Sunday, May 11, 2008 at 07:54PM
Chart courtesy of www.u3o8.biz
According to The Ux Consulting Company (UxC) the price of uranium on the spot market slipped recently $2/lb to $63/lb. However, the long-term price remains steady at $95/lb and over at NYMEX the futures price for most of this year is around $65/lb. But, we can detect some stirring amongst uranium stocks as bargain hunters move to secure stocks at cheap prices.
As we wrote about recently both Laramide and Mega uranium jumped dramatically and also managed to hold onto those gains. To get a feel for what is happening to stocks in this sector we took a peak at a web site called Canadian Uranium Stocks, well worth a visit if you can find the time. This site lists the stocks, along with the latest price, price change, %change, Volume, shares outstanding and market capitalisation. We then scanned the list for those uranium stocks that had achieved a percentage gain of more than 20% on Friday and the following is a list of those stocks. There are also many more stocks that we have not listed showing good gains of between 5% and 20%.
Cash Minerals Ltd. +23.08%
Crosshair Exploration & Mining Corp. +23.61%
Delta Exploration Inc. +20.00%
Ditem Explorations Inc. +26.09%
Mawson Resources J1. +27.78%
North American Gem Inc. +40.91%
Nova Uranium Corp. +20.00%
Pacific Ridge Exploration Ltd. +25.00%
Silver Spruce Resources Inc. +40.63%
Uranium Power Corp. +33.33%
Universal Uranium Ltd. +89.29%
We agree that this is not a scientific form of analysis but it does indicate that there are buyers out there who are prepared to make an investment despite the spot price drifting aimlessly and uranium being out of favour.
We hope that the above brings some good cheer to your Monday and puts you in a positive mood for the week ahead.
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