Uranerz: Still Waiting for a Support
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Topic: Uranium Mining Stocks — July 17th, 2007
Uranerz is down more than 45% from its high of $7.65 in April.
We wrote about Uranerz on the 6th July when it was $5.10 saying it was “Close to a Buy”. Since then the stock has fallen over 18%. We wrote that URZ needed to find a support before making a purchase on the 11th of July when the stock was trading for as much as $4.70 and since that post URZ has lost over 11%
By being patient we have saved ourselves and hopefully some of our readers a loss of nearly 20% in ten days. However we are still waiting for Uranerz to find a support and until it does we cannot consider purchasing this uranium stock.
Yesterday the company announced that they had acquired approximately 8000 acres in Texas where, according to 90 drill holes, there is a possible uranium mineralization trend. However, the market did not respond well to this and the company plunged over 8% in yesterday’s trading.
No matter how good the fundamentals of any company are, we must be professional and not chase a stock in any direction. We shall be watching URZ very closely for signs of it finding a bottom and consolidating before considering a purchase and adding it as a BUY to are uranium stocks portfolio.
Uranerz trades as URZ on AMEX.
Uranerz Energy Corp: Needs A Support
Strathmore Minerals: Found a Bottom and Consolidating
Uranerz Energy Corporation: Close to a Buy!
Uranerz Energy Corporation: Another Hot uranium Stock!
MSN READERSHIP NO 1: Thanks for your support
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The Texas addition of 8000 acres news came out after market close FYI….as such had no bearing on yesterday’s drop in share price.
Just clarifying as your post (below) implied that the news was not received well by the market.
“Yesterday the company announced that they had acquired approximately 8000 acres in Texas where, according to 90 drill holes, there is a possible uranium mineralization trend. However, the market did not respond well to this and the company plunged over 8% in yesterday’s trading”.
Comment by Mike — July 17, 2007 @ 1:00 pm
Please accept our apologies for this error.
We shall have to see how the market responds to the news today.
Comment by Uranium Stocks — July 17, 2007 @ 1:48 pm
URZ seems to have found support today. Back above the 200 DMA and stronger than usual volume on the European side.
Looks like accumulation today and the news today was good as it shows the company is executing and moving forward.
Hope I didn’t just jinx it. Let’s see what tomorrow brings
Comment by Mike — July 19, 2007 @ 1:55 am
News - Uranerz Welcomes New Land Department Manager
Wednesday July 18, 1:09 pm ET
CASPER, WYOMING–(MARKET WIRE)–Jul 18, 2007 — Uranerz Energy Corporation (AMEX:URZ - News)(Frankfurt:U9E.F - News) is pleased to announce that it has retained the services of Mr. Douglas C. Hirschman to the Casper, Wyoming operations office as the Land Department Manager for the company’s North American uranium acquisition and exploration activities.
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Mr. Hirschman is a graduate of the University of Wyoming and has over 30 years of experience in the mineral exploration industry serving in various capacities and most recently as Manager of Lands, International with Newmont Mining Corporation. Mr. Hirschman has supervised mineral property acquisitions, prepared and negotiated agreements including joint ventures, performed land status investigations on federal, state and private mineral interests in the Western USA, and maintained land records insuring timely satisfaction of land payments and agreement obligations.
“With the company growing and expanding at our current rate, we are extremely pleased to have someone of Mr. Hirschman’s caliber and ability join us,” stated George Hartman, Chief Operating Officer and Senior Vice President, “His experience both locally and internationally will be extremely beneficial as we progress in our development and expansion.”
Mr. Hirschman is an active member of the American Association of Professional Landmen.
Mr. Bill Houston who joined us in November of 2006 has reduced his current role with the company, but will continue to assist Uranerz on special projects.
Uranerz Energy Corporation has expertise in in-situ recovery uranium mining and holds a number of properties in Wyoming with uranium-mineralized sandstone. Several of the Powder River Basin uranium properties are advanced, and the Company has initiated environmental licensing and mine planning for the development of two of these properties, the Hank and Nichols Ranch projects.
To obtain more information, contact investor relations at Uranerz, telephone 1-800-689-1659, or visit our web site at www.uranerz.com
ON BEHALF OF THE BOARD
Glenn Catchpole, President and CEO
This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management’s expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Key factors that could cause actual results to differ materially from those described in forward-looking statements are:
(i) the inability of the Company to complete the acquisition of any interest in any new mineral exploration properties;
(ii) the inability of the Company to achieve the financing required to pursue the acquisition or exploration of any new mineral properties;
(iii) the inability of the Company to raise the financing necessary to conduct exploration or development of its properties;
(iv) the lack of presence of commercial mineralization on its properties; and
(v) the inability of the Company to establish commercial deposits or reserves of uranium on its properties.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
Contact:
Contacts:
Uranerz Energy Corporation
Lloyd Jacobs
Investor Relations
1-800-689-1659
(604) 689-1722 (FAX)
Website: http://www.uranerz.com
——————————————————————————–
Source: Uranerz Energy Corporation
Comment by Mike — July 19, 2007 @ 1:56 am
Mike,
We appreciate your enthusiasm and welcome your thoughts and comments. However we would prefer it if you wrote about a news release and maybe supplied a link to it for other readers to investigate further. There are portals that print the above data but thats not what we are about. If we posted every news release we would just sink under the weight of the data.
Many thanks,
Bob
Comment by Uranium Stocks — July 19, 2007 @ 9:36 am
The progress made by the companies recent good news looks to have been short lived as we watch the this stock today. Its down $0.27 or 5.88% as we write.
Comment by Uranium Stocks — July 20, 2007 @ 4:26 pm
I bought u308 at about $4.00/share. Recently it has really been suffering - fallen below $2.00. Any interest in buying at this level if it starts to form a bottom? Thanks for your input. Great website.
Comment by sue — July 25, 2007 @ 6:25 pm