MNS 0.00% 29.0¢ magnis energy technologies ltd

uranium sector returning to life

  1. 387 Posts.
    Interesting article from Stockhouse website from yesterday.

    I really think we are seeing the turning point now in all uranium stocks as this article points out the demand will only increase. With interest from the Chinese
    (takeovers)and new power plants coming on line in the next 5 years in major countries such as China,Russia,India,USA, UK and them clearly signaling their commitment to nuclear power. The results so far from the UNX drilling have been nothing short of sensational and even just normal readings on any further announcements will be a company maker. Be patient we will be rewarded.

    Uranium sector shows signs of returning to life
    Tuesday, July 12, 2011
    Darcy Keith

    Don't look now, but the uranium sector is actually showing some signs of life after going into a near free fall early this year with news of the Japanese nuclear crisis.

    Uranium prices appear to have stabilized and equities that are linked to the commodity have risen about 10 per cent, on average, over the past three weeks.

    Could it be that the dreadful sentiment that permeated the sector is finally starting to lift and a sustained recovery is at hand?

    The analysts at Dundee Capital Markets tend to think so.

    We are starting to hear a buzz in the sector - many investors are starting to realize that many of these stocks are trading well below their net asset values,analyst David Talbot said in a research note today.

    Despite the Fukushima reactor meltdown, he contends that longer-term fundamentals haven't changed for uranium, and he expects there'll be more demand than supply in just two to three years.

    Germany's planned exit from the nuclear industry certainly spooked the market. But the announcement isn't nearly as important as many believe, he contends. With 180 million pounds of worldwide uranium requirements, Germany represents only 5 per cent of demand today and would have been only 3 per cent by 2020.

    In the meantime, 61 reactors in 16 countries remain under construction - and they will require a lot of uranium to keep them humming.

    Long term, (demand) might be down 5 to 10 per cent from where we expected to be by 2020 but we still expect more demand than supply by then, particularly as low uranium prices potentially defer even more mining projects,he said.

    He notes that sentiment has received a big boost in recent weeks from a number of events supportive of the industry, including: Bannerman Resources Ltd. , a developer of uranium deposits, receiving a takeover offer from a Chinese mining company; the U.K. revealing plans for eight new reactors; Russia, China and India reaffirming their support for nuclear power; and Cameco's CEO suggesting he's on the lookout for acquisitions.
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