Lifted this from another forum today... reportedly written by David Pescod

"As we’ve written way too frequently, the uranium business

is something that is very much out of vogue these days

and spot uranium prices are now flirting with the $46—$47

barrier. It’s a sector like natural gas—beaten up, but we are

also now going into the time of year that cyclically, uranium

tends to be stronger. We hope that pattern persists and rescues

us from a story or two that has been hurt.

In the meantime, probably the best exploration play in

uranium is Hathor Exploration, and it has been pummelled

too. So yesterday, it was interesting to see the market

pounce back on Hathor as they announced a couple of drilling

results...well not so much drilling results, but hints of

drilling results, as actual results are pending, but with scentilometers

going off the scale, you get the feeling that you

can count on them having found something in another hole.

Before the markets opened yesterday, the Coffin Brothers

wrote in the Hard Rock Analyst—Special Delivery, “Hathor

was halted this morning to announce it has made a new discovery

within the Midwest Northeast project. It is important

that this not more results from the Roughrider zone and that

this new zone is located 200 metres east of Roughrider.

More drill holes are needed to get a proper handle on how

the two zones relate to each other. What can be said at this

point that the visuals and gamma counts are indicating a

drill hole as significant as the one that marked the original

Roughrider discovery. There are several +3 metre off-scale

plus numerous narrower sections of high count within an

overall mineralized intersection with a 56 metres vertical

extent...This is a major expansion of the project’s potential”

the Coffins wrote.

At the time, before the markets had opened, the Coffin’s

had written “whether the market immediately picks up on

that right away is a tough question, especially with the uranium

out of favor, but it should put Hathor back on track as

its importance is recognized.”

When we caught up with Eric Coffin late yesterday, he

suggested the bottom line on the Hathor development was

that they had found “a big hole.” He suggested that their

concern was what the market would do about it...whether

they would care it being in the out of vogue sector and he

suggests they were quite pleased with how it was accepted.

Coffin also suggested the big implication is that it’s not a

one-trick pony anymore. They now have another zone or

heaven forbid—if the two holes in anyway connect, the implications

Tony Nunziata does the PR for Hathor and needless to

say he was a bit of a happy guy yesterday after Hathor (with

interesting drilling results consistently) has not attracted

the market attention. He suggests that with the additional

discovery—that a wow! But if there is a shot that those two

discoveries connecting with the 200 metres in between, the

potential for resource had Tony getting a little bit excited.

Heck, he even gave us a number as the potential new resource

he is dreaming of and well, there is just a lot of zeros

in that number and we will protect him from himself.

Tony also mentions that the Hathor people will be off on

a trip to China in three to four weeks and there are several

interests in China that already have CA’s signed with the

company, so this folks, could suddenly get very interesting.

Meanwhile, there will be more results from the drilling

coming out in the next few months, a resource estimate

coming up early winter to late winter and then what could be

a very definitive drilling program this coming winter.

This story, which has been disappointing for the last six

months, suddenly becomes quite interesting again.

Canaccord analyst Eric Zaunscherb adds, “Despite the

new discovery, we have no assays or additional pierce

points to work with. Consequently, we maintain our valuation

approach albeit with increased confidence.” He maintains

a $4.50 target."