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« Uranium-Stocks: Portfolio Update 25 January 2009 | Main | Laramide Resources Limited: Showing signs of life! »

Uranium One: Re-Visited!

UUU Chart 20 Jan 09

On October 15th, 2008 Uranium One was suffering due to strike action, which had a dramatic effect on the stock price, and we wrote the following:

This is a kick in teeth for the investors who must be wondering just what else can go wrong, as this stock has fallen heavily to close yesterday at $0.89. We do feel for the investors as we are in a similar position with some of our stocks.

As investors these situations raise the question of ‘Is this the buying opportunity of a lifetime or will it get worse’.

Well from the above chart we can see that things have improved since then and yesterday Uranium One traded 14.6 million shares to close at $2.15. We can also see that this stock has made steady progress over recent months avoiding some of the volatility that has seen other uranium stocks oscillating widely. However it is still light years away from the highs achieved in April 2007 when the stock reached $35.00, but it is heading in the right direction and if you don’t own it you might want to add it to your watch list. For disclosure purposes we do not own it but would anticipate it doing very well once uranium starts to head north.

The current spot price for uranium Stands at $51.00/lb and the long-term price is holding at $70/lb according to TradeTech which is the price to watch as this is where the lions share of the trading is conducted.

Uranium One Incorporated trades on the Toronto Stock Exchange under the symbol of UUU, has a market capitalisation of $1.01 billion with 469.52 million shares outstanding.

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