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Monday
Jul152013

Uranium, rare earths miners in doldrums

A FEW years ago, talking up a well-balanced portfolio of uranium and rare earth elements assets would have been a mouth-watering come-on for investors. Not now, of course.

You've got Toro Energy (TOE) with most of its ducks in a row including finance and government approvals to develop Western Australia's first uranium mine. All except the rather important duck of a spot uranium price somewhere in the vicinity of $US70 a pound that would make the mine viable; it's stuck with $US39.50/lb.

A few years ago, the average resources punter would have sold their children to raise money for buying such a share, but Toro languishes at just 9c.

And there was disappointment on Friday for Aura Energy (AEE), French nuclear giant Areva pulling the plug on plans to partner up with the Australian junior in its Haggan uranium project in Sweden, one of the largest undeveloped uranium projects in the world (389,000 tonnes).

To read this 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.

 

Great care will be needed in the selection process in order to generate a reasonable profit and that’s where our new venture begins. ‘Stock Trader’ has begun trading on behalf of ourselves and our much valued subscribers, all exciting stuff which we are really looking forward to, if you wish to join us then please subscribe below;

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