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By: AllPennyStocks.com
Less glamorous than many of its opposite numbers in the mineral field, uranium
is nonetheless valuable and applicable to a number of uses. Apart from its use
in nuclear fission, uranium has been proven useful as a colorant in uranium
glass, producing orange-red to lemon yellow hues. It was also used for tinting
and shading in early photography, in lamp filaments, to improve the appearance
of dentures, and in the leather and wood industries for stains and dyes.
While the search for uranium (named for the planet Uranus) is less high-profile
than other minerals, one Quebec-based company is loudly trumpeting the progress
it has made finding and developing the mineral. Dios Exploration Inc. (TSX-Venture:DOS), headquartered in Montreal, announced in mid-to-late February developments
on its wholly-owned Hotish uranium project, Otish Basin, Quebec: GODZILA showing
returns up to 0.66% uranium oxide (periodic table symbol U3O8) over a one-metre
true width.
Also, as company management astutely pointed out, U.S. President Barack Obama
this week announced two nuclear plants for power generation in Georgia, and
renewed its commitment to green power, including nuclear power, which is
considered a clean form of energy, and which is fed principally by uranium.
Because variety is the spice of life, DOS prides itself on the diversity of its
main minerals. Its 5,300 mining claims cover over 2,750 square kilometres in key
areas of central Quebec and the Otish Mountains. The claims have a high
potential in uranium and diamonds. Dios’ business strategy is to generate
exploration projects from the scientific concept to feasibility and develop them
either alone or through joint venture.
What’s more, last December, DOS acquired a series of claims called the Shipshaw
property and is preparing to test drill a carbonatite target for strategic
metals (niobium, tantalum) and rare earths less than 3,000 metres from the
operating Niobec niobium mine located in Quebec.
The Niobec niobium mine was discovered in the late 1960s. Also, some syenite
outcrops have been noted on the DOS property, as well as Trenton limestones.
If there is one fly in the ointment, it’s that the company’s stock is near its
52-week peak of 28 cents, set only the week before (having sunk to a gulch of
eight cents last March). The day of the announcement about GODZILLA found the
price around 24 cents, on somewhat subdued volume. But developments from south
of the border, and the company’s commitment to finding sources of clean energy,
could bring the stock price out of that range before too long.
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