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« PDAC-After Fukushima fallout, future brightens for uranium juniors | Main | The Recent Fed FOMC Minutes Should Anger Every Investor »
Tuesday
Mar052013

Better Times Ahead for Uranium Stocks

Scanning the air waves there bits of good news for investors in this tiny sector so we have picked out a few snippets for you:

 

Cameco Corp. is just months away from opening its Cigar Lake uranium project, the world’s second-largest high-grade uranium deposit, more than thirty years after it was discovered and just as global prices for the nuclear fuel show promise of a rebound.

“We’re on track with Cigar Lake. We said we’d be starting the mining in mid-2013 and we will and we’ll have first production from the mill in 2013,” said Tim Gitzel, chief executive officer of the Saskatchewan-based owner of uranium projects in Canada, the United States, Australia and Kazakhstan.

“It’s been a long project. A long time. That ore body was discovered in 1981 and here we are now, not decades or years but mere months away from first production, so we’re pretty excited about it,” he said on the sidelines of the annual Prospectors and Developers Association of Canada (PDAC) conference in Toronto.

Cigar Lake will supply uranium for some 20 or 30 years. Cameco, the world’s biggest publicly traded uranium producer, is the 50 per cent owner of the northern Saskatchewan mine, which has ore grades that are among the world’s highest, at 100 times the world average.

To read this article in full please click here.

Good uranium times will return: ERA


MAKING a buck isn't easy these days for uranium miners, but Australia's largest producer insists it is set to cash in when the good times return.

Current prices for the key nuclear power source are less than a third of the $US135 a pound 2007 peak.

Rio Tinto-owned Energy Resources of Australia (ERA) said on Tuesday the sub-$US50 a pound current prices were preventing new projects from entering production.

One example is mining giant BHP Billiton's cancellation last year of the $US30 billion Olympic Dam expansion - it would have been the world's largest uranium mine.

That's good news for other uranium producers such as ERA, with the caveat that it must extend the life of its declining Ranger Mine through its new underground Ranger 3 Deeps Project it hopes will come online from 2016.

"Given the long lead times required to establish new mines, ERA would be in a strong position to play a lead role in providing a reliable and competitive uranium

Three new nuclear power projects were recently approved in coastal areas in China, with another 40-50 to be built this decade, lifting demand.

To read this article in full please click here.

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Reader Comments (2)

We live in hope but given that Cameco have said the price will only be $65 in three years time which is only break even on average ,there is little hope for a recovery in junior uranium miners. The Cameco price will , however be a leading indicator and is the safest bet in this sector without making huge gains

March 6, 2013 | Unregistered Commenteruranium bug

Agreed - we need to watch Cameco in order to discern the trends.

March 6, 2013 | Registered CommenterUranium Stocks

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