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Cameco Corp


When it comes to uranium producers this one cannot be ignored as it is easily the most dominant player in the uranium arena.

By comparison to other market sectors the uranium market is comparatively small making it difficult for fund managers to find suitable investment vehicles to place their money. Fund managers are looking for a piece of the action and not for majority ownership which rules out most of the companies in this sector. So Cameco provides them with a certain amount of liquidity enabling them to freely move some of their funds in and out of the market as they see fit. This action will force the price of this stock to be a little more volatile but will inevitably drive the stock price up.

Cameco Corp is the world’s largest, uranium miner accounting for about a quarter of the world’s uranium production. Cameco controls more than half of all identified new uranium production that may come to the market over the next 10 years.
It has four mines operating in Canada and the US. It should be noted in Saskatchewan, Canada, the ore grades are approximately 100 times higher in quality than the world average. There are two new mines being developed in Canada and Kazakhstan, Central Asia.
This energy company has a total of proven and probable reserves amounting to approximately 550 million pounds of uranium.
For gold bugs there is the added kicker of a controlling interest, just over 50% in Centerra Gold Inc.
We are buyers at these levels even though there could be greater value in smaller uranium miners this one is set to do very well indeed.
Cameco has a market Capitalisation of $13.5 billon, a P/E ratio of 53 and is currently trading at around $40.00. It is traded on the NYSE under the symbol of CCJ and on the TSX under CCO.

For more information about Uranium see the Uranium Information Centre and the Canadian Nuclear association.


Uranium: A question of Time


This week the British government announced its interest in the need for more nuclear power plants, so where will they get their Uranium?

I recently had the honour of attending the BBC’s television show called Question Time, held in Canterbury, England. The panel was made up of politicians including Ken Clark, Simon Hughes, Harriett Harman, another lady who is a member of the House of Lords whose name escapes me and the author Frederick Forsyth. Of the many topics that the programme tried to cover, the nuclear energy topic was the least understood, in my opinion. Simon Hughes a Liberal Democrat wanted to have a long, free and frank discussion about nuclear energy and Ken Clark a Conservative wanted to avoid another oil crises similar to that of the seventies. Time apparently is not a problem. No one mentioned that:

1. We are using uranium at twice the speed we are producing it. The short fall is currently being filled by the dismantling of old nuclear warheads that will dry up shortly.

2. The demand for energy from China, India and Asia is rocketing along with their fast paced modernisation programmes for 3 billion people

3. Oil is in short supply

4. Coal is dirty, although there are various coal to oil gasification possibilities.

5. Wind farms: how many, where and when?

6. The price of Uranium has risen from $6 a pound to $45 a pound as we write. Why? Could it be that old economic factor DEMAND!

In Queensland Australia where I once lived and worked it is against the law to mine the old yellow cake at the moment. This has not stopped the Chinese doing massive deals to lock in the potential supply if and when the law should change and it will. Has anyone noticed that China has stopped the exportation of a number of metals for example tungsten? If you were in charge of China would you state the true number of nuclear plants that you are going to build and risk causing a stampede to buy uranium? No, you would first secure your supply of uranium far out in to the future and then you would quietly tell the world. This isn’t difficult is it? They should be applauded for their vision in these matters.

So, where does all this leave us? Well dear readers we are on the verge of some major consolidation in this market. Each nation, as it awakens to this new crises will flex its own financial and political muscle, as we have never seen before. We believe that we are looking at a uranium price of $100.0 plus in the very near future. This will drive prices of uranium stocks through the roof and into uncharted territory. If you thought that dot COM was a boom get into position and hang on for fortunes will be made, possibly exceeding those of gold and silver.

On this site we will share with you our thoughts, analysis, anxieties, our purchases and sales. We will also plot our progress so that you are fully aware of which uranium stocks we investing in and why. Do your own due diligence before you put your hard earned cash on the table. And finally, please feel free to put your comments on our website as this will add balance to the coming uranium debate.
14 July 2006.
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