Mega Uranium Limited gained $0.60 today on volume of 1.46 million shares traded to close up 23.08% at $3.20, along with a number of other uranium stocks that also made good gains.

Mega Uranium released a news statement which may account for some of the renewed interest which went as follows:

Mega Uranium Ltd is pleased to announce the commencement of a 3,600 metre drill campaign on the Maurice Point property in the western Athabasca Basin. The Maurice Point uranium property is under option by Mega from Forum Uranium Corp. (TSX-V:FDC) where Mega can earn a 55% interest in the project by spending $8 million over three years. Forum is operator.

If you wish to read the article in full then please click this link.

Apart the news release we are now of the opinion that market sentiment is beginning to turn in favour of this much denigrated sector as each day we are seeing uranium stock price increases across the board characterised by a star performance such as Mega Uranium today and Khan Resources yesterday.

A quick look at Mega’s chart shows a terrific jump today on vastly increased volume. The technical indicators have turned up with a vengeance, it will be interesting to see if this stock can go on and and rally from this point.

Mega Uranium Limited trades on the TSX under the symbol MGA.

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