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StockInterview: What do you like about Energy Metals?

Kevin Bambrough: I’m happy to say that we’re a very large shareholder of Energy Metals, and I continue to love the story. The most recent presentation they gave shows what the company will look like after they fully complete the Standard Uranium and Quincy Energy mergers. The combined entity in their presentation shows to have about 236 million pounds of uranium resources, I believe, and a market cap of around C$360 million with $60 million in cash. We’re still a shareholder of Paladin (TSX: PDN). I think we’re up about 40 or 50 times on the first shares we bought. If you compare the two, you’ve got a market cap of close to C$2 billion on Paladin with around 180 million pounds. If you look, you’ll notice the real big move in market cap occurred, when Paladin started to get close to production and they signed contracts.

Now Energy Metals has about one-fifth of the market cap and a fully permitted ISL facility down in Texas. They’re at the point where they’re going to sign the contracts and move forward into production. I think people are going to wake up and start giving them more credit. I think that positive permitting developments will continue to occur in places like New Mexico. Obviously, the friendly environment in Wyoming for bringing on production will make Energy Metals perform very well going forward. It’s going to be fantastic for shareholders if it can duplicate the move that Paladin has over the last year or so.

StockInterview: You said earlier “common sense would prevail” in New Mexico. How does that impact Energy Metals?

Kevin Bambrough: New Mexico is more in the back burner for now, but I think the stock (Energy Metals) will continue to perform well as the regulatory environment continues to improve in the area. I should touch on Strathmore Minerals (TSX: STM). We’ve been pleased to see they’ve been bringing out their (National Instrument) 43-101’s on a couple of their (New Mexico) properties and show an increase in reserves. I believe they’re doing some work right now on their Dieter Lake project up in Quebec that could be interesting. They’ve got some good resources and reserves. I think at some point, someone is going to want to cut some deals with them, or they’re going to just keep chugging along and bringing things forward.

StockInterview: You were excited about Tournigan (TSX: TVC) the last time we talked. How is that one turning out?

Kevin Bambrough: Tournigan is really developing into a great story. Originally, when we first got into this, it looked reasonably valued and interesting on its gold prospects. When they picked up deposits in Slovakia, we got in deeper. I think the story just keeps getting better as we look more into what they actually may have in these properties. They’ve also brought on a new hire, who was the head of the Slovakia uranium program years ago. He’s joined the team and he’s basically said that the Jahodna district) is probably not just a 3km strike length but probably more of a 7km potential. The current resource estimates are only based on 500 meters of the zone. They’re going to start stepping out and drilling it.

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