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« Portfolio Update 21 August 2007 | Main | Uranium Stocks: A Gut-wrenching Week! »

Mega Uranium Limited: Cash Position

Today Mega Uranium issued a statement regarding its current position, which reads as follows:

Mega Uranium Ltd. ("Mega") (TSX: "MGA") confirmed today that its cash resources of over $120 million are invested in corporate bonds, banker’s acceptance notes and guaranteed investment certificates (GIC's) and are not exposed to repayment risks associated with the asset-backed commercial paper market.

Considering the current concern over credit and how it affects various companies this is a good move by the Mega’s management team. They have spotted a possible problem and issued this statement before investors become really bothered by it.

As we write Mega is trading 13% up so far today.

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Reader Comments (2)

I would like to know if TITAN URANIUM is a good investment opportunity


December 3, 2007 | Unregistered CommenterDiego Carbajal

Define "good"? If you have an appetite for volatility and risk... then sure, it's a good opportunity.

And right now I would say is as good a time to get in as any, as the whole sector would appear to be in a second wave of consolidation.

I certainly wouldn't bank on just one of the juniors though. Do some research, if you are down for this kind of volatility... very high risk, very high potential reward... then spread your risk across 10 of the more highly regarded juniors that all have about the same nebulous chance of actually finding something that can be turned into something.

And if you only have a small amount to invest... well... save your transaction fees then and roll the dice on one or three companies... just know it's mostly a crap shoot at this point as to which specific company might hit it big.

But I am hoping that hedge fund and end-of-year tax-loss-taxing money starts coming back into the sector soon, and if that happens, then Titan will most likely get it's share of the green as much as any other junior.

So there you go. I am not an investment professional. I lose more money than I really care to think about, and don't take my gains as often as I should. And I own some Titan myself. Grain of salt, Diego... grain of salt...

December 4, 2007 | Unregistered CommenterPisoMojado

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