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« LAM Up 5.29%, MGA Up 5.19%, URE Up 8.81%, URZ Up 8.65%, UUU Up 6.24%, CCJ Up 2.94%, CXX Up 16.13% | Main | Josh Young Finds Value in Oil and Gas E&Ps »
Wednesday
Nov172010

Crosshair Exploration and Mining Corporation Up 24% Today

CXX Chart 18 Nov 2010.JPG

We kick off with a quick look at todays chart for Crosshair Exploration and Mining Corporation (CXX) which is another uranium stock that has doubled since July, gaining 24% today on heavy volume when 2.4 million shares changed hands. The RSI is a touch high at the moment so we might get a breather might be on the cards. The MACD and the STO are also up there too which may entice chartist to take profits.


Having purchased this uranium stock at $0.25 on 6th January 2009 with the view to participating in its recovery we are pleased to see it close at $0.31 today, to show a paper profit of around 24%.



This is what the chart looked like back then:

CXX Chart 5 Jan 2010.JPG


A summary of their activity is as follows and can be found on their web site:



Crosshair is a dominant player in the exploration and development of gold, uranium and vanadium in the US and Canada. Crosshair continues to advance its gold projects in Newfoundland. The company recently completed 7,220 m of drilling and has a bulk sampling program that is set to commence Q3 2010. Stantec Consulting Ltd. has recently been contracted to prepare an Environmental Compliance Plan and design a method of removing the overburden for the trenching that is anticipated to begin September 2010.

The Bootheel Project is located in uranium mining friendly Wyoming and with its in-mining potential and initial NI 43-101 uranium resource estimate of 1.09 M lbs indicated and an additional 3.25 M lbs inferred, the project has exceeded the minimum mining threshold and is designed for near term production.

The CMB Uranium/Vanadium Project is located in Labrador, Canada and Crosshair has demonstrated the multi-deposit potential of the project by successfully developing four currently defined resources -- C Zone, Area 1, Armstrong and Two Time Zone. All four resources are open for expansion.

Vanadium, already irreplaceable in several industries including aerospace, aviation and construction due to its unrivaled ability to strengthen steel, has also become very important in the advancement of battery technology and its use for connecting large-scale power grids. Phase 1 of the Vanadium Resource Expansion Program is complete and Phase 2 is set to commence at the beginning of July 2010.

Crosshair currently trades on the Toronto Stock Exchange as CXX and the NYSE Amex as CXZ.

Crosshair's market capitalisation is $40.76 million with 131.48 million shares outstanding, the 52-week high is $0.32 and the 52-week low is $0.10 and is trading at $0.31 as we write.

Over in the options trading pit the team have just updated the progress chart to include last weeks closed trades as follows:

sk Chart 14 November 2010.JPG


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

So, the question is: Are you going to make the decision to join us today?


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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Reader Comments (13)

Team,

CXX is up another 16.13% so far today, so come on, own up, are you guys buying?

November 18, 2010 | Unregistered CommenterUranium Stocks

CXZ (or CXX.TO) = Crosshair Exploration and Mining Corp. -- SEE BELOW

This one may be of interest to you if you can go back and chart the history for the past 4 to 5 years, it has been substantially higher and might be embarking on that climb again as it recently broke out. Hopefully it might come back and closely re-test the breakout point for a possible buy point.

If the old high is re-attained, this still offers about a 8 to 1 return right now.

November 18, 2010 | Unregistered CommenterD

If uranium's spot price keeps climbing, we could see this stock over a dollar in 6 months, with no further develpments. However, with the Labrador moratorium ending soon, and that news not being priced in to the current price, we could see this stock return to $2 or more.

If they actually start producing, then it will be a very interesting ride...

November 18, 2010 | Unregistered CommenterWayne

Any imbeciles besides myself own this stock? Would you believe I bought it at just over THREE DOLLARS? So sorry if I don't get giddy when I read "8 to 1," or "return to $2 or more" but thanks for the opinions just the same.

But the worst part (besides being down 97%, I guess) is that they plan on a stockholder-destroying wipeout of four-to-one shares by the end of the year.

If anyone else still has shares (unless you were smart enough to bail, unlike myself) VOTE "NO" on this proposal, and that's an order! If I find out anyone voted "YES," I'll give the back of your head such a smack, you won't know.......... I'm done.

November 19, 2010 | Unregistered CommenterJoeBronx

I just reread this article; how could I have missed that "CROSSHAIR IS A DOMINANT PLAYER" line?

With a stock price/market cap DOWN around 90%, thank goodness I didn't invest in a "slacker." Whew!

Thank you, investment guru, *** *****, I couldn't have done it without you!

December 14, 2010 | Unregistered CommenterJoeBronx

It's a junior resource company. Owning any junior resource stock is gambling. Any one of them can go bankrupt in the flash of an eye.

I voted no on the split, as I feel it will go over a dollar on its own.

I originally bought in at 1.75, then got out at 2 as it started it's long slide down to oblivion.

I bought back in at .12 to .25 and channeled it.

Basically, I've got a home run in my retirement account, thanks to this stock. That has let me make up my losses from Ethanex, a junior ethanol company, which went bankrupt. Expensive lesson...

Don't expect uranium to run over $100, so keep that in mind when speculating(gambling) with uranium companies.

December 14, 2010 | Unregistered CommenterWayne

I just bought Crosshair @ .37 cents a share. Then, a week later it's trading at $1.88. Would someone be kind enough to explain to me...what part of the stock value is based on the 4 for 1 reverse split? And, what part is based on it's recent discovery?

Lastly, is this Uranium stock worth owning? I, currently own: DNN, URG, URZ, UEC, and URRE.

Many thanks. Larry

December 23, 2010 | Unregistered CommenterLarry Schwimmer

Divide by 4 to get your pre split value. At 1.88 you are looking at a .47 pre-split value.

Being over a dollar has brought interest from institutions, which has driven the price up.

Nothing has changed, fundamentally, so investor interest(both in this company and in the uranium sector in general) is about the only thing that is driving the price up at this point.

Yes, I feel this stock is worth owning. Sounds like you have a good portfolio for reducing risk while maximising gains in the uranium sector.

December 27, 2010 | Unregistered CommenterWayne

After a short burp, looks like Cross-eye Exploration is back to it's familiar "freefall" mode. Geronimo!!!!

December 27, 2010 | Unregistered CommenterJoeBronx

Where are you coming up with short "burp" and "free-fall?"

Crosshair has been in a steady uptrend for 6 months and is up 500% in that time frame.

December 28, 2010 | Unregistered CommenterWayne

It's just that the stock ran up to something like $2.35, then collapsed over 20% in three trading days. And with this stock, boy have I seen that before.........

December 28, 2010 | Unregistered CommenterJoeBronx

Yup, this stock has tons of trading opportunities.

December 28, 2010 | Unregistered CommenterWayne

We bought this one at the same time we bought Denison Mines and both of these uranium stocks looked expensive at the time. However Denison has doubled since and for CXX we paid around $0.25, on 6th January 2009, so even with the 4:1 split ($2.49/4 = $0.62) CXX has more than doubled.

Yes its going to be a bumpy ride, but what isn't?

January 1, 2011 | Unregistered CommenterUranium Stocks

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