Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Uranium Stocks
Uranium Price
Our RSS Feed

Uranium Updates

Enter your email address:

Follow Us on Twitter
Monday
Nov172008

Uranium Spot Price Up to $53/lb!

Uranium Chart 18nov08



As we can see from the chart above the spot price for uranium has crept up a little recently from $45/lb to $53/lb over the last few weeks, according to TradeTech who commented as follows:

“Significant demand continues to emerge with off-market buyers acquiring over one million pounds U3O8 equivalent in five transactions over the past week, with each transaction concluded at successively higher prices. The buyers were utilities, intermediaries, and producers. Buyers are willing to pay higher prices to secure material and sellers, sensing that the momentum has shifted back in their favour, are raising offer prices with each new inquiry from buyers. As a result, TradeTech’s Spot Price Indicator rose this week to $53.00 per pound U3O8, up $5.00 from last week’s indicator.”




Even though the long-term price, $70/lb, is the price to watch it is encouraging to see the spot price make some progress in the right direction. The mining stocks in this sector remain bombed out with just the occasional flicker of life here and there such as the takeover of Forsys Metals Corporation. However we will continue to look for confirmation that this is close to the bottom, if not the bottom of this cycle. Over at NYMEX the futures prices are as follows, December 2008, $53/lb, December 2009, $60/lb, March 2010, $65/lb, so not a great deal of change there, but never the less a positive one. The Obama factor has yet to show itself as the president-elect prepares to take office. Whether or not his policies will be pro-nuclear will be determined by his actions, which we need to see.

Have a good one.

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links.


Tuesday
Nov112008

Cameco Corporation nearing a bottom?

Cameco Chart 12nov08






We’ll start with a quote from Jerry Grandey, Cameco's president and CEO:

"Cameco is blessed with high quality customers whose requirements for uranium are independent of the state of the global economy. Since nuclear is among the lowest cost generators of electricity our customers will continue to operate their plants to meet base load electricity requirements,"


However these fine words did little for Cameco’s stock price, which fell 5.22% today to close at $18.71. The third quarter net earnings were 46% lower than in the third quarter of 2007. Interesting to note that revenue was 18% higher than in the second quarter of 2008 at $729 million in this quarter of 2008. This was largely due to increased volumes in the uranium albeit at lower prices, fuel services, electricity and gold businesses. To read the report in full please click this link.

The question we wrestle with is; is it at or at least close to the bottom yet?

The above chart shows that Cameco has traded as high as $59.90 to a low of $14.33, followed by a short rally to $22.50 and now back to $18.61. The technical indicators have been at both ends of their respective ranges in what has been a roller coaster ride for investors.

The long-term price for uranium is holding at $70/lb and the spot price is $46/lb, which is up ever so slightly. Should uranium prices start to rise we could witness a rush back into this sector, however we think it is too early to discern an upward trend. Cameco should benefit, however, the shadow of Cigar Lake with its water ingress problems still hangs over the company which puts a bit of a damper on the stocks progress. Not for us just yet.

Cameco Corporation has a market capitalisation of $6.45 billion, a P/E ratio of 15.52 with 344.47 million shares outstanding.

Cameco Corporation trades on the Toronto Stock Exchange under the symbol of CCO and the New York Stock Exchange under the symbol of CCJ.

Have a good one.

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stocks, silver stocks and uranium stocks, just click on the links.




Wednesday
Oct292008

Uranium Stocks: A nice jump across the board!

Uranium Chart 28oct08

Uranium One impressed with a gain of 34.38% closing at $0.86 with Crosshair adding 25% and Strathmore Minerals adding an astonishing 63.16%. With one or two exceptions this tiny sector moved higher on the back of the Ben Bernanke rate cut taking rates for the US Dollar down to 1%!

We are not getting too excited at the moment as this sector has been decimated and it will take a lot more days like these to get back to where we once were. However once we do get through this turmoil and the nuclear story gets some air time we could see these stocks move in leaps and bounds to higher ground. We will continue to wait and watch and see just how things unfold for now.

As we can see from the chart above uranium remains steady at $46.50/lb.

Got any comments? Fire them in!

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.



Monday
Oct272008

Uranium Stocks: Still in the Dog Box!

Uranium Chart 28oct08

Chart courtesy of www.U308.biz

A cursory glance at the charts of many uranium stocks shows us that we are still in the dog box as the pounding continues. As the above chart depicts the spot price for uranium has been trending down for some time and now stands at $46.50/lb. The long-term uranium price remains unchanged at $75/lb, according to Ux Consulting and over on the NYMEX the futures price varies from $44/lb for October 2008 delivery and up to $59/lb for February 2010 delivery.

The economic slowdown and the dash for cash have taken their toll on the energy sector with the price of oil also trading down from its highs to around 62.20/barrel as we write.

We have looked for the bottom of this cycle and failed to find it. Until the current de-leveraging exercise runs its course we could be in for more of the same as the unwinding of positions originally purchased on margin are dumped in favour of cash. The only bright spot we can see is that the Nuclear Power Corporation of India have stated that they intend to increase their nuclear capacity by five fold in five years, following a deal between India and the United States. Fingers crossed that a few more morsels of positive news filter through in the months ahead.

Try and have a good one.

Got any comments? Fire them in!

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.



Wednesday
Oct152008

Uranium One Incorporated: A Damaging Strike

UUU Chart 16oct08


As if things were not tough enough Uranium One now have to wrestle with unions as workers have gone on strike at their Dominion Mine in South Africa. The mine was shut down about a week ago as management/worker relationships worsened.

Raymond James analyst Bart Jaworski had this to say:

"We expect the strike may be protracted, adding that the labor upheaval could allow the company to declare 'force majeure' on the unproduced portion of contracted deliveries this year.

This is a kick in teeth for the investors who must be wondering just what else can go wrong, as this stock has fallen heavily to close yesterday at $0.89. We do feel for the investors as we are in a similar position with some of our stocks.

As investors these situations raise the question of ‘Is this the buying opportunity of a lifetime or will it get worse’. Well, uranium is still drifting lower and the dash for cash appears to be intact despite the trillion dollar financial injection into the markets so the ‘bottom’ has yet to make an appearance. We’ll wait and watch and look for signs that this tiny market sector has turned north before we deploy any more cash. However, when the price of uranium stabilises and begins its next rally these uranium stocks will rocket and it’s a rocket that will bring considerable relief to most of us.

Uranium One Incorporated trades on the Toronto Stock Exchange under the symbol of UUU, has a market capitalisation of $416.93 million with 468 million shares outstanding.

The above chart is a sorry sight as we can see.

Try and have a good one.

Got any comments? Fire them in!

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.



Tuesday
Oct072008

Uranium stocks: The beating continues!

Uranium Chart 08oct08

Another murderous day for the markets with the DOW losing 508 points and the uranium sector taking another pounding. Anything with a ‘U’ in the title was dumped faster than hot cakes. The equities market in general needs to find a bottom before we can expect to see the uranium sector form a base. So long as the flight to cash continues then there isn’t a ‘safe’ stock out there, in our humble opinion.

To see Cameco close at $18.44, Denison at $1.87, Uranium One at $1.21, Laramide at $0.90 is something that we thought we would never witness. When this bull market starts again, those who have any cash left will make a fortune. We can only hope that it is not too long in coming as we decided to sit through this upheaval and remain in position.

As above chart shows the spot price stands at $53/lb and according to Ux Consulting the long-term price fell US$5 to US$75 a pound U3O8. We had hoped that the long-term price would remain stable but it has now softened.

Once this bout of selling recedes it will be interesting see just how the investment community reacts to a move to the upside in the spot price of uranium.

Got any comments? Fire them in!

Trading decisions belong entirely to you as your circumstances are different from ours and we trade to suit our investment criteria and cash position.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.



Sunday
Oct052008

Khan Resources Incorporated Update as of 06 October 2008

Khan Logo


According to Google Finance the market capitalisation of Khan Resources Incorporated stands at $20.03 million with the balance sheet of the 30 June 2008 showing cash and short-term investments standing at $28.81 million. True we could do with an updated balance sheet but this is still an odd situation in that this company is valued less than the cash that it currently holds.

There are a few companies in similar positions in the junior mining sector that are trading for less then their cash holdings which reflects the investment communities view of their prospects. We can only conclude that the market perceives their future as exceptionally dull or they have become so oversold as to present us with opportunities at bargain prices.

Khan Resources could be one of those opportunities, however with uranium being out of favour and the political situation in Mongolia proving difficult to resolve the company has been hit with a double whammy. But just maybe there is some light at the end of this tunnel as Martin Quick, President and CEO of Khan Resources, said in a recent news release:

"These recent developments in Mongolia are encouraging and we look forward to progressing in our discussions with the Mongolian government. Khan Resources has a strong financial position and a world-class uranium deposit. Therefore, regardless of market conditions, we feel that the Company is significantly undervalued"

He was referring to the opening speech that the President Nambaryn Enkhbayar gave to the Mongolian Parliament when he said

"It is the reality that Mongolians cannot invest in deposit independently, introduce advanced technology and provide qualified experts. Therefore, there is no other way than attracting major investors, their financial resources, technology and experts. Investors would want to calculate their investment returns and control expenditures of their investment. They would aspire to recover their investment and make profit. This is natural." President Enkhbayar continued, "Therefore, there is no other way than for all parties concerned to accept market principles of allowing the investors to own more than 51% of the deposit"

Well it appears to us that the President has recognised the importance of outside investment and technical expertise so it now remains to be seen just how this situation will unfold. In the mean time Khan Resources has launched a US$5 million project to build a power line and a sedimentation pond for the Dornod Uranium Project as announced on September 18, 2008.

As we own this uranium stock it would be nice to see a mutually beneficial agreement forged so that the project could proceed with some momentum.

Khan Resources Incorporated trades on the Toronto Stock Exchange under the symbol of KRI and the stock closed at $0.37 last week.

Got any comments? Fire them in!

Trading decisions belong entirely to you as your circumstances are different from ours and we trade to suit our investment criteria and cash position.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.
Thursday
Oct022008

Paladin Energy Limited: 02 October 2008

Paladin logo 17 April 2008

Paladin Chart 02oct08


We have had a number of requests to take a look at Paladin Energy Limited, a stock that is a favourite with many investors in the uranium sector. We do not own this stock although we are well aware of it, but for one reason or another we chose to place our cash elsewhere.

Taking a look at the above chart we can see that it formed a vague double top around July 2008, which is a similar chart pattern to other uranium stocks. We can also see that PDN has lost half of its value in last three months. The RSI, MACD and STO and struggling along at the bottom of their respective ranges which suggest to us that it is oversold. However we thought that this was the case with other uranium stocks such as Crosshair but it now trades for a miserly twenty-five cents! As we write it difficult for us to determine if Paladin has actually reached the bottom yet as today it has dropped a further 13.65% as the carnage continues. Maybe when the ‘bailout’ is finally determined there will be less uncertainty as to what it contains and the markets will settle a little, but we are not holding our breath.

Geographical areas of operation include Australia, Northern territories, Queensland and Western Australia, Namibia and Malawi. The Langer Heinrich mine in Namibia is Paladins only operating mine as far as we aware, with a targeted annual production of 2.6 million pounds U3O8 and a minimum project life on current reserves of 17 years. The latest news release by the company reported the following for the mine:

Ore Reserve increased from 37.6Mlb to 65.8Mlb
Allows more than 10 years mine life at expanded Stage III production rates. Remaining Inferred Mineral Resources of 91.6Mlb offers strong potential of further increase with additional drilling and additional reserve potential from Heap Leach study.

The political hurdles in Australia we believe will be resolved in the not too distant future with the objections to the mining of uranium being overcome. Some of our Australian readers will no doubt disagree with us on this point but we will stick with our view.

The management team has lots of experience as we can glean from the thumbnail bios of the Chairman, Rick Crabb and the Managing Director, John Borshoff, as stated below:

Rick Crabb: B Juris (Hons), LLB, MBA, FAICD
Chairman, Non-Executive Director
Rick Crabb holds degrees of Bachelor of Jurisprudence (Honours), Bachelor of Laws and Master of Business Administration from the University of Western Australia. He has practiced as a solicitor from 1980 to 2004 specialising in mining, corporate and commercial law. He has advised on all legal aspects including financing, marketing, government agreements and construction contracts for many resource development projects in Australia and Africa. Mr Crabb now focuses on his public company directorships and investments. He has been involved as a director and strategic shareholder in a number of successful public companies. He is presently also a director of Alcaston Mining NL (since 2001), Ashburton Minerals Ltd (since 1999), Otto Energy Ltd (since 2004), Port Bouvard Ltd (since 1996), Royal Resources Limited (since 2004) and Thundelarra Exploration Ltd (since 2003).
Rick Crabb was appointed a director on 8 February 1994 and Chairman on 27 March 2003.



John Borshoff: B.Sc., F.AusIMM, FAICD
Managing Director
John Borshoff is a geologist who has been involved in the Australian and African exploration and mining industry for 34 years. Mr Borshoff worked for International Nickel and Canadian Superior Mining before joining a German mining group, Uranerz from 1976 to 1991. He became Chief Geologist/Exploration Manager during the period 1981-1986 and served as its chief executive from 1987 to mid 1991 when the German parent of Uranerz made the decision to close its Australian operations. The primary focus of the Uranerz Group was the search and development of uranium with the company operating extensively throughout Australia, North America and Africa. John Borshoff founded Paladin Energy Ltd and was appointed a Director on 24 September 1993. He has extensive knowledge of the uranium industry and experience in company management, strategic planning and administration.


Both gentlemen are heavy weights bringing them with lots of experience and sound professional qualifications.

Paladin has some exciting projects coming up and it is hard not to recommend them as a ‘buy’ at the moment. Its not the company that stops us investing it’s the current environment that we operate in, where commodities are out of favour and uranium appears to be especially out of favour. We were wrong when we moved recently and acquired call options on Denison mines, so a watching brief is the order of the day here.

Having stated our position please don’t be put off by us, the time to buy is when there is blood in the streets, and there is plenty of red on our screens!

Paladin Energy Limited is listed on the Australian Stock Exchange, the Toronto Stock Exchange and the Namibian Stock Exchange under the symbol “PDN”.

Trading decisions belong entirely to you as your circumstances are different from ours and we trade to suit our investment criteria and cash position.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

To stay updated on our market commentary regarding gold, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter. Just click here.



Tuesday
Sep302008

The Hyperion mini nuke wins an award

Hyperion power plant


Thought you might be interested in this update that we received this morning regarding Hyperions award winning technology. We have reprinted the article in full with a link to Hyperions web site.


LOS ALAMOS, N.M., September 30, 2008 - Hyperion Power Generation (HPG), developer of the Hyperion small, transportable, nuclear power module (http://www.HyperionPowerGeneration.com) has been honored with the Notable Technology Development award for technology transfer projects presented by the U.S. Federal Laboratory Consortium (FLC). The annual awards recognize exemplary work by federal laboratories, private businesses, and state and local government. The award, which went to HPG's CEO John R. Grizz Deal and Hyperion's inventor, Dr. Otis "Pete" Peterson, was presented at the FLC's Mid-Continent / Far West Regional awards dinner on September 11 in Denver, CO.

"This recognition is indeed important to us," said Deal. "We strongly believe in the strength of the U.S. laboratory system - in the ability of the many talented people quietly working away to provide solutions to some of our planet's key problems. As a technology transfer project, we have the opportunity to showcase the lab system's rich history of scientific contribution and assist in garnering the attention it needs in order to continue the essential work it has provided thus far, and can provide in the future. Ours is but one example of the many success stories wherein great U.S. lab-invented technology is released to the open market and commercialized to benefit the U.S. economy, and indeed mankind."

Hyperion Power Generation, which is a sponsor of the U.S. Department of Commerce's Nuclear Energy Summit on October 8 in Washington, D.C., has licensed the Hyperion Power Module intellectual property portfolio for commercialization through the technology transfer program at Los Alamos National Laboratory where it was invented by Dr. Peterson.

Proliferation-resistant, the HPM meets all of the Global Nuclear Energy Partnership's stringent criteria for the safe and secure deployment of small "grid-appropriate" nuclear reactors for distributed power. Each unit produces 70 megawatts of thermal energy, or 27 megawatts of electricity when connected to a steam turbine. That amount is enough to provide electricity for 20,000 average-size American-style homes or the industrial equivalent.

Inherently safe, the HPM utilizes the energy of low-enriched uranium fuel and will be licensed by the U.S. Nuclear Regulatory Commission. The company has already received commitments for ten HPMs, priced at around $25 million each, for various locations. Three factories spread across the globe are planned by the company to produce and ship the approximately 4,000 units of the first design.


Could just be the future!

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

Trading decisions belong entirely to you as your circumstances are different from ours and we trade to suit our investment criteria and cash position.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address.

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

Hyperion plant

Friday
Sep262008

Uranium-Stocks: Portfolio Update 26 September 2008

uranium chart 26sep08
This chart is courtesy of [1] www.U308.biz.

The chart above shows the uranium spot price at $58/lb according to UXC and at $60/lb according to TradeTech with the long-term price of uranium trading at $80/lb.

It’s been a torrid time for holders of uranium stocks with many investors throwing in the towel and moving on and who can blame them when this sector has been well and truly shunned. An example of the current sentiment is reflected in the stock price of Crosshair Exploration and Mining Corporation, which is now trading at $0.265. In a recent alert Peter Grandich commented as follows:

Although Crosshair’s share price has had the tar beaten
out of it, the Company is still one of my favorites. They
have completed everything they set out to do this year.

1) They completed the acquisition of a new deposit in
the Central Mineral Belt with 6.1 million pounds of
uranium and more than 4000 claims.

2) They updated and significantly expanded their 43-
101 resource to 11 million pounds of uranium.

3) They have appointed a new president (from Barrick)
and full-time and very experienced CFO.

4) They are on the ground drilling and continuing to
improve their projects.

Crosshair seems to have the right team and the
right projects to be successful.


We do not own this stock but we have traded it in the past and were looking to re-purchase it again. When it fell to $1.00 we raised the question of whether or not it could possibly fall any further and were puzzled to see it continue on its path south. Crosshair is symptomatic of this market sector, as many of these stocks have suffered the same fait.

Although the long-term price of uranium is holding up well there is little in the way of good news that we can bring you. For now our intention is to stay put as the damage has already been done, however it may take some time before a meaningful recovery gets under way. We have updated our portfolio but only read it if you have very strong stomach.

Cameco Corporation – Watch
Cameco was trading at $37.90 when we last updated the portfolio in June and closed at $26.22 yesterday. This sectors heavy weight is still battling with water problems, which is a real drag on the stock price. (We don’t own this one)

RPT Uranium Corporation – Hold.
We bought RPT on the 19th February 2007 for $0.42 and sold it for $0.62 on the 13th June 2007 for a profit of 47.6% in 4 months. We still like this stock and so bought it back at around 50 cents, however RPT closed yesterday at $0.165.

Uranium Participation Limited – Hold
U was trading at C$9.05 in June but as of yesterday it was trading at $7.74. We bought at $11.97 on 21 November 2006 so we well and truly in the red with this trade.

Strateco Resources Incorporated – Hold
We made a small investment in RSC at $2.30 and it has traded as high as $2.87, however it closed at $1.70 yesterday, another disappointment.

Crosshair Exploration and Mining Corporation Watch
We continue to watch CXX. We had hoped that CXX had found some support at $1.00 but that soon dissipated. The news flow has been good and frequent so this rapid deterioration remains as a puzzle to us. Although we do not own this stock it remains very tempting at $0.265 but we just cant find the courage to make a purchase until we see some signs of improvement.

Laramide Resources Limited – Buy
This stock was trading for about $3.85 at the time of the last update in June, and it closed yesterday at $1.65. We bought at $5.78 on the 28 July 2006 so again we are still in the red with this one. When we were sitting on a paper profit of around 80% we sold half of our position in order to buy other uranium stocks, as we needed a bigger spread of stocks at the time. We had hoped that the bottom had been reached at the $3.00 level but it has continued to drop.

Mega Uranium Limited – Buy




We bought MEGA at around $4.0 on 27 July 2006. MGA was trading at $1.40 yesterday. In a recent news release the company had this to say about the political situation in Australia:

Mega is pleased to report the favourable outcome of the Western Australia State election, which has resulted in the incumbent Labor Party government, which opposed uranium mining, being replaced by an alliance of the Liberal Party and National Party. As the two parties forming the new State Government both have policies that favour new uranium mine development, there is no longer any political impediment to the development of Mega's 23.7 million pounds U3O8 Lake Maitland project”.

With the removal of this political ban we would expect the news to filter through and encourage investors to take a second look at Mega, but we cant count on it happening.


Khan Resources Ltd - Hold
We bought Khan on the 5th March at $3.63 and it has since dropped to lower levels due to licensing issues with the Mongolian regulators. So, in anticipation of Khans management team finding a resolution to this problem we decided to buy again. (See Khan Resources: A speculative buy) the stock rallied and we took a profit of 15% in a matter of days before the stock fell back again. Khan is still having a torrid time trading closing yesterday at $0.55.

Aurora Energy Resources - Hold
We bought Aurora on the 5th March 2007 at $14.17 and it is now trading at $1.80, a complete hammering for us. A resolution to the issues surrounding the granting of a mining license is desperately critical to their activities in the Central Mineral Belt, however it could be some time before these issues are resolved.

Strathmore Mineral Corporation - Hold
We bought STM on the 14th April 2007 at $4.96 and it is currently trading at $0.49, which is a very disappointing performance indeed.

Ur-Energy - Hold
We bought Ur-Energy on the 23rd April 2007 at $4.75 and we also bought again on the 24th August 2007 when we acquired more stock at $3.03. We had hoped to have bottomed on this one, but it was not to be and it closed yesterday at $0.76.

Denison Mines Corporation – Watch
We don’t own Denison (DML on the TSE) despite trying to buy it when times were better. However on 28 July 2008 we purchased the JAN09 Call Options of Denison Mines Corporation at a strike price of $7.50 for $1.10 per contract and they unfortunately closed yesterday at $0.20.

Other than sit through this carnage there is not a lot we can do at the moment. This situation may remain with us for the short term so we will just have to hold on until the uranium story grips the imagination of the investment community and it comes back to life. The need for uranium is not going to go away and the construction of nuclear power plants will continue but it could be some time before we see this reflected in the price uranium stocks. We had hoped to add more stocks to the ‘buy’ list but we cannot do this just yet.

If you have any comments or suggestions then please feel free to add them to this article whether you agree with us or not.

If you are new to this web site and wish to receive our free newsletter regarding investment in uranium stocks and updates regarding uranium, then please click here to subscribe.

For our latest commentary and trading signals on gold and silver, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.