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« The Australian’s view of China. | Main | Aurora Energy Resources Incorporated Takes A Bath! »
Thursday
Mar132008

Uranium Update 13 March 2008

U308 Chart 13 March 2008


Chart courtesy of www.u3o8.biz

As we can see from the chart the spot price has moved up a whole dollar to $74/lb which appears to be lacklustre when compared to the gold and silver markets which are currently basking in the limelight.

A quick look at the authoritative web sites and we find the following quote from TradeTech.com:

“The spot uranium market exhibited signs of strengthening last week. One transaction involving 100 thousand pounds U3O8 is reported and new demand emerged. Several sellers raised their offer prices over the course of the week. Nevertheless, a gap still exists between most willing sellers and willing buyers. Buyers, however, showed a willingness to pay somewhat higher prices than has been witnessed in recent weeks. As a result, TradeTech’s Spot Price Indicator increased $1.00 to $74.00 per pound U3O8”

So there we have it.



Turning to a lighter note regarding seasonal statistical behaviour we take a look at The Motley Fool who had this to say in an article entitled 'The March Mayhem Effect' where we see Uranium Resources Incorporated (URRE on NASDAQ) hitting their charts:

“What drove the stellar March performance of uranium miner Uranium Resources? The surge is most likely an anomaly, just like January's status as the worst month to own the stock; Uranium Resources falls an average of more than 35% during that month -- so get ready to sell. Not!
It happens that May is the best-performing month for rival Cameco (NYSE: CCJ); it returns about 11% in that month.
You can see why we don't recommend using this as a list of stocks to buy or sell -- just a platform for further research. Whatever the reason, Uranium Resources' three-star rating suggests that CAPS investors have a middle-of-the-road opinion about its future performance.”

To read the article in full just click this link.

And finally, after our post about Aurora Energy Resources taking a bath yesterday, she fought back with a 7.17% gain to close at $6.58, an opportunistic purchase for somebody.

If you have just taken an interest in the uranium sector and would like to receive our free newsletter regarding uranium and in particular investing in uranium stocks please click this link.










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Reader Comments (2)

I have not seen any comments on Energy Fuels (EFR, EFRFF) in your newsletters. The news flow for this company is quite positive. Also it is going to be first company in USA to start mining Uranium from old producing mines later this year. The share is showing signs of revival. Please give your views on this company.

March 14, 2008 | Unregistered CommenterShrikant Malani

Although the spot price has currently stalled, there are many harbingers of higher prices including Alberta's recent noises about fueling future tar sands development with nuclear.

March 15, 2008 | Unregistered CommenterIan Bradley

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