I expect that we will see a significant bounce in our near term new uranium producers on the back of BHP’s et al reduction/deferral of ~40m-45mlbspa U3O8. We should also see a bounce in similarly placed copper producers and as such BHP’s deferral of its expansion of Olympic Dam could turn out to be a much needed boost for our mid-cap uranium and copper producers. I also think that Australia’s on-shore uranium plays will not get a new mine into production within the next few years and that makes me think we should be looking at off-shore uranium mining friendly countries and fortunately we are more than well endowed with ASX off-shore elephantine uranium plays with great prospects for near term (< 5 years) production. Copper producers should find it much easier and of those about to produce CDU, AOH and a couple of others look to be more than a little interesting.
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It is quite a wake up call when you see just how much of the world’s largest JORC uranium deposits are controlled/operated by ASX listed companies. That the majority are micro-caps points to some very robust gains to come.
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