News

March 12, 2009

Forum Brings More Than A Century’s Worth Of Experience In Uranium Geology To Its Work On The Athabasca And Thelon Basins

By Rob Davies

There is no substitute for experience. While some of the young managers at the world’s formerly great financial institutions might not agree with that, there is little doubt in the exploration business that it’s years in the saddle that count. Few companies appreciate that more than little Forum Uranium. It might only be capitalised at US$4 million, but it can point to a total of 128 years of uranium exploration experience in its management team. Crucially, that experience has been acquired in the process of discovering over 332 million pounds of uranium, including the Key Lake mine. Chief executive Rick Mazur has now assembled a team of five minefinders to tackle the Athabasca and Thelon Basins of Canada. In case you are wondering why he is focused on these two regions the answer is simple. That is where 1.8 billion pounds of uranium has been found, and the Athabasca Basin is currently the source of 25 per cent of world production. Looking for metals where you know they exist is a well established geological short-cut.

Forum has three projects on the go at the moment: Key Lake Road, Henday and North Thelon. Key Lake Road is the lowest priority and Rick is happy to admit that he is seeking joint venture partners for this one. Not that he is pessimistic over its potential but, as a small company, he has to focus his resources on the best projects while maintaining as much news flow as possible. Henday is the property with the best prospects in the short term, not least because Hathor Exploration, finder of the...