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« Incentives for a Boom in the construction of nuclear reactors! | Main | Aurora Energy Resources Inc: Update »
Wednesday
Oct102007

Laramide Resources: Up 8.32% yesterday!

LAM Logo 10oct07
The recovery continues for uranium stocks and yesterday it was Laramide Resources that took its place in the sun with a sparkling performance.

Laramide gained $0.63 to close at $8.20 on volume of 407,000 on the Toronto Stock Exchange where it trades under the symbol of LAM. This uranium stock was severely sold off in August during the scramble for cash and traded below $5.00 so it is pleasing to see investors coming back into this thinly traded market sector where the spot price of uranium at times can be a matter of opinion. However investors are now focused on the longer term uranium price rather than the spot price which is much more stable and less subject to the sometimes erratic behaviour of the spot price. The news flow continues to be good with the purchase of 5.6 million shares of Khan Resources and the recent acquisition of the Thunder Lake property.

A quick look at the chart and we can see Laramide has made good progress since the August sell-off and we hope to see it trade in double figures in the near term.

LAM Chart 10oct07



This uranium stock remains part of our core position and we expect it to double from here within the next twelve months or so.

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Reader Comments (2)

Yes, great, I'm an investor and really believe in Laramide, and of course is happy by the gain. But - I still wonder why the LAM-race yesterday (and it holds today) when all other quality uranium companys did not move at all when LAM did +9%. Any explanation?

October 10, 2007 | Unregistered CommenterHaliburton

We dont know what the is the answer. However, if a highly respected analyst or an influential broker sent out a buy note to his readers then just may be some of them bought at the same time.

Also remember that this is a thinly traded market so it does not take a lot of action to send a stock either way.

October 11, 2007 | Unregistered CommenterUranium Stocks

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