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« UraMin Inc: Starts the day Up 4.13% | Main | Nuclear Britain: Too little Too late! »
Tuesday
May292007

Uranium-stocks: Portfolio Update 29 May 2007

Uranium Progress chart:

Uranium Chart 29 May 07

An interesting few weeks with three new acquisitions and one uranium stock being sold as we continue to position ourselves in this hot market sector.

Below we list the uranium stocks that we have an interest in or are watching with the view to making a future investment.

Cameco Corporation – Watch
Despite their problems Cameco continue to edge forward and now trade at $55.09 on TSE.

RPT Uranium Corp – Buy.
We bought RPT on the 19th February 2007 for $0.42 and it is currently trading at $0.46, the stock has been up to $0.48 and down to $0.36. We envisage the oscillations continuing although an upward trend does appear to be forming. This is a small company with a market capitalisation of $28 million.

Uranium Participation Limited – Buy
U is currently trading at $16.02 Canadian and is up 33.8% since we bought at $11.97 on 21 November 2006, although off its recent highs we are relaxed about it. We will continue to hold, as it is a direct uranium play without the risks inherent in mining.

Strateco Resources Inc – Watch
RSC is currently trading at $3.23, which is down a touch from last month. We have been watching this one for some time but have not made an investment, which is sad as it is going really well. Strateco has had minor pullbacks but we failed to move! Congratulations if you did buy it from all the team here. The cheaper entry level that we had hoped for would appear to have passed us by however the current market pull back may well present us with a buying opportunity.

Fronteer Developments Group – Buy
Fronteer is currently trading at US$11.97. Our original purchase was made on the 15 July 2006 at around the $4.70 level so that is showing a gain of 154%. As you may recall we sold 50% at $9.29 and bought back in at a cheaper level of $8.33, which is now showing a profit of 77%. We are still quietly confident that it can double in value in 12 months or less.

Crosshair Exploration and Mining Corporation– Neutral.
Having taken a small profit we continue to watch CXX. The stock is trading at $2.91 Canadian and we are still neutral at the moment, as it appears to be going sideways. Listing on the AMEX will give this stock more exposure but since hitting a high of $4.0 in December it has struggled to stay above $3.0.

Laramide Resources Limited – Buy
Having recently traded at $14.73 this stock has now dropped to $10.94 we bought at $5.78 on the 28 July 2006 so we are still showing a gain of around 89%. When we were sitting on a paper profit of around 80% we sold half in order to buy other uranium stocks, as we needed a bigger spread of stocks.

Energy Metals Corporation – Watch
EMC is now trading at $17.71 and has progressed extremely well since we first wrote about it in September when it was trading around $5.70. We missed the boat completely with this one so we can now only watch and wait for a possible entry point. If you bought it then well done.

Eagle Plains Resources – Buy
EPL was trading at $0.90 in the last update and is currently trading at $0.71, back to square one. We still hold the belief that EPL will be issuing good news on the results front this year so we will hold tight.

Mega Uranium Limited – Buy
We first bought MEGA at around $4.0 on 27 July 2006. MGA is now trading at $6.19 for a gain of 54%. MGA has taken a battering during the recent sell off, but this is a thin market and profit taking will hit these stocks from time to time.

Rodinia Minerals Inc. – Watch
RM was $0.80 when we first wrote about it on 15 August 2006 and is currently trading at $1.05 so it has put on 31%. The volume is still a little on the low side so but it is moving in the right direction.

Santoy Resources Limited – Sold
Santoy was doing very well up from $0.81 that we paid on 27 December 2006 to trade at $1.53 at the time of the last update. However having decided to sell three of its projects to Mega for 400,000 common shares in Mega we decided to sell. We sold on 23 April 2007 at $1.39 for a profit of 70%. Santoy now trades at $0.90 and this may be a good re-entry level but we will watch for the moment. We would have preferred Santoy to keep its assets and push on with their development as we can buy shares in Mega directly.

Khan Resources Ltd - Buy
We bought Khan on the 5th March at $3.63 and it is now trading at $4.30 for a gain of 18%. Khan got off to great start but has slipped back in recent weeks.

Aurora Energy Resources - Buy
We bought Aurora on the 5th March 2007 at $14.17 and it is trading at $17.97 for a gain of 27% as we write, a victim of the market shake out, it dropped shortly after we bought it but it is now ticking along fairly well having reached the $20 level before pulling back.

Strathmore Mineral Corporation - Buy
We bought Strathmore on the 14th April 2007 at $4.96 and it is currently trading at $4.83 for a small loss as we write.

Ur-Energy - Buy
We bought Ur-Energy on the 23rd April 2007 at $4.75 and it is presently trading at $4.20 for a loss of 13% as we write. Quit a bumpy start for this one.

UraMin Incorporated - Buy
We bought UraMin on the 15th May 2007 at $6.72 and it is now trading at $6.66 for a small loss as we write. Early days yet and the interest shown by the Chinese could well bear fruit.

Uranium:
We still remain confident enough to stick with our target prediction of $200.0 per pound for uranium with the UX Consulting Company putting uranium spot price at $125.0/lb as we write.
Don’t be put off if we haven’t mentioned your favourite stock we do get it wrong now and again as evidenced reading our updates we have missed some good ones. We can’t win them all but we will try and win most them, as it is our money that is on the block every time we make an investment.

Please feel free to add your comments to any of our articles whether you agree with us or not as this will add balance to what we say and be of benefit to everyone.

Our IT expert, Dan Chubb of Dansway Communications has now installed a number of protective measures on the Forum, which should prevent the unwanted Spam that we have been swamped with. Please accept our apologies if you were unfortunate enough to visit the site when this nonsense was present. Please feel free if you haven’t joined to sign up and get involved with some of the debates, it’s pleasing to see just how well informed our readers are.

Many thanks to all of you who have signed up for our newsletter; we hope that you are enjoying it. We now have 2380 subscribers, which include a number of banks and financial institutions.

We have been inundated with requests for individual advice, which we are not allowed to give by law so please accept our apologies for not piling in to help you. There have also received a number of requests to cover individual uranium stocks or unique geographical areas, which we will try and get to in the weeks ahead.
Have a great week and look out for the results of the sealed bids auction to be held on the 30th May, we have plumbed for $140/lb but as you know optimism rules here.

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Reader Comments (11)

Any info concerning uranium assets of very interesting co.called Sierra gold corp.from Sierra leone??

May 30, 2007 | Unregistered CommenterLen Fore

Deep Yellow - DYL on the Australian Stock Exchange has a lot of property around the Paladin Nambia minesite. Palladin owns over 10%, plus there are more licenses in Australia... have any thoughts?
Thanks.

May 30, 2007 | Unregistered CommenterGeoff

I own the follwing uranium stocks. What are your thoughts on them:

100 sh. Cameco Corp. (CCJ)
200 sh. Denison Mines (DNN)
100 sh. Energy Metals (EMU)
450 sh. SXR Uranium One (SXR)
400 sh. (KAU.CA)
100 sh. (PDN.CA)
200 sh. (PWE.CA)
200 sh. (URE.CA)
100 sh. (URME)
100 sh. (URRE)
200 sh. (AUUM)

I have bought and sold Uranerz Energy Corp. (URZ)twice for a profit. I had 600 sh. International Uranium (IUC.CA)before it was bought by Denison mines. I had 1000 sh. UrAsia Energy Ltd. (UUU.CA)before it was bought by SXR for 0.45 to 1 share exchange. What about USEC? Is it a good buy? Have you any information on SILFX? They have a process funded by GE to use lasers to refind yellowcake.

EMU is to be bought out by SXR Uranium One. Should I sell my EMU shares now or get more of SXR when the shares are converted 1.15 sh per 1 EMU sh.

June 4, 2007 | Unregistered CommenterGreg Olson

We are not allowed to give advice on an individual basis and we would need to increase the staff in order to deal with every request we get. However, if the volume of mail is heavily weighted towards a particular stock then we will try and cover it. Individual portfolio management entails a lot of work. For instance we do not know your financial circumstances or your aversion to risk etc, so we would be doing you a disservice to blindly offer advice.

June 5, 2007 | Unregistered CommenterUranium Stocks

How about Energy Fuels (EFR.TO)? Wellington West just put out a report saying EFR is one of only four short-term US producers. I can't believe you don't mention EFR anywhere. I think it should be a mandatory part of any Uranium basket. Comments?

June 5, 2007 | Unregistered CommenterThor1776

Thor,

In April EFR was trading at around $5.25 it is now trading at around $3.26 that is a considerable drop in two months - do you know why this has happened?

June 5, 2007 | Unregistered CommenterUranium Stocks

EFR - haven't a clue! Any chance of enlightenment?

June 5, 2007 | Unregistered CommenterRupert

Rupert,

They trade on the TSX - this is a link to their web site:

http://www.energyfuels.com/

Hope it helps.

June 5, 2007 | Unregistered CommenterUranium Stocks

I believe the PPS dropped due to Private Placement shares (1.75 with 2.25 warrants) that became free trading. They ran the stock up from $4.00 to $5.48 then dumped the PP shares. Some funds (in particular Resolute Fund) had made substantial profits and took them.

Nothing fundamental has changed within the company, and it's prospects are still very good. They have a strong experienced managment team, most of them from the old Energy Fuels of the 80's and 90's. Their strategy is too bring old mines back into production quickly, while acquring and drilling up new properties. They will either sign a milling agreement with Deninson this year, or build their own mill (2009 or 2010). EFR is not a pounds in the ground story...it's about getting mines that they know have uramium in good quanties up and running quickly.

If you can, get a hold of the Wellington West report. It's a good read. As I said, EFR is one of a handful of companies in the US that are considered near-term producers.

June 6, 2007 | Unregistered CommenterThor1776

I should also add, with Uramium prices expected to peak around 2009,2010, it's only the current and near-term producers that have any hope of catching the peak prices. EFR will have cash costs of only $30 lb.

Also, money will flow into these near-term producers away from the exploration plays over the next year.

EFR is a play on near-term production, as well as on possible buy-out. There are very few US near-term producers and continued consolidation is very likely.

June 6, 2007 | Unregistered CommenterThor1776

It reads like an oversold situation so it could be one to watch for a bounce back. As a takeover target we would expect the stock to be holding up better than it is.

June 6, 2007 | Unregistered CommenterUranium Stocks

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