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« Another Blast at Japanese Nuclear Power Plant | Main | Possible setback for U.S. nuclear industry »

Uranium Stocks Down in early trading

Extract Resources 14 March 2011.JPG

As we can see the above chart for Extract Resources Limited (EXT) shows an initial sell off as three nuclear power plants are suffering damage in Japan due to the recent earthquake and the following tsunami. Words such as 'meltdown' are being used by some media outlets which casts a dark shadow over this sector of the market.

Paladin Energy Limited (PDN) was also sold off this morning, dropping close to 13% just before lunch in Sydney.

We'll observe the situation closely throughout the day and try and ascertain just what the knock on effect will be. It appears to us that everything depends on whether or not these troubled power plants can be contained and the amount of damage is limited to remedial work only.

If there is an explosion of any type then movement against nuclear power will garner some momentum. However, if these power plants are stabilized, then a lot of the fear now being generated maybe contained.

Its just too early to call so all we can do is pray that the situation does not get any worse and the authorities are successful in their efforts to minimize the dangers.


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SK model portfolio 14 March 2011.JPG

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Reader Comments (7)

What's remarkable to me is that in all the news reports, I've heard no mention of what happened to the backup power supply at these plants. I know they failed, but not why. Many people don't realize it, but nuke plants depend as much on the grid for their power supply as any other business or residence does. And when that power is lost, they switch automatically to diesel generator power to keep the lights om, the computers operating, the essential pumps pumping, etc.

What caused the backup generators to fail so that operators couldn't supply sufficient cooling water to the reactors? Something must have gone really wrong for the backup systems to have failed too. They're pesky and it seemed as if one set of backup diesels were also giving trouble at the plants i worked at, but an earthquake alone shouldn't have done it. I guess it was the tsunami, but those buildings should have been built to withstand a big wave. Does anyone out there know?

March 14, 2011 | Unregistered Commenterfallingman

Sorry for the typos.

That should have been..."one set was always giving trouble at the plants I worked at."

March 14, 2011 | Unregistered Commenterfallingman

I thought that they had been flooded.

March 14, 2011 | Unregistered CommenterUranium Stocks

I've been investing in uranium shares since late 2003 and have witnessed many exhilarating rises and gut wrenching declines. Certainly, today's sell-off was one of the steepest and fastest.

So my question is this?

Are we witnessing a once in a lifetime opportunity to purchase high quality, well run companies holding extremely valuable long term assets at bargain basement prices?

It wouldn't be the first time I have looked back and kicked myself for not having the cajones not to follow the famous advice of Baron Rothschild to "buy when the blood is running in the streets".

Or will this be the "Triple Whammy" that destroys the nuclear power and uranium mining industry for decades to come, far more than even Three Mile Island?

What to do?

Any thoughts?

March 14, 2011 | Unregistered CommenterSteve

Indeed it could be a wonderful buying opportunity, however, we do need to let the negative press have its say and blow off before we buy - thats just our opinion. Another explosion has just been reported so we wont be heading north just yet.

March 14, 2011 | Unregistered CommenterUranium Stocks

Yes, if there is a buying opportunity, it will be a ways out there. It seems that the blood will be running in the streets for quite some time.

I keep thinking of the bleakest moments during the Gulf Oil spill, when nothing seemed to be working. Yet, eventually the spill was capped and drilling resumed. It was a catastrophic event but not a cataclysmic one. The people of the Gulf area are slowly healing their lives. Let us pray that at the end of the day Fukushima will take a similar course. For now we should probably concern ourselves more with the good people of Japan than our portfolios.

Nevertheless, the world didn't stop drilling for oil after the spill and the world won't abandon the use of nuclear energy after Fukushima. There really is no other alternative for the time being. World energy requirements are predicted to more than double by 2030.

March 14, 2011 | Unregistered CommenterSteve

All the water pumps to the plant got smashed so they could not cool the reactors down. This earthquake was so huge they just could not do anything

March 15, 2011 | Unregistered Commenteruranium bug

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