Antinuclear

The uranium industry has had the gong

The bull market in uranium is over, – MoneyWeek. By Dominic Frisby Mar 31, 2011 “The worldwide backlash against the nuclear power industry is only beginning to be felt and promises to deal a devastating blow long-term to the uranium stock sector. The catastrophic events in Japan were followed by a precipitous drop in uranium share prices, which have just had their obligatory dead cat bounce.

“What lies in store is a long-term decline in the sector as new projects are deferred or cancelled, public sentiment and political pressures make it impossible to get permitting or green lighting, uranium prices retreat and juniors find it virtually impossible to get new financing to develop projects for which there will be no economic justification. This will all be reflected in a slow, inexorable decline in share prices and ultimately the failure of most uranium juniors.”

It’s a grim outlook. But I think it’s the right one…….

March 31, 2011 - Posted by Christina Macpherson | Uncategorized