Initiating Coverage
We are initiating coverage of Labrador Uranium Inc. (CSE:LUR) with a BUY rating and a C$1.60/sh target price. Labrador Uranium is a new and unique exploration vehicle focused on the consolidation, exploration and development of uranium and vanadium projects in Newfoundland & Labrador. It was spun-out of Consolidated Uranium (TSXV:CUR, BUY, C$4.15 target, David A. Talbot). Labrador Uranium has built a project portfolio that includes Moran Lake, Central Mineral Belt (CMB), Notakwanon, and Mustang Lake. In our view, LUR has a strong management team that is well positioned to advance its projects in a top-tier mining jurisdiction.
