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« FRONTEER DEVELOPMENT GROUP: Up 4% today! | Main | FRONTEER compared to the XAU »

Uranium-stocks: Portfolio Update 09 Feb 07

The webs only free portfolio of uranium stocks, allegedly, provides a quick update of our uranium investments to date.

The following is a list of our uranium stocks and our current strategy for investment:

Cameco Corporation – Watch
Still not making the right noises for us to take a position. Until the Cigar Lake problem is properly identified and scoped to a meaningful plan we will not buy this one. Going sideways at $44.00 Canadian.

Rampart Ventures Limited – Watch
RPT is currently trading at $0.370 up slightly from last month. The volume is steady but thin; maybe the Split Rapids drill programme will produce some interesting results, remains on the Watch List

Uranium Participation Limited – Buy.
U is currently trading at $14.48 Canadian and is up 20% since we bought at $11.97. We will continue to accumulate when we can as we see this stock reflecting the rise in uranium without being exposed to the dangers inherent in mining operations.

Strateco Resources Inc – Watch
RSC is currently trading at $2.89 Canadian. We have been watching this one for some time but have not made an investment. Strateco has good volume and is holding on to its gains so we will watch for a pullback, if only! We do not own this one at the moment.

Fronteer Developments Group – Hold/Buy.
We have doubled our investment on this stock and sold 50% of our stake taking some money off the table. We thought that we had made a bad mistake in selling 50% as FRG just refused to lay down, however, we found some patients from somewhere and waited awhile, then the FRG pulled back about a buck so we re-entered the market buying even more than the 50% that we had sold as we were so impressed with its stubbornness. A bit like our secretary when we need a cup of coffee! We got back in at around $8.33 USD (we will be glad when we have a global currency as we do tend to forget which dollars we are trading in) anyway FRG is now at $11.10 for a gain of 33%. The original purchase was made on the 15 July 2006 at around the £4.70 level so that is showing a gain of 136%. You must never fall in love even with a uranium stock, but it is hard for us not to really like this one. This stock has met one of our main investment objectives, which is to buy only when we are convinced that it can double in value in 12 months or less, which it has done. A year from now though we expect this $11.00 price will look like a fire sale. We will accumulate when the cash is available.

Crosshair Exploration and Mining Corporation– Watch.
CXX did a terrific job of doubling in price for us but we decided to hold as we thought that it had further to run however it experienced some profit taking so we pulled the pin and sold in order to lock in a small profit. CXX is currently trading at $2.83 Canadian but we are not yet convinced that we should return. We will try that patient’s thing again!

Laramide Resources Limited – Buy
LAM is currently trading at $10.43 and has made great progress since we bought at $5.78 on the 28 July 2006 for a gain of around 80% (get your finger off that sell button) The volume is steady and the news flow is good so sit tight and hold on to this stock. The chances are that will be buying more rather than selling what we have.

Energy Metals Corporation – Watch
EMC was at $8.89 last month and is now at $10.86 and has progressed very well since we first wrote about it in September when it was trading around $5.70, which again is a super price rise. We do not own this one but just maybe an opportunistic entry level will show itself one day. If you bought it earlier and still own it then we suggest that you hang on to it as the volume is good and fairly steady and the news flow is encouraging. This could be one of those situations that we watch all the way and never quite manage to make an investment, where is that coffee?

Eagle Plains Resources – Buy
EPL was trading at $0.73 last month and is currently trading at $0.75. In between times it has been on a day trip to $0.90 Canadian, but suffered a nosebleed at such a dizzying height. The management here have the ability to develop and to spin off a project for a good return so keep a few of their shares in your portfolio.

Mega Uranium Limited – Buy
MGA was trading at $6.80 last month and is now around $5.90. We cant explain this drop in price but MGA is a quality uranium stock so we will probably put more cash into it should it go further down. If you know why it has dropped then please write and tell us what we have missed, thanks.

Rodinia Minerals Inc. – Watch
RM was $0.80 when we first wrote about it on 15 August 2006 and yesterday it closed at $1.27 Canadian for a gain of 58%, which is a terrific performance. Watch and be careful, the volume can be a little on the thin side for our liking, for instance only 25000 shares were traded yesterday. We do not own it at the moment but don’t be deterred by us.

Santoy Resources Limited – Buy (on dips when you can)
SAN is the latest addition to our portfolio and is doing well although we thought that $0.81 that we paid on 27 December 2006 was a little too much to pay for it. Well it closed at $1.00 yesterday, so what do we know!

We still remain confident enough to stick with our target prediction of $200.0 per pound for uranium with a possibility of it hitting $125.0 in 2007. In fact we are just finalizing an interesting and provocative exercise, which we are sure, will convince you that we are well and truly bonkers. Watch this space, as we will post it here for your perusal shortly.

Please don’t be shy about sending us your comments we really do appreciate them.

Many thanks to all of you who have signed up for our newsletter, your response has been absolutely staggering and we are grateful and indeed humbled by the numbers now joining on a daily basis. We are glad that they invented email, as we couldn’t afford the postage! We now have readers in Canada, China, Australia, America, Europe, Africa, Australia and some we don’t recognize, probably Martians.

Please accept our apologies if we have not responded to your particular email we will try to do better next time.

Good luck

09 February 2007

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