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.
Just thought I’d update this… two weeks on the strong uptrend in the 2010, 2011 uranium futures contracts.
I’ve been researching across the ASX listed uranium players and I think that I’ve found a couple of gems… more research needed.
Uranium futures contracts are currently available for trading on the New York Mercantile Exchange (NYMEX)it is tradable on the CME Globex and Nymex clearport systems.
If you have a look at the posts below ASX listed Uranium speccies it gives an idea of where we are at today. The question that I am asking is: Are we seeing the start of a massively over-bought uranium market or is what we see just the start of a new bull run in uranium. The 5 year charts suggest that the bull is back. So let me know: Does the chart above signify a wall of worry or irrational exuberance?
The chairman of the up-coming G8 meeting, Japanese Prime Minister, Yasuo Fukuda, has informed the Annual Conference of the Japan Atomic Industry Forum, that he will give special attention to nuclear power.
Yasuo Fukuda told the audience that:
“I think that such a movement, which is called the ‘nuclear renaissance’, is proof that our country’s unwavering strategy to promote nuclear energy has been the right one. I, as the prime minister of Japan, will support your work and I will keep doing my best to promote nuclear power that is safe and steady. It is critical for us to strengthen the utilization of nuclear energy as a major source of power, along with our efforts for energy conservation and to develop renewable energy,”
And it gets better, as he goes on to say that he will be giving special attention to the importance of nuclear energy in our fight against global warming. It comes as a pleasant relief that the Japanese Prime Minister sees the environmental benefits of utilising nuclear power as oppose to coal fired power stations, for instance.
It will be interesting to see what Italy and Germany have to say, as they are still not pro nuclear power. However, both countries buy electricity for France so they are gaining a benefit from nuclear energy, although indirectly. Just maybe they will see the light and give some consideration to their own future energy requirements.
Should make for interesting reading as the situation unfolds.
What will happen when the uranium price begins to rise?
This is exciting… this very low market cap compnay has just released an inferred JORC of 4.6million pounds of uranium…
But the real excitment is that their OBAN deposit is a very small part of their prospective ground.
I’m joking???
Nice to see someone of Bromby’s calibre plugging uranium’s prospects….
Exceprt:
Uranium surprise coming
Robin Bromby | June 01, 2009
Article from: The Australian
WITH all the reports of China stockpiling metals – copper, for example – it’s surprising that speculators haven’t been thinking about what would happen to prices of certain commodities if the stockpiling effort was extended to them.
Uranium, for example.
Warwick Grigor, in his latest client note out of BGF Equities, wonders out loud what would happen if China chose to begin stockpiling uranium for its rapidly expanding nuclear power sector. With uranium one of those markets that are already tight in terms of supply, and being a strategic mineral as well, uranium stands out to Grigor as the obvious market for investors to watch. If China were to make such a move, he writes, “then it would be smart to get set before it commences this strategy”.
This is a nice compact analysis of the Namibian uranium scene with a bit of argy-bargy aimed at Australia… http://tinyurl.com/n36np4
Looks like a match made in heaven….
Novo: TOE
Reptile: DYL
And look at the neighbours
Toro Energy and Deep Yellow Form a JV
Exploring for Uranium in Namibia
There is to be an accelerated uranium exploration campaign by two Australian explorers in the
African nation of Namibia under a joint venture agreement announced today by Toro Energy
Limited (ASX: TOE “Toro”) and Deep Yellow Limited (ASX: DYL “DYL”).
The joint venture, the first between the two companies in Africa will see DYL (through their wholly owned
Namibian subsidiary Reptile Mineral Resources and Exploration (Proprietary) Limited (Reptile)) spend
A$3.5 million over the next two and a half years on three Exclusive Prospecting Licences (EPLs) held by
Toro’s Namibian subsidiary Nova Energy Namibia (Proprietary) Limited (Nova). Reptile will then be entitled
to gain a 65% share of the Joint Venture. Toro will retain 25% with Namibian Black Economic Empowerment
(BEE) Company, Sixzone Investments Proprietary Limited, holding a 10% share. Since late March any
company applying for renewal of EPLs is being informed by the Ministry of Mines and Energy (MME) of a
requirement for involvement of a BEE partner before renewals will be granted.
The new exploration partnership evolved from Toro’s previously announced review and restructuring of
African interests to provide increased shareholder value, more aggressive project advancement and allow
additional focus on Toro’s Australian uranium projects – particularly Wiluna (WA) and Napperby (NT) –
which have which have the potential for near-term production.
Reptile has a substantial exploration base at Swakopmund, close to the exploration areas and a Namibian
exploration team with a proven record of uranium discovery. The Namibian company is now able to
commence work following the grant of renewals for the three Toro-held EPLs, (3668, 3669 and 3670) by the
MME and the approval of the joint venture arrangement by the Minister.
The location of Toro’s EPLs in relation to DYL’s uranium tenements and to other significant uranium projects
and mines, is shown in Figure 1 and include:
• EPL 3668 lies immediately downstream of the operating Langer Heinrich Uranium mine with the
potential for the discovery of a similar style mineralization. Exploration will focus on fully
evaluating the buried palaeochannels within this tenement.
• EPL 3669 is located immediately south of where Bannerman Resources are exploring uranium rich
granites known as Alaskites at their Etango Project. There is also potential for uranium
mineralisation associated with magnetite-skarn mineralization similar to the INCA Project
discovery announced by Deep Yellow (ASX release 23/04/2009).
• EPL 3670 is in the southern part of the Erongo district adjacent to the Aussinanis calcrete deposit
being explored by DYL. The tenement has similar radiometric anomalies that could be evaluated
with shallow drilling.
Toro will maintain an up to date knowledge of the exploration work and findings through regular meetings
and briefings on progress under the joint venture agreement.
