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A Conversation with Dev Randhawa, CEO of Fission 3.0

Why Nuclear Reactor Construction is at a Global 25-year High.

China woke up and is building nuclear facilities out of necessity, due to waste and pollution in major cities.

The world is realizing that wind and solar and wind energy can’t serve the entire market; renewables aren’t ready to replace fossil fuels.

As a result, 50% of Germany’s energy comes from coal and lignite, in the U.S. the California government is asking their citizens to stop charging their electric vehicles and European citizens are struggling to pay their energy bills.

Japan and Korea are reactivating old and building new reactors.

There’s nothing like a global energy crisis to remind the world about the benefits of nuclear power.

Global Nuclear Reactors Under Construction

Source: Fission 3.0

The Fission 3.0 Story

If you owned a share of Strathmore Minerals in 2007, you would own four active companies in your portfolio today (i.e., Energy Fuels, Fission Uranium, Denison Mines and Fission 3.0).

Track record and expansion momentum is important to Dev and the company.

The Company’s management, headed up by Dev Randhawa as CEO & Chairman and Raymond Ashley, P.Geo., is the team that founded Fission Uranium and made the Patterson Lake South (PLS) high-grade discovery.

The company was taken public by Peter Grosskopf, (founder of Newcrest Capital and current CEO of Sprott Asset Management) and initially set up a joint venture with the Korean Electric power company, which provided funding for exploration.

The same team also founded Fission Energy Corp., making the J-Zone high-grade discovery in the Athabasca Basin and building Fission into a TSX Venture 50 Company.

In April 2013 Fission Energy sold most of its assets to Denison Mines (including its Waterbury Lake property) for $85 million.

Fission Uranium Corp. was spun out of the deal with Denison. Fission 3.0 is the third generation Fission run by one of Canada’s leading uranium exploration teams.

The team’s track record is substantial –a series of successful discoveries and sales over the years culminated in the group of exploration assets known today as Fission 3.0.

The company has a history of usig specialized and innovative approaches to exploration and discovery, leading to the acquisition and sale of some lucrative properties.

The History of Fission 3.0

Source: Fission 3.0

A Meticulous Approach

The priority in junior mining companies is management.

Fission 3.0 is very careful that all the essential ingredients are there before drilling takes place.

In the Athabasca its cheap to conduct geological surveys and exploration, but expensive to drill.

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The company makes sure that all the right boxes are checked to find high-grade uranium before the process starts.

Their priority is finding only tier 1 deposits.

According to the company, they’ve discovered the best hole in decades compared to Arrow, ISO, RRR and others. They estimate the most recent find could be between 20% and 70% uranium.

Fission 3.0’s Approach to Exploration

Source: Fission 3.0

The stock has increased off the back of recent successful drill results by 400 percent, and the company recently raised $8 million led by Red Cloud Securities and Sprott to fund future drilling.

According to the assay lab results which will come back soon, they should be looking at massive black pitch uranium.

Property & Discoveries

The company is taking the same approach from past discoveries.

The team has learned the “attitude” or the geometry of their site, meaning identifying what fluids are forcing the uranium up.

Looking at the property map, the green conductor is very long and sits above and below successful drill results from other explorers.

The main road goes through the middle of the property and is travelable 365 days/year.

Fusion 3.0 has four holes – the discovery hole, two holes up dip and one below.

The property features a lot of land to operate, the company eagerly awaits their assays to return from the lab by the end of 2022.

Property and Drill Result Map

Source: Fission 3.0

Uranium stocks are inextricably tied to uranium spot prices.

Dev doesn’t think prices will increase anytime soon as he believes the general markets are holding down prices.

He doesn’t require the price to go up; Fission 3.0 has a great story based on assays alone.

If investors want to get into uranium, the smart play is to get in early, as there are a relatively small number of companies with great management and teams behind exploration and discovery.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

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Categories: Conferences
Scott Willis: Scott has over 15 years of institutional investment management experience analyzing both debt and equity securities. He has held senior investment research roles at Credit Suisse, and TD Asset Management. His core areas of investment coverage at Grizzle include marijuana, energy and technology. Scott is a CFA charterholder and has been featured on Bloomberg, CBC, CNBC and Macleans.
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