Mar

21

Cameco updates Cigar Lake remediation

March 21, 2007 | Leave a Comment

On Monday Cameco updated their remediation of the Cigar Lake mine, with production now targeted for 2010. This is a full year behind their estimate in late 2006, but my sense is that the news is largely priced into the market at this point, given the fact that Cameco had delayed the estimate twice since the remediation process began in November. However, it remains to be seen whether Cameco will be able to execute on its promises, so […]

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Mar

15

Spot uranium price jumps to $91/lb

March 15, 2007 | Leave a Comment

UxC is reporting that the spot uranium price has jumped to $91 per pound on the heels of an announcement by Energy Resources of Australia that mining at their Ranger mine has been temporarily stopped due to flooding from a recent cyclone. Long-time readers will know that ERA was a previous holding of mine, but was sold after I was less than enamored by 2007 production guidance. We will see how much this incident impacts ERA, which supposedly […]

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Mar

1

Sold remainder of Energy Resources of Australia

March 1, 2007 | 2 Comments

This morning I sold the rest of my holding in EGRAF.PK at $20.00. As I noted a month ago, I was less than happy with ERA’s 2007 guidance. The stock has surged in recent weeks on takeover speculation, and with the current correction working its way through the market, I wanted some cash in order to take advantage of a more attractive situation. I now have the flexibility to take advantage of potential selloffs.

ERA returned about 29 […]

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Feb

23

Premarket thoughts

February 23, 2007 | 1 Comment

I wasn’t able to make it to the computer last night, but just want to tie up some loose ends from yesterday.

NTRZ had a very reasonable day, and it isn’t going to go straight up. Slow and steady will win the race here.

As for OPBL, someone asked whether we should worried with the stock dropping here. Frankly I don’t think so. The stock dipped a bit in November when trading volumes were down, but at least then […]

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Feb

15

Uranium price remains at $75/lb

February 15, 2007 | Leave a Comment

The uranium price remains unchanged at $75/lb for the second straight week, according to UxC. It appears that producers and end-users are still playing the cat and mouse game here. As I detailed a few weeks ago, it is obvious that producers have the stronger bargaining position given the supply/demand situation in the market, and I believe that they are going to continue to hold out for higher prices in the near term.

Because the uranium market is not liquid and […]

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Feb

14

Energy Resources of Australia on fire in Sydney trading

February 14, 2007 | Leave a Comment

ERA has been on fire in Sydney trading of late, leaping some 30% in the last few days. ERA noted today that the price action may be caused by speculation over a potential takeout of the rest of the shares by Rio Tinto, which already holds a 60% stake in the company. My sense is that money may also be rotating out of the more speculative uranium plays as investors take profits, and that money has rotated back into ERA […]

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Feb

13

A good read for uranium investors

February 13, 2007 | Leave a Comment

As you guys know, I try to pass on what I’m reading when I think it is relevant. The article below provides a very good big picture of the uranium sector, and lists the major players and potential investment candidates. Definitely worth a read.

Uranium article

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Feb

9

Sold 80% of EGRAF, and opening bell thoughts…

February 9, 2007 | Leave a Comment

This morning I sold 80% of my position in EGRAF.PK for a gain of about 12% in two months. As I stated last week, their 2007 guidance was not agressive enough for my liking, so I decided that I would take some profits, free up some capital, and look elsewhere. I expect EGRAF.PK to continue to perform well in 2007, but is a relatively safe bet, and I wanted to free up some capital to be more agressive.

As for my […]

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Feb

1

Reviewing Paladin’s quarterly report and ERA’s full year

February 1, 2007 | Leave a Comment

Today I spent a good chunk of time analyzing the recent reports by Paladin Resources and Energy Resources of Australia. The results, I think, are rather interesting.

I will start with a brief review of the ERA documents released today. As this is one of my holdings, I spent quite a bit of time on this report, and frankly, I am not satisfied that ERA is taking the steps necessary to return value to its shareholders. 2006 was not a particularly […]

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Feb

1

Uranium price jumps to $75

February 1, 2007 | Leave a Comment

After 5 weeks of being unchanged, the uranium price jumped 4% to $75/lb. This is a significant move, and it is likely to be the first of a series of increases leading up to Cameco’s March annoucement about the rehabilitation of the Cigar Lake mine.

This is very positive news. I expect the uranium sector to resume its rally here. I will be reviewing the recent press releases from EGRAF.PK (Energy Resources of Australia) and PALAF.PK (Paladin Resources) later today, and […]

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