CanAlaska Uranium (TSXV:CVV) Chief Peter Dasler tells me he’s about to become a ten year overnight success.
That’s how long he’s been at the helm of tiny CanAlaska, which has potential exposure to multiple uranium and diamond discoveries. The company maintains one of the largest land positions in Saskatchewan’s Athabasca Basin, and among the tightest share structures on the TSXV.
CanAlaska has a roughly $8 million market cap with about $1 million in cash, trading at less than 25% of its pre-Fukushima nuclear disaster value.
CanAlaska is jockeying to be the next NexGen or Fission, two nearby uranium successes, both with market caps over $500 million from their first discoveries.
Cameco, Canada’s largest uranium producer, is helping CanAlaska by funding a $12.5 million work program at the West McArthur property (Cameco can earn 60%), adjacent to Cameco’s recently announced high-grade Fox Lake uranium discovery. CanAlaska and Cameco are currently finalizing details of a summer drill program.
That’s not CanAlaska’s only option for a uranium discovery. Denison Mines has hit uranium with the first hole at CanAlaska’s Moon South property in their recent Winter program (Denison can earn up to 70% of Moon South). Dasler is expecting additional drilling to be carried out, possibly this summer.