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« Turkey invests big in nuclear power | Main | Rick Rule: Uranium’s Wounds Are the Making of a Bull Market »
Wednesday
May152013

Rick Rule: From Uranium Bear to Bull -- Why Low Prices Cannot Last

Today’s Sprott’s Thoughts were previously published in the May 2013 issue of Bonner & Partner’s Family Office Strategic Review (www.bonnerfamilyoffice.com).

The Game Changer

“In March 2011, a catastrophic earthquake devastated Japan. Near the quake’s epicenter, a nuclear complex called Fukushima sustained major damage and then took a devastating blow from a tsunami. The consequences were horrific. For only the second time in history (Chernobyl being the first), a major nuclear plant failed. And more importantly, the radiation containment integrity failed – causing widespread damage and global hysteria.”

The natural catastrophe had a major political impact, as the nuclear reactor failure brought back the chilling memory of the Chernobyl nuclear disaster, Rick states:

“Public reaction was immediate and dramatic. Japan shut down its entire nuclear industry. This reduced global uranium demand by 10% and dumped Japan’s now redundant uranium stockpiles on a suddenly overstocked market. Germany announced that it, too, would abandon nuclear power over time. Countries that had aggressive nuclear construction plans, most notably China, announced reviews of their nuclear strategies.”

The effect on the price of uranium was profound:

To read the article in full please click here.

With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.

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