Uranium stocks’ bubble slowly fizzling out
In the background, spot uranium prices have disappointed for years, after a monster bubble peak during 2007…….A number of fortunate stocks have taken opportunities to de-emphasise uranium; some really lucky ones have bailed all together………
Whatever happened to uranium stocks? – Mineweb, by Barry Sergeant, 20 Oct 10, JOHANNESBURG – Whatever happened to uranium stocks? At the beginning of 2009, Australia-listed Extract Resources was trading just above AUD 1.00 a share, while it was proving up what it would later claim as one of the world’s top ten uranium discoveries, at Rössing South, in Namibia.The stock price duly ran above AUD 10.00 a share, and then investors started taking profits off the table.
The stock has been down to around six dollars this year, and currently trades around AUD 7.00 a share. In the background, spot uranium prices have disappointed for years, after a monster bubble peak during 2007, around USD 140.00/lb
That bubble followed the end of Russian dumping, near-universal forecasts of significant more demand in uranium use from an energy-hungry world, and lots of liquidity via hedge funds and participation certificates. Another factor, still very much around, was the difficulty of valuing uranium stocks.
This year uranium spot prices fell below USD 41.00/lb in June, and have since risen to around USD 49.00/lb, dragging up a number of stock prices. But is there anything sexy at all left in a global subsector that set the mining world alight during 2007? It was convincing enough back then to inspire the August 2007 purchase by French transnational Areva for USD 2.5bn of Uramin, for Namibia’s Trekkopje.
A number of fortunate stocks have taken opportunities to de-emphasise uranium; some really lucky ones have bailed all together………
The world’s biggest established uranium miner (as opposed to explorer or developer), Canada-based Cameco, plods on. The stock is trading around CAD 30.00 a share, half the peak level seen in 2007…….
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1.This month.
Zoom webinar – “Nuclear Winter: The Environmental Consequences of a Nuclear Exchange.”
April 7th at 11:30 am PST / 2:30 pm EST
Nuclear Winter: The Environmental Consequences of a Nuclear Exchange”
Join us for an informative webinar with renowned atmospheric scientist, Professor Brian Toon, as he discusses the environmental risks and global impacts of a nuclear war. Despite the potential damage caused by the blast from even small nuclear weapons, many countries continue to invest in and expand nuclear arsenals. Professor Toon will provide a scientific assessment of civilian fatalities, agricultural failures, climate concerns, and complications with food supply that would follow any international nuclear conflict. We need to plan how to prevent nuclear conflict and avoid catastrophe. Politicians and military planners must be made aware of global climate and agricultural complications that would ensue. Don’t miss this opportunity to learn from, and engage in, this vital conversation
The Road to War brings a sharp focus to why it is not in Australia’s best interest to be dragged into a war with China which will almost inevitably go nuclear very quickly. The filmmaker has interviewed some of Australia’s senior foreign policy analysts who have vast experience behind them in analysing what really is going on here as the United States rattles its sabres with China. And sets us up to be its proxy, like the poor Ukranians have been fed into the Meatgrinder. So America can remain the Top Dog. The Road to War reveals how the United States through its spy base at Pine Gap and by stationing six nuclear capable B52 bombers in the Top End (without permission from the traditional owners) is making Australia a prime nuclear target if the current war of words suddenly melts down into full scale war.
The Road to War shows the implicit connection between Carbon emissions (the US military uses a whopping 70% of America’s annual petroleum to move its armies and vast War Machine around the globe to its 800+ military bases..but under a loophole wangled at Kyoto, the US military does not have to report its C02 annual emissions). The Road to War starts screening at selected cities and regional centres in March. See the trailer end for details.
Antinuclear 
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