Topic: How To Invest

Pat: Did I read that De Beers was working on a CanAlaska property in Saskatchewan? Thanks.

Article Excerpt

A: CanAlaska Uranium, $0.98, symbol CVV on the TSX Venture Exchange (Shares outstanding: 26.7 million; Market cap: $29.3 million; www.canalaska.com), explores for uranium—and now diamonds—in Saskatchewan’s Athabasca Basin region. The stock has moved up this year as the company took on a couple of big joint-venture partners (Cameco and De Beers). It also branched out into diamond exploration. CanAlaska has explored for uranium for many years.   Until January 2016, the company had another joint venture agreement in place for its West McArthur project in the Athabaska basin. Under the terms of that deal with giant Mitsubishi Corp., the Japanese company would receive 50% interest in the property for its investment of $14.4 million in exploration spending. However, Mitsubishi pulled out by selling its interest to CanAlaska in exchange for $600,000 and a 1% royalty arrangement. In February, Canadian major Cameco (symbol CCO on Toronto, and a recommendation of Stock Pickers…