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« Brazil Budgeting $540 Million for Nuclear Programme | Main | Crosshair: Non-Symmetrical Triangle Formation »
Wednesday
Jul112007

Uranerz Energy Corp: Needs A Support

All uranium stocks have suffered a sell off and in recent weeks we have documented the end of the sell off in some uranium stocks as we have watched them begin to consolidate in preparation for the next rally.

Uranerz Energy Corp: Needs A Support

Uranerz has not yet found a support, and until it does we would rather wait for a while, than buying now when it is uncertain just how far this stock will fall.

Although on the surface we see no problems with the fundamentals of Uranerz at the moment, we must wait for the stock to find a support level before buying, otherwise we risk falling further with the stock.

Other uranium stocks have begun to consolidate and find support levels. Recently we wrote about Mega Uranium needing to find a support level and then we wrote another article as soon as it looked like Mega had found this support. Laramide also has begun consolidating.


We will wait paitiently to see just how cheap this uranium stock is about to get before considering a purchase. As always, our readership will be kept fully informed.

Uranerz Energy Corp trades as URZ on the AMEX.

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Reader Comments (4)

Dear Sirs,

First of all, congratulations for your site and for the worthwhile comments about the shares that you mention.
I completely agree with your analysis of Uranerz. Nevertheless, in my opinion, I think that the stock is still far away from its bottom, the MACD is clearly showing a very severe fall and looks like gaining more power. Furthermore, MA 50 is curving down very strongly so I would
not be surprised if the price would reach 2,5 or 3$ before finding a support.

Michel Leclercq

July 12, 2007 | Unregistered Commenterleclercq

Thank you for your comments.
We will continue to watch and wait for a buying opportunity on this one and we shall keep out readers informed of any developments in the situation.

July 13, 2007 | Unregistered CommenterUranium Stocks

URZ bounced off 200 moving day average....looks like support finally and here is some news regarding drilling Mongolia.

Factor in Cigar Lake fiasco and this new news (URZ JV partner starts drilling in Mongolia) and I think we found our bottom.

http://biz.yahoo.com/ccn/070712/200707120402068001.html?.v=1

July 13, 2007 | Unregistered CommenterMike

Uranerz Acquires Texas Uranium Project

Casper, Wyoming, July 16, 2007 -- Uranerz Energy Corporation(AMEX:URZ) is pleased to announce the completion of an initial leasing program of approximately 8000 acres in the State of Texas. Based on geologic reports and more than 90 drill holes, these 8000 acres are believed to cover a northeast-southwest uranium mineralization trend.
Plans are being made to begin drilling this property next winter after the Wyoming drilling season is completed. Initial drilling programs will be designed to confirm the presence of the uranium mineralization and to obtain core samples for extraction testing procedures to determine the potential for in-situ recovery mining possibilities.

Uranerz Energy has made the decision to widen its operations into the State of Texas given the possibility of in-situ recovery mining as evidenced by the existence of at least two successful uranium mines currently operating there now and the permitting activities of additional production facilities at this time.

"We have reason to believe that this property may show significant uranium mineralization," stated Kurtis Brown, Senior Vice President of Exploration, "With the State of Texas proving to be very uranium friendly, both past and present, in time we may be able to initiate an in-situ recovery operation."

This land acquisition program is part of Uranerz Energy's ongoing plans to acquire property with high potential for recoverable uranium in the not too distant time frame. Land activities continue both in Wyoming, especially the Powder River Basin area, as well as Texas and other areas of interest.

Uranerz Energy Corporation has expertise in in-situ recovery uranium mining and holds a number of properties in Wyoming with uranium-mineralized sandstone. Several of the Powder River Basin uranium properties are advanced, and the Company has initiated environmental licensing and mine planning for the development of two of these properties, the Hank and Nichols Ranch projects.

To obtain more information, contact investor relations at Uranerz, telephone 1-800-689-1659, or visit our web site at www.uranerz.com

ON BEHALF OF THE BOARD

"Glenn Catchpole"

Glenn Catchpole
President and CEO

July 16, 2007 | Unregistered CommenterMike

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