Mega Uranium Limited: Cash Position
Monday, August 20, 2007 at 12:29PM
Uranium Stocks in Uranium Mining Stocks
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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