This company got beaten up so badly that some of the portfolio managers have been dipping in. A great asset, mostly in Australia. He hasn't bought yet, because he can't time panic.
Major project is in Queensland Australia. There is still not state approval for mining uranium there but this will just take time. Their Westmoreland property is quite attractive. He buys in the $7 range and trims back when it gets close to $9.
Stock has been beaten down and it does look very cheap. Probably has about 45 million pounds in Westmoreland, Australia and this can be expanded. If you have a long time-horizon, you might want to start accumulating this. Queensland is against mining, but he expects this will change in the next few years.(Buy uranium stocks when uranium is near its bottom, possibly around $75/$80.)
Uranium company in Australia. Quite a large resource in the ground. In the short term, it looks like uranium could stay flat. In the long-term, with a shortage of uranium, uranium prices will go back up. Small company that has to build its project and financing is tough.
More speculative because most of their land is in Queensland. Have 50-60 million pounds there but can't mine right now. Thinks moratorium will get lifted in the next 12 months because Queensland is hurting with high unemployment. When that happens, he thinks stock will double
Because of supply/demand, expects uranium prices will move higher over the next 18 months. Main property is in Queensland, which has a ban on uranium mining. Expect this will be lifted in the next 2 years. Be patient.
Chart shows a up pattern on the beginning of the year. Even though it had a nasty day today, the uptrend has not been violated. Has to get through about the $1.25 area before it can be considered a breakout. If you know the fundamentals and this matches them, it could be okay. (See Top Picks.)
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