Aurora Energy Resources: to add 42/lbs million of uranium
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Topic: Uranium Mining Stocks — August 28th, 2007
According to the FP Trading Desk Aurora Energy Resources Incorporated is expected to add 42 million pounds of uranium to its resources base.
A steady flow of news should now be forth coming as the drill programme advances towards its target of a minimum of 75,000 metres in 2007.
A quick look at the chart and we can see that Aurora is back on the recovery trail with the stock price heading north and all of the technical indicators turning positive.
Once the price of uranium stabilises removing some of the uncertainty we should see quality uranium stocks such as Aurora do well.
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Most of these uranium stocks are moving in tandem with the market, so it’s rare one or two drop significantly below the rest. As for AXU, I have been waiting for a buy-in level and decided that today was that day. I may not have gotten the bottom at 11.92, but no one knows where that is (probably was on Aug. 16th). To be able to own a quality stock like AXU with significant resources already at the NI 43-101 compliant stage, and apparently more news to come, gives me some comfort for the time when uranium prices will again turn positive. Same goes for UUU.
That’s an interesting call on the spot price bottom at $85. You have a good track record so far, so we will see.
Bob G
Comment by stoneygulch — September 6, 2007 @ 5:05 am