Was at Hathor's display at PDAC today from about 12:30-1 p.m. Tony Nunziata was manning the booth as Michael Gunning was in meetings all day. Tony is very personable and extremely knowledgeable about all aspects of the company and very enthusiastic . He does have a large personal stake in the compnay, but I sensesd that his enthusiasm was definitely genuine. He stressed how undervalued we currently are. The grade and purity of the ore as well as the proximity to infrastructure should provide the company a premium discount (presumably in a take-out scenario) (he cited $12-$14/pound) and that with 50 million pounds we should have an MCAP of $500 million (versus the current ~$333 million) .

Potential drivers of the SP?.. 1) Permit to mine on the near horizon. Would be the first mining permit in the Athabaska Basin in 20 years (last was Cameco's Cigar Lake). The intention is not to mine the deposit but to package it up nicely for a major who would likely have stronger designs as it reaches a critical mass (?60,70,80 million pounds) . 2) Updated resource estimate (late April-early May),. 3) graduation to the big board over the next several weeks. 4) Scoping study in the second half of the year. When asked about the recent SP decline, he stressed that ~60% of the shares are in strong hands....the usual vagaries of the market due to day-traders, small pullback in the price of uranium, TSX pullback...

Tony stressed that the market is giving Hathor absolutely nil credit for the Russel property. ~6000 meters of drilliing planned this year (~10 holes of 600m length over 6,7 or 8 identified targets). Property would require ~300 holes to drill up properly, and would require a partner to assist with the estimated $30-40 million drilling cost. Presumably this might be spun-off, and Tony said that this could be the last PDAC for Hathor ( at least in its present form , was my understanding of his words).

Most of this synopsis should be old news to longtime holders of HAT. Interestingly, while I was at the booth a couple of young guys from a French firm called EDF approached. (EDF operates 58 nuclear reactors in France). They seemed quite interested. They were a bit cryptic when they were queried as to whether they were looking to invest in the company (Ie. taking a position for investment purposes vs. interest in locking up a future ore supply) perhaps playing a bit on the "language barrier" (my interpretation only). I was quite imprssed by the interest of a player this size, but Tony was non-plussed by it, as it apparently sniffing by the majors is the norm.

...The shares held by this poster, won't be released any time soon!

Cheers, Luker