As all eyes watched gold take a dive, the bottom fishers moved to take advantage of the Aurora’s lowly stock price with 424,000 shares traded, the stock gained $0.95 in a day.

It remains to be seen if these opportunists have got a good buy or not. It is certainly risky given the geo-political problems involving the Nunatsiavut Government which is considering a proposed three-year moratorium on uranium mining and milling on Labrador Inuit Lands in coastal Labrador.

We checked a few sources but did not find anything new to report regarding further developments on this issue.

We are of the opinion that the downside is now limited for this sector in general although there could be a little still to go. As the bigger issues of the world banking crises unfold its appears that anything and everything will be sold in order to generate cash to meet margin calls in the dizzy world of derivatives trading. The extent of which we can not measure, however we must be aware of their existence and possible impact on the tiny sector of uranium stocks.

Aurora Energy Resources Incorporated trades on the Toronto Stock Exchange under the symbol of AXU and closed at $6.50.

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