Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
It is likely significant that “Government frontbencher Stephen Smith has defended Prime Minister Julia Gillard for not consulting with cabinet before announcing her plans to overturn a ban on uranium sales to India.” (read full article) as Stephen Smith is being actively touted as being Gillard’s replacement if there is to be a change in the Labor party’s leadership.
Those of us that still are invested in the sector should take some comfort from Smith’s comments. However several of the state Labor party leaders have divergent views and with a “green” senate it looks unlikely that we will see new uranium mines inside Australia’s borders in the near future.
Hence our overseas ASX listed uranium plays probably still offer the best chances.
‘‘potentially very dangerous uses … We don’t want to be seen to be part of that effort,’’ she said.
I worry about who Anna Bligh gets her energy advice from.
This will be very interesting! See my post below.
“Extract Resources Ltd (the Company) has requested a trading halt for trading in securities of the Company on the ASX from pre-open on 10 November 2011, until the earlier of the commencement of trading on 14 November 2011 or when an announcement is released to the market relating to the discussions between CGNPC Uranium Resources Co Ltd and Kalahari Minerals Plc, Extract’s 42.74% shareholder. The Company has requested the trading halt pending the expected release of an announcement by Kalahari on the London Stock Exchange.”