Real Editor Photo 110]Gerardo Del Real: This is Gerardo Del Real for the Outsider Club. Joining me today is CEO and Chairman of Fission Uranium (TSX: FCU)(OTC: FCUUF), Mr. Dev Randhawa. Dev, how are you today? Dev Randhawa: I'm excellent. Thank you for having me.[Dev Randhawa] Gerardo Del Real: Thank you very much for joining me. Now, I wrote a piece a few weeks back outlining why I thought 2018 would be a transformational year for the uranium space. Two gentlemen that are among the most influential in the space, Rick Rule and Jeff Phillips, have recently gone on record saying that they believe this is the bottom of the uranium market. You've seen multiple cycles, Dev. I'd love to get your take on where you think we are in this particular cycle. Dev Randhawa: Well, that's a good question. When you do listen to Rick Rule, like he'll tell you that... he giggles when we talked about the last cycle because he'll tell you he made more money in that cycle — in that commodity — alone than he ever did in his life. He said his worst performer was 22 to 1. But he said, "I had to hang in for some time." You know what? It's very hard to predict human nature, and so it's very difficult to say, but what I do know is history says that utilities for some reason do the exact opposite of what your investors do. They like to buy high. So what they, for example, when prices move up, they buy three times as much uranium as when it's doing nothing. There's a wonderful chart we've got I can send you. They tend to, they sit there and sit there and they all jumped in like lemmings, so went up from $7 a pound to $130 in the last cycle. At that time there were three mines coming online, but only six reactors being built. Today, there's like 25 being built and there are no mines coming online. It could be even more explosive this time. [Gold Has Hit Its “Magic Number”]( We think gold has just hit its “magic number” for maximum stock gains. And there’s a select group of stocks you own for maximum profits of 1,000%+. Our new research explains this thesis... and reveals the top 10 gold stocks you should own to profit from it. [Click here to get it now.]( One reason that utilities can take their sweet time is that it's only about two or four percent of your marginal cost, so it doesn't really matter to them at the end of the day. But matters much to us. Even last year, when Kazakhstan's dropped, said they were going to drop production and they wanted to focus on margins, every stock almost doubled. The good news is I think with the bottom of a market there's very few last men standing, as they would say. There's only a few handful, and all the money pours in at once. It gets very explosive, so to me there's no doubt we're at the bottom of the market, but I can't predict, I don't know if it's going to be three weeks or a year. But you keep seeing the right things. What we're seeing in the last cycle was there was a flood at Cigar Lake and a fire down at Ranger. This time, I think what we're seeing from the Kazakhs, they made another announcement a couple days ago that I saw that said they're going to be trying more OPEC style of controlling the price. They have 40, 45% of the production in the world from their in-situ leach (ISL) mines, and so they're really the drivers. De Beers controls the diamond market with less than 10% of the production. Well, Kazakhs have at 40%-50%, so I'm seeing all the things that you'd want to see lining up the stars, lining up to seeing a rapid move, and when it does there's going to be very few stocks for investors to own that are well-managed, well-funded, and world-class assets. There's not going to a lot of names. Gerardo Del Real: Excellent. Now, you mentioned the word, you used the word explosive and obviously, obviously the profit potential in a bull market, specifically in the uranium space, can be very, very explosive. I think that's also a word that both Rick Rule and Jeff Phillips used. Now, you've seen and worked through several of these cycles, Dev. For someone that is new to the junior resource world or speculating in uranium juniors, can you explain what people should look for in a uranium company? Dev Randhawa: Sure. Well, first of all, you want to look at the management. The end of the day, have they been through cycles before and have they created wealth? Have they just, you know, management's made a bunch of money and investors haven't? You want to make sure you've got a track record, management has a track record. Secondly, you want to make sure they're well-vested. When management and shareholders' goals are aligned, it's more fun for everybody. Number one is management, number two is asset. To me, there's no doubt that there's only two places in the world that I want to be looking for Uranium: Kazakhstan or Canada. Canada, and I say Canada, specifically Saskatchewan. Most of Canada's uranium is very low-grade, like the rest of the world. The Athabasca, where we are, I believe is the best place to be. The grades are 10, 20 times higher. Look, if you're going to dig a shovel and fill your truck full of rocks, you don't want to be 10 times worse than what you were doing before. So to me, number one is management. Number two is the property. Where is it, and can it be economic at low prices? Certainly there's very few, in my view, the Arrow and ours, Patterson Lake South (PLS), are two constant examples, which will be, in my view, amongst the lowest-cost producers in the world easily. The Kazakhs will always have the lowest because it's ISL mining and they don't have a lot of regulation. We have lots of regulation in Canada, but we're in a great... Number one is management, number two is jurisdiction and the type to deposit, so I think those are the two key things, making sure management's got the chips the same side of the table as you. Gold Miners Are For Suckers! Buy This Instead... Don’t get me wrong... I love certain elite gold miners. But most gold stocks are for the birds. Instead, my readers and I are putting our money on another type of gold play. One that smashes investments like bullion, coins, ETFs, futures, and companies like Barrick Gold. In short, it generates MAXIMUM profits from gold price swings, while cutting your risk by 87%. You’ve never seen a gold investment like it! [Click here for full details.]( Gerardo Del Real: Excellent. Now, my top pick in the uranium space is Fission Uranium. I think you absolutely have to start there. It has a world-class asset. You mentioned the top-notch management team. You obviously checked those boxes or checked that box, and it also has world-class exploration upside, which I think is going to come to start a little bit more into focus here in the upcoming program. Now, I think even in this market, Dev, I think Fission is undervalued relative to other companies in the space with a similar profile. For those that are not familiar with Fission Uranium, can you please go over what makes Fission so compelling? Dev Randhawa: Well, third-party people would say a couple years ago it was ranked the number one exploration project in the world. Not just for uranium, but copper, gold, everything, it was considered the best project in the world. It's because it's an absolute one of a kind. The uranium, for a long time, high-grade stuff in Canada was very deep, and the stuff in Africa was very low-grade but shallow. For the first time in history, you've got now, in a long time, a deposit that's very shallow in the Athabasca and high-grade, so it's done something in the first time in 50 years, someone's found a deposit that's high-grade, super high-grade, and only 50 meters from the surface. That's really what sets it apart in terms of an asset. The management team, if you bought one share of Strathmore like Rick did, long time ago when Rick Rule backed us, if you owned one share of Strathmore, today if you looked in your account you would have four different companies in there. You would have some Energy Fuels, you would have some Denison, Fission Uranium, and Fission 3.0. The thing that we have done is continually created value for our shareholders. We have very good technical team. The other thing is that we're very well financed. We have no debt in our company. Most of our competitors have chosen to take on debt. We chose not to. We don't think it's prudent for an exploration company with no cashflow to do that, but other groups have. That's their choice. So we have no debt, we're all cashed up, and we have the world's leader in uranium. We call them a mothership of the uranium industry, CGN, and so sets it apart as having a great deposit. Very high-grade, shallow, and management has created value and we have a great financial partner, CGN, which is a state-owned enterprise in China. Gerardo Del Real: Excellent. Can you explain a bit, for those that aren't familiar with CGN, they are a very supportive and large strategic shareholder of Fission. Can you give a bit of background on CGN and just the approach that they took to the commitment they made with Fission? Dev Randhawa: Well, yes, our stock was around 55, 60 cents, and they gave us money at 85 cents. It was like a massive premium because they wanted into this deal. CGN is both, they mine, they own a uranium mine. They've invested before. They've taken over companies. But they're also utility number one, and they are, as we speak, building a number of reactors, I believe six through eight as we speak, but another 20 planned. They're considered the biggest player, and I think by I think 2020 they'll be the largest user of uranium in the world. Here's a company who's giving you money at a high premium, which is good. We're not deluding ourselves. They gave us a whole bunch of money at a nice premium, and they know the industry. They use uranium. People will go to them. Like even the big players, mining companies, they'll go to them for money because they got so much capital and so much expertise. It's not a coincidence. They've looked all over the world, all over the world, and wanted to come Canada, they chose us as their partner, so we're very proud of relationship. They're great people, and in fact I'm looking forward to seeing them in Beijing in about 10 days. Gerardo Del Real: Excellent. Now, I should note that the recent financing that they participated in, the last financing they participated in to establish that position, was done at prices 40% higher than today's share price, so when you're investing in Fission you're investing along, as you mentioned, a powerhouse in the uranium space. Today's share price offers a pretty substantial discount. What's in store, Dev, for Fission in the next 6 to 12 months? What can we expect? Dev Randhawa: Well, in the next while, you know, for us, one step we have over a couple of other companies is that we're onto our pre-feasibility. We're getting ready to do some more work this winter and work on that, but also we found this new zone that's about two and a half kilometers, so roughly 1.4 miles, away from the main zone, which is looking like an identical twin of it, the way the rock is. It's a little deeper because the lake is... You know, the land is always a bit higher, so we're very excited about that. It's a brand-new area that we drilled out this winter, and in the summer we showed that it's actually exactly like that twin. Now, obviously needs a lot more drilling to show that it's got that 80 million pounds that we found over there, so that's pretty exciting for us. But also we want to stay ahead of the curve by doing more metallurgical work that you have to do to get your pre-feasibility. It's all a part of your mining plan you put in. 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Dev, is there anything else that you'd like to add? I want to thank you for your time. Is there anything else that you'd like to add? Dev Randhawa: Well, I mean, like Rick Rule says, you're a contrarian or you're a victim. As you know, Rick is one of my favorite people in the world. People should really listen to this guy. I mean, here's a guy who started with nothing and worth a lot of money. What he did is he wrote checks and was very patient. That's number one of all, and if you like being contrarian, there's no... It's like two years ago when people were buying coal stocks, no one understood it. Why are you buying coal, right? Last year I was buying zinc stocks. Look what's happened to them now. What's going to happen is it's going to all move at once, and all the easy money is gone. Like, Fission will go from 60 to a dollar, and two dollars, and people are going to go, "Wow." Then they jump in. So I think the key is for investors just to avoid that momentum kind of thinking, and be contrarian like Rick Rule. Gerardo Del Real: Excellent. Dev, thank you very much. It's been an absolute pleasure. Dev Randhawa: Thank you. Have great day. Gerardo Del Real: You too. All right, and we're off. Perfect, perfect, perfect. To your wealth, [gerardo-sig] Gerardo Del Real Editor, [Junior Mining Monthly]( and [Junior Mining Trader](. For the past decade, Gerardo Del Real has worked behind-the-scenes providing research, due diligence and advice to large institutional players, fund managers, newsletter writers and some of the most active high net worth investors in the resource space. Now, he is bringing his extensive experience to the public through [Outsider Club](, [Junior Mining Monthly](, and [Junior Mining Trader](. For more about Gerardo, check out his [editor page](. *Follow Outsider Club on [Facebook]( and [Twitter](. Enjoy reading this article? 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