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« Rick Rule: Courage of Conviction | Main | Depression Within a Depression »
Monday
Oct252010

Uranerz Energy Corporation: Up 9.37% Today

URZ Chart 26 October 2010.JPG

Uranerz Energy Corporation (URZ) continued to make good progress today putting on $0.18 to close at $2.10 for a gain of 9.37%. When we consider that this stock was trading at around $0.90 in July, although for a short time only, it has doubled in price since then.

Taking a quick look at the chart above we can see that a golden crossover is about to take place, whereby the 50dma moves up and crosses through the 200dma, which should be positive for the stock. The technical indicators are high, however, the RSI is standing at 67.66 which is still below the '70' level, which we would consider to be in the overbought zone. However these indicators can remain high if the fundamentals are positive. For instance the spot price for uranium has been improving for the last three months as the chart below indicates.

Uranium Spot Price Chart 26 October 2010.JPG

On the news front URZ recently announced the completion of an independent National Instrument 43-101 technical report for its wholly-owned Reno Creek property in the Powder River Basin of Wyoming, U.S.A. The Technical Report estimates "measured and indicated" mineral resources of around 4,292,948 pounds of uranium (eU3O8) at an average grade of 0.056% and an "inferred" mineral resource of approximately 142,167 pounds at an average grade of 0.039%.



On the companies web site they list their Highlights as follows:

Strong management and technical team with expertise in the in-situ recovery uranium mining method. Team members have years of experience in all phases of uranium exploration and development.

License and Permit applications were submitted to State and Federal regulatory agencies for ISR uranium mine development in 2007 on two projects; the Company expects to receive these licenses during the second half of 2010, with an anticipated production start in late 2011 or 2012.

Long-term contracts have been signed for the sale of uranium with two of the United States' largest nuclear operators, including Exelon (operates the largest nuclear fleet in U.S. and third largest in the world).

The Company controls a large and strategic land position in the Powder River Basin of Wyoming, U.S.A., an area well known for ISR uranium mining.
Small capitalization with only 64,194,887 shares issued and outstanding, with over US$22 million in the Company's treasury.

The Company continues to advance the Permit to Mine (WDEQ) and Source Material License (NRC) applications for the Nichols Ranch ISR Uranium Project, now believed to be in the final stages.

Uranerz has a Market Capitalization of $134.81M, a 52 week price range of $0.87 - $2.24 with average Volume of around 800.000 shares traded, with 64.19 million shares outstanding.


Uranerz Energy Corporation trades on the NYSE Amex: URZ; TSX: URZ and in Frankfurt: U9E.


Back to our latest venture which was the launch of an Options trading service we are pleased to report that it is going very well so its a big thanks to all those who have signed up for it and the supportive emails that you have sent us.

Our premium options trading service, SK OptionTrader, has opened and closed 12 trades in the last 6 weeks, banking an average profit of 70% on these trades.

This brings our total of closed trades to 38, with 36 winners. This means that a subscriber who had invested $1000 in each of our 38 trades would have banked profits of $15,636.00. We have just posted a set of charts demonstrating the importance of timing in any trade on gold-prices, please click here if you are interested.



The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.


Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.



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SK Chart 23 Oct 2010.JPG

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Reader Comments (2)

$7.10 appears to be the high for this stock in April 2007. So is this your target ? I mention this year ,as I did with Laramide , because this was the boom year for uranium stocks. The question now is if that is you general target for uranium stocks and if they were to reach such heights again would this be considered a double top or could they bust through even higher.?

October 26, 2010 | Unregistered Commenteruranium bug

Uranium Bug,

We are not putting any targets on uranium stocks just yet, we are waiting to see just how much of a recovery this is in the price of uranium. But we do hope that we will get a steady albeit slow recovery. You mention a double top, yes indeed this is possible but we are a long off that situation just now.

October 26, 2010 | Unregistered CommenterUranium Stocks

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