Uranium Stocks beginning to head out of their hockey stick form! - Aussie Stock Forums

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  1. #1

    Default Uranium Stocks beginning to head out of their hockey stick form!

    Paladin (PDN) up by 15% today. ERA up 5%. There are more stirrings following some mainstream press attention to the current price of uranium and the inevitable, not probable, demand for this unique energy metal. Lets look at some real brick and mortar fundamentals with uranium that make it a must have in all investors portfolios going forward into a world likely to hit expensive oil again.

    Global consumption has been steadily climbing up to around 60,000 tonnes per annum. Half of this is pulled from the ground and the rest comes from desembled weapons inventories maining in good old Russia! However these inventories are about to run down at a point in time where countries around the world ramp up nuclear power plans. The cost of uranium account for only 5% of the cost of nuclear energy with the rest coming from plant establishment and maintenance. Uranium recently hit a 20 year high of US$20.70 /lb and has continued to rally regardless of oil prices coming back from their US$57 /barrel highs in late 2004. Australia has around 45% of the known global resource that is currently able to be mined at these prices and only three mines are in production in Australia. One is the Beverley mine down in SA which is not listed on the ASX or anywhere for that matter. It is privately owned by the US giant General Atomics. The other two mines are WMC's Olympic Dam and ERA's Ranger Mine. All the market fundamentals point to a continued rally in uranium stocks this year. Keep an eye on the uranium price in particular (uxc.com). The best thing about this commodity unlike gold and silver is that if you want a piece of the action you have to buy shares. You can't physically buy uranium. There are some great Canadian stocks also and investors over there are much more aware of the potential of this sector of the energy market.

  2. #2

    Default Re: Uranium Stocks beginning to head out of their hockey stick form!

    Thanks for the info. WHat are your uranium picks then and why ?Are they anymore cheap uranium stocks with potential like PDN ?

  3. #3

    Default Re: Uranium Stocks beginning to head out of their hockey stick form!

    Hi there

    For months now, I have been a firm supporter of Monax Mining.

    Some of you have been pessimistic when the stock was languishing below the 20 cents mark. Today it hit as high as 37 cents. Am expecting it to go back to high 30s again in the next few days as the market absorbs the news that yellowcake prices are once again on the upward trend.

    Monax has now release 2 market sensitive releasese over this week - for those who want a cheap stock, this is the one to go with.

    I have already made a hefty profit on this one.........

    It now has more exploration land and it is also about to start on Kangaroo Island drilling ---exciting times ahead !!

    Now is definitely the time to be buying in to Monax.

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