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« Victor Goncalves: Fundamental Shifts on the Horizon for Energy | Main | Denison Forecasts Uranium Sales of 1.8 Million Pounds U3O8 »

Uranerz Energy Corporation Up almost 50% in a Week

URZ Chart 04 Feb 2010.JPG

A recent news release from Uranerz (URZ) has helped to stimulate interest in this uranium stock as the the price has rose dramatically over the last few days.

January 28, 2010 -- Uranerz Energy Corporation is pleased to announce that it has received an independent National Instrument 43-101 ("NI 43-101") technical report (the "Technical Report") for the Doughstick Project, Powder River Basin, Wyoming. The Technical Report estimates a "measured and indicated" mineral resource of approximately 967,883 pounds of uranium (eU3O8) at an average grade of 0.082% and an "inferred" mineral resource of approximately 87,981 pounds at an average grade of 0.055%. This mineral resource estimate was completed using accepted methods mandated by NI 43-101 and Canadian Institute of Mining, Metallurgy and Petroleum standards using a GT* cut-off of 0.20.

The properties comprising the Doughstick Project include the Company's wholly-owned Doughstick properties and the Doughstick and North Jane properties held by the Arkose Mining Venture ("Arkose"). Arkose is a joint venture operated by the Company and owned by the Company (81%) and United Nuclear, LLC (19%). Of the estimated measured and indicated resources for the Doughstick Project, 882,736 pounds at an average grade of 0.081% and an inferred mineral resource of approximately 86,909 pounds at an average grade of 0.055% are wholly-owned by Uranerz and the remainder by United Nuclear, LLC.

Details of the resources estimate are set out in the news release, please click here.

As the above chart shows recent news has helped URZ to make good gains, also note the increased volume. The indicators have spiked on these gains, however, there could be further to go.

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

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