Antinuclear

Big drop in value of uranium companies

Uranium Producers in Takeover Play as Assets Exceed Share Price:U3O8, April 14, 2011  — Uranium companies from Toro Energy Ltd. (TOE) to Mega Uranium Ltd. (MGA) are so depreciated they’re trading at less than their assets would be worth in a fire sale. …..Toro, which is seeking to develop the Wiluna deposit in Western Australia, fell to 0.88 times the value of its assets minus liabilities from 1.09 times during the same span, the data show….
Toro is awaiting regulatory approval for its $278 million Wiluna uranium mine.
‘Big Drop’  “We’ve had a big drop because we’re in the development doldrums and people know we’ll need to raise money for Wiluna’s development in 2012,” Chief Executive Officer Greg Hall said in an interview.

April 15, 2011 - Posted by Christina Macpherson | business, uranium, Western Australia