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« URANIUM STOCKS: The Sideways Shuffle? | Main | URANIUM: Stocks down, uranium up! »
Monday
Sep182006

ENERGY METALS CORP: Buying opportunity approaching?

emcLogo1


ENERGY METALS CORP: Buying opportunity approaching?


Energy Metals Corporation is a Canadian company listed on the TSX, with a large portfolio of uranium properties in the States of Colorado, Utah, Nevada, Oregon and Arizona. Energy Metals Corporation (EMC) also owns advanced property holdings in Wyoming,Texas and New Mexico.

Geopolitically this appeals to us as these locations are as 'safe' a place to invest as any. The United States is a massive user of uranium so EMC is well position geographically as they are right on the door step of a major client.

There are currently 65 million shares at $5.60 which gives us a quoted market value of $364 million. However when we include the options and warrants that are outstanding, the fully diluted shares totals some 79 million. To us this is a significant consideration. If we divide the market value by 79 million we arrive at a share price of $4.38. We believe that the demand for uranium will continue to grow and Energy Metals Corporation is well positioned to benefit from the rise in the price of uranium but we feel the stock price is a little ahead of itself at the moment, so once again we will wait and observe this stocks activity.

From the chart we can see that this stock has bounced off its 200 DMA, the RSI is middling along as is the MACD and the stochastics are pointing downwards.

emcChart18sep06

Energy Metals Corporation trades on the TSX as EMC

18 September 2006.

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