Hathor Exploration* (HAT : TSX-V : $1.64), Net Change: 0.17, % Change: 11.56%, Volume: 1,863,814
Stop sleeping? Hathor published the final set of assays from its 2010 winter drilling at Roughrider, including two very
impressive intercepts containing 55.91% U3O8 over 9.5 metres and 43.64% U3O8 over 7.5 metres. Canaccord Genuity Senior
Mining Analyst Eric Zaunscherb believes these results, the highest grades ever recorded at Roughrider, confirm the presence of
high-grade U3O8 in areas of low-grade mineralization in the current resource model and validate his view that closer-spaced
drilling could reveal new high-grade pods of mineralization where none were previously indicated. Hathor’s share price may
benefit from the following near-term catalysts: i) Steady news flow as assays are released from the Midwest NorthEast winter
program; ii) Strengthening of spot uranium price indicators as seasonal weakness passes and the market digests the U.S.
Department of Energy’s inventory auction; and iii) Anticipation of summer drill programs at Midwest NorthEast, Henday and
Russell Lake. Denison Mines’ (DML) efforts this summer at Wheeler River, adjoining Russell Lake, should also impact
Hathor. While the geological characteristics emerging at Roughrider East zone are fundamentally positive, the market seems
lulled to sleep by a languishing uranium spot market and a mañana attitude. The lack of urgency is surely a reflection of the
uranium spot market but Zaunscherb expects this to pick up as 2010 unfolds.