Uranium company gives up – switching to property development
United Uranium Limited moving from resources exploration to property development United Uranium Limited moving from resources exploration to property development http://www.proactiveinvestors.com.au/companies/news/55373/united-uranium-limited-moving-from-resources-exploration-to-property-development-55373.html June 02, 2014 United Uranium Limited moving from resources exploration to property development
United Uranium Limited (ASX:UUL) is exploring opportunities that will most likely result in a shift away from resources exploration to property development in a bid to increase shareholder value.
This follows completion of a strategic review that identified the unwillingness of the investment community to invest in junior resources companies, particularly those focused on uranium.
It added the early stage status of its projects required significant funding to explore, with no guarantee of commercial success.
These add to the continued depressed uranium prices, and commodities prices in general.
In contrast, it noted that investors were willing to invest in property developments with the sector currently experiencing strong housing demand.
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