Warren Irwin: A bright future for Uranium, NexGen and the Athabasca Basin
Warren Irwin founder and chief investment officer of Rosseau Asset Management limited. He discusses the founding and rise of Rosseau Asset Management through some very profitable investments, including Bre-x in Indonesia, profiting from it’s rise and it’s fall.
Warren is the biggest shareholder in NexGen, a major uranium producer and discusses the likely growth in demand going forward particularly in China where they are constructing many new nuclear power plants. New uranium mines will need to be built to meet this growing demand creating upward price pressure. NexGen has recently made a big new discovery with its Arrow deposit, this is the best undeveloped deposit in the world. The stock should be trading at multiples above where it is now based on the value of this deposit alone.
There is often a big lag between when a company makes a big new discovery and the reaction with the share price and the biggest lags usually come with the biggest discoveries.
The Athabasca basin is the richest area for uranium in the world, Warren discusses the relative merits of Investing in NexGen vs Fission Uranium based on the nature of their respective deposits and the best mining techniques. NexGen is likely to be easier to mine and so he believes it has the advantage..
Talking points from this weeks interview:
• Investing in NexGen vs Fission Uranium
• The uranium price is very likely to rise
• Security of supply is more important than price
• The Athabasca basin hold the worlds richest uranium deposits
Warren Irwin is president and chief investment officer of Rosseau Asset Management Ltd. He founded the firm in 1998 after several successful years as vice president and director of special investments at Deutsche Bank Canada. The firm’s flagship event driven hedge fund, Rosseau LP, was established on December 31, 1998, and has since earned a reputation for solid long-term performance earning over 50% the return of its benchmark index. Irwin started his career as a bond analyst for Scotia Capital Markets where he developed the Universe Bond Index, the Canadian bond market benchmark, and shortly thereafter developed and managed Canada’s first bond index fund. He is a Chartered Financial Analyst and holds a Bachelor of Mathematics from University of Waterloo and a Master of Business Administration from the University of Western Ontario.