Uranium Prices Drop Again
The spot uranium price dropped again, falling to $75 per pound, according to Bloomberg News and TradeTech (sorry, not available on the web). That's a 46% drop from its all-time high of $138 in June.
Nonetheless, uranium stocks are heading much higher. Look at Canada's Uranium Focused Energy Fund (UF.UN on the TSX) ...
Meanwhile, the Uranium Participation Corp. (U on the TSX), a fund that holds physical uranium oxide and uranium hexaflouride, is also rallying.
What's more, the company is issuing 4,465,000 common shares at a price of $11.20 per common share, representing an aggregate amount of issue of approximately $50.0 million. 85% of that money will be used to buy more uranium.
I think the smart money finds uranium and uranium stocks cheap at these prices. I'm looking for a 4th quarter rally in uranium prices as buyers come back into the market.
UPDATE: Here's the LINK.
Nonetheless, uranium stocks are heading much higher. Look at Canada's Uranium Focused Energy Fund (UF.UN on the TSX) ...
Meanwhile, the Uranium Participation Corp. (U on the TSX), a fund that holds physical uranium oxide and uranium hexaflouride, is also rallying.What's more, the company is issuing 4,465,000 common shares at a price of $11.20 per common share, representing an aggregate amount of issue of approximately $50.0 million. 85% of that money will be used to buy more uranium.
I think the smart money finds uranium and uranium stocks cheap at these prices. I'm looking for a 4th quarter rally in uranium prices as buyers come back into the market.
UPDATE: Here's the LINK.
Labels: uranium
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posted by Sean Brodrick @ 11:42 AM
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