Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
« Hyperion offers Clean Fix for Canada’s Tar Sands | Main | Cameco Corporation: No Production in 2011 for Cigar Lake! »
Thursday
Feb192009

Japanese Consortium’s stake in Uranium One

The Tokyo Electric Power Company logo
The Tokyo Electric Power Company logo

A Japanese industrial and financial consortium formed by The Tokyo Electric Power Company, Incorporated, Toshiba Corporation, and The Japan Bank for International Cooperation are providing for the private placement of an aggregate of 117,000,000 common shares of Uranium One, for gross proceeds of approximately C$270 million for a 20% stake in Uranium One.

BNN interviewed Jean Nortier, president and CEO, Uranium One, to find out what this means for the miner, which has been beaten down badly in the past year. Click here to watch the clip.



Part of this deal has 20% of future production allocated to the new partner however the price for that supply was not stated which we found difficult to grasp.

Longer term Jean Nortier is bullish on Uranium prices however he did not expect to see much improvement in the near term price.

To read the recent press release in full please click here.


Uranium One Incorporated trades on the Toronto Stock Exchange under the symbol of UUU, has a market capitalization of $920.25 million with 469.52 million shares outstanding and closed in Toronto at a $1.96.

Got any comments? Fire them in!

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.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (2)

What is the advantage of having uranium operations in Kazakhstan? The export taxes seem high, and the nation is not a democracy. On the other hand, if India, China and Japan are going to be building nuclear power plants, does Kazakhstan's proximity to those markets reduce costs?

February 20, 2009 | Unregistered CommenterJames

Despite the recent series of disasters at Dominion, UUU has done well building a share of production in Kazakhstan and other prodn in pipeline from Oz and USA.
Yet at a market cap of CN$1.16Bill = 612 mill shares x CN$1.89
They look fully priced to me looking ahead to their 2010 5.6 mill lb prodn (Macquarie Presentation). Do your own realistic gross earnings numbers on that taking out the Mitsui share. It gives us a benchmark to assess companies like Bannerman BMN on ASX, BAN on TO and ACap ACB on ASX, which both are building 100 mill lb U3O8 resources in mining friendly countries yet have market caps of CN$87.2 Mill and CN$11.2 Mill respectively.
You can download easy to read pdf reports on any ASX company by following links to their ASX code at this very useful alphabetical ASX website, the Quarterly Activity reports are a good start, usually there is also a link to the company website.
http://www.asx.com.au/asx/research/CompanyListed.jsp?coName=A

February 20, 2009 | Unregistered CommenterWarwick Hughes

PostPost a New Comment

Enter your information below to add a new comment.
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>