We have got very crappy markets and people with the money are the ones who hold the gold, right? They can set the terms all they want, but this is a great- well, we won the best project in the world 2015. There is no book on how to do deals in a crappy market, thats our problem, right, obviously is. I met Lukas and we were talking about it directly at the BMO conference, right? A lot of reasons but, obviously, if I know they are going to do a deal, I am not sure I will- even the Denison deal took six months. Maybe the Denison deal kind of woke them up, hold on we may not get a chance to invest in it. Some say knowing that somebody else will make a run at us moved the agenda for them. But I think what triggered for them was the PEA. It took eighteen months and it is a long time in the life of a company. Actually I probably would say it was eighteen months ago now I think about it. Just so you know our first meeting to get a deal done was sixteen months ago. As a result everything takes much, much longer. They have put in new anti-corruption laws a while ago. They are state-owned companies in China have to go very slow. The Chinese, they were always there, but they always told us they could not move for quite some time, and that is just the fundamental problem. There is just a couple of myths about that project that people were not always aware of. Those two things were purposely put into place to make sure that the decision was very well informed. Also, we made sure our PEA came up in the middle of it which would tell us how good this project is at first glance by simply looking at the economic point of view. Securities log was about 50%, “That is all you need, Dev, Go for it,” right, but we did not do that. But we could have done that differently just moving the fractions around here and there. Also if you notice there was a PEA in the middle of it, meaning that we believe that investors reserve the right to vote with all the information.Ĭouple things that are not always understood by people that that is it was over 50% who voted and wanted a deal but not 57%. We could have done it at 50% so we purposely picked the higher threshold making sure that is exactly what everybody wanted, the most is 67%, right? Some say we are Machiavellian about it. When you do takeovers, believe it or not you can actually adjust how high you got to jump. But we as the management team set the bar very high. Well, first of all, actually most of the investors said yes over 50+ percent already said yes. But the very interesting thing is just a couple months later you have now secured a major financing from the Chinese making me question, do you think that the shareholders had the right thing in mind with saying, “Hey, this asset is even superior to the peers and we want to keep this separate?”ĭR: Yes. That ultimately fell through due to shareholders not voting it through. Let us start with mentioning late last year there was a plan between Denison and Fission to merge the two companies. The company has really bucked the trend for the last couple of years under your leadership. But, anyway, I want to talk to you about Fission. I remember, Dev, we actually met for the first time at the San Francisco show which is another show that no longer exists it is being replaced this year. You cannot hide behind the online world all day, right?ĬK: Well, that is true. I do not know in the next show unless it is going to be Sprott, so Rick Rule does. It is funny we are going to have peak action. Honestly, we do need more of that because the internet will not go so far deals are cut eye to eye. There are no regular ways for people to meet. We used to have the San Francisco show in something like Thanksgiving time in the US. Like you said there is a lot less shows now. It is obviously a lot less booths but that is obvious in a bear market you are going to get that. It's always good to meet, you know, see old friends again. How is the Cambridge show this year?ĭR: Well, it is really good they sure did a great job. Kettell.ĬK: I want to start out by asking you since you are at the show and there are not too many more shows left these days. Dev, welcome to the program.įounder, CEO and Chairman of Fission Uranium, Dev Randhawa: Thank you very much for having me Mr. If you are unfamiliar with Fission and you have missed the hottest story in uranium in the past couple years, in just two years the Patterson Lake South Project was taken from discovery to resource estimate and is now at the PEA level classified as the largest undeveloped uranium asset in the Athabasca Basin. Joining us on the line today from the Cambridge Show in Vancouver is Dev Randhawa, Founder, CEO and Chairman of Fission Uranium. Palisade Radio Host, Collin Kettell: Welcome to another episode of Palisade Radio. Palisade Radio is brought to you by First Majestic Silver Corp., one of the world’s purest and fastest growing silver mining companies.
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