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« Biofuels: United Kingdom having second thoughts! | Main | Queensland Resources Council for lifting a ban on uranium mining »
Wednesday
Jul022008

Coal-fired power station blocked!

Judge Thelma Wyatt Cummings Moore
The construction of a new coal-fired power station has been blocked by the US state of Georgia, as the issue of carbon dioxide emissions becomes a hot topic.

This could well set a precedent for future coal fired power plants as the judge, Fulton County Superior Court Judge Thelma Wyatt Cummings Moore, cited a decision by the Supreme Court ruling recognising CO2 as a pollutant, before putting a halt to this project.

Dynegy will no doubt challenge this ruling as they are the largest coal plant developer in the US and this ruling could jeopardise the construction of future plants.

Bruce Nilles, director of campaign group the Sierra Club, said:

"Coal-fired power plants emit more than 30% of our nation's global warming pollution, thanks to this decision, coal plants across the country will be forced to live up to their clean coal rhetoric."

Scott Segal, director of the Electric Reliability Coordinating Council, a Washington based industry organisation, said:

The judge's assumptions "do not square with the facts or the law the Georgia state court has written an opinion fully in uncharted territory,"

So it looks as though we are in for a legal tussle before we get a resolution to this issue, but the fact that someone has opposed and stopped a coal-fired power plant must bode well for nuclear power.

To read the whole article please click here.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

PS: The spot price of uranium has clicked up $2.00, which is nice to see but it is the long-term price that is important.

Uranium Chart 03 July 2008

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Reader Comments (5)

That is good news, but I must return the attention of The Uranium Newsletter team to a very promising U exploration company re which you and I seem to have suffered a misunderstanding: Did I mispell "Ditem" as "Ditum" (which is how you wrote the word)? I've fairly sure I gave the correct symbol, DIT.V. Ditem IS a uranium company contrary to what your team implied by writing "advantage to buying this stock OVER a uranium company" (my emphasis); here is a passage from its web page:

Ditem Explorations

Ditem Explorations is an uranium exploration and development company listed on the Venture Exchange of the Toronto Stock Exchange (TSX-Vx) under the symbol DIT.

The company has been publicly listed since 1995. The company's main objective is to maximize return to shareholders through exploration and development success.

Ditem is presently exploring three high potential uranium properties. Of the three, one is situated in the Otish Basin in north-central Quebec (Otish Uranium Property, 320 km²) and two (the Beartooth Project and the Cree Lake Property totaling respectively 230 km² and 830 km²) are situated in the Lake Athabasca Basin in Saskatchewan. Other properties and exploration projects in Quebec and the Athabasca Basin are being reviewed for acquisition and earn-in as part of the company's on-going activities.
http://www.ditem.com/

Read more at the Web site in the previous line, and see the chart.
Rather typical for uranium companies over the past three or four
years. Anyway, please let's keep our eyes on DIT. I would have
made a bundle if I had sold before the bottom fell out of U3O8 stocks!
But what counts now is what DIT's future may offer investors and
speculators. Neil (again, sorry if I typed "Ditum" instead of "Ditem",
although I'm not sure I did. Anyway, it's not a question of the
advantages of owning stock in this company "above" uranium
stocks, since Ditem is 100 % a uranium-focused company.

Best regards, Neil

We don't know enough about Ditum Exploration to write anything meaningful for you. A company with a market cap of around $20 million with 45 million shares outstanding could easily fly when uranium makes a move and the company puts out some good news

July 3, 2008 | Unregistered CommenterNeil Bishop

Neil, This is what we said:

Neil,

We don’t know enough about Ditum Exploration to write anything meaningful for you. A company with a market cap of around $20 million with 45 million shares outstanding could easily fly when uranium makes a move and the company puts out some good news

Maybe one of our readers will provide us with some insight and explain the benefits of owning this stock above uranium stocks.
cheers, Bob

So I think that we are talking about the same company.

July 4, 2008 | Unregistered CommenterUranium Stocks

I have been watching Uranium Resources (URRE) for awhile and wondering if it is a candidate for call options. Do you follow it? Does it look to you like it is ready for a bounce? Any opinion? good, bad, or indifferent? I see they have given up on the Rio acquisition due to lack of financing. Other than that not much news available.

Thanks, Doug

July 6, 2008 | Unregistered CommenterDoug

Doug,

Yes we do follow UURE in fact we own some of their stock.

If you check our portfolio we will see our latest updates of a general nature and you can also use the search bar at the bottom of the web page to locate articles on UURE or any other stock that we have covered.

We are looking at various possible scenarios for trading options on uranium stocks as we have done with gold stocks and silver stocks and we will post as soon as we think the timing is right. However don’t let us put you off.

Note that URRE dropped 8.27% today.

July 7, 2008 | Unregistered CommenterUranium Stocks

Why the sudden massive increase in Uranium One share price?
Anybody knows any news?

September 5, 2008 | Unregistered CommenterLen Fore

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