CANALASKA URANIUM $0.18 (Toronto symbol CVV; SI Rating: Start-up) (1-800-667-1870; www.canalaska.com; Shares outstanding: 137.8 million; Market cap: $24.8 million) continues to sign joint-venture partnerships to fund exploration drilling on its seventeen 100%-owned uranium properties in Saskatchewan’s Athabasca Basin region.
The company’s partners include Japan’s giant Mitsubishi Corp., Chinese mining firm East Resources Inc. and a consortium of Korean companies that consists of Hanwha Corporation, Korea Electric Power, Korea Resources and SK Energy. CanAlaska holds cash of $8.6 million.
CanAlaska owns a large amount of land that contains lots of drilling prospects. Moreover, it has personnel with expertise in exploration and mine building, specifically in the Athabasca Basin region. The company is budgeting for an extensive fall-winter exploration program, which will be partly financed by its joint venture partnerships.
CanAlaska Uranium is a buy for highly aggressive investors.
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