Gold and mining shares are once again at or approaching some very interesting technical points. Gold held its 200-Day M.A. and now has crossed above its 50-Day M.A. A close above $960 could really get things going to the upside. Meanwhile, the GDX is also at a critical resistance area so stay tuned.
I don’t know if any spot uranium charts are around, but I have one, crude but fairly accurate. As I stated in a different blog site, there was an upside breakout to 51. In any case I thought that was quite interesting with the Ur stks starting to move up.
Hi Peter, not sure if my last post went thru so my apologizes for repeating. “FAN” is there a lawsuite still pending with them or is it complete. How will it affect share price as I own stock in them.
Thanks again
Anna
Challie,
Uranium price might have broken up to 51 but uranium stocks broke our a few months ago. Even denison mines, which doesn’t have any profit forecast for 2009 and 2010, has tripled from $1 to $3 (before current pullback). Not to mention uuu and pdn. Junior explorers have done quite well as well. So I am wondering if this break out has already been priced in. But considering uranium price will slowly inch higher from this level, a good pullback in stocks will provide a good opportunity.
I am also wondering what took so long for uranium price to move up when oil and copper started moving up months ago. I read that Lehman Brothers have some uranium somewhere and at some point, it will be sold in the market. That’s the overhang on uranium price.
Challie
Uranium is in a bull market and the next leg up is just starting.
The future is Electric.
Uranium will power it, Copper will transmit it, Silver will (super-)conduct it, Lithium, Nickel, Potassium, Phosphates and Lead will store it and last but not least, Rare Earth metals will convert it.
Check this out:
http://321energy.com/editorials/hoye/hoye050609.html
In regard to uranium, I ran across a study into THORIUM,a nuclear fuel easier to handle than uranium, costs less and is a cousin to uranium. No one that I know of has explained the differences nor the use of thorium as a safer and cheaper fuel source. Anyone with info on this area, please share the info.
My first venture in uranium started in around ‘85, with the purchase of CCJ, then it languished for many years until ‘04-05, when i sold it, getting back into the juniors in ‘05. With the long history of sitting still, I wonder when the Ur market will grow legs again.
While not many can participate in the spot market for Ur because of many rules and restrictions, I don’know the value of the chart I have on that spot market. In any case, there was an upside breakout and is encouraging
addendem ………… I read in one of the uranium letters that are around that a private long term agreement was entered into where the supplier would receive $93 per pd and this was within this week
NAK, what do you think is the down side risk from $6.00 a share. 50 day ma is at $6.25 roughly
Coach
Challie
The Indians have been developing Thorium reactor technologies because of their vast Thorium deposits. Also Thorium Power THPW has been working with the Russians to develop a Thorium fuel that could go into exisiting reactors which in theory would be a great solution. Go tho their website and you can find lots of info on Thorium at:
http://www.thoriumpower.com/
The problem as I see it is that the Nuclear power industry is very conservative and it’s going to be a long process to change things which is understandable.
Also many other new but more mainstream technologies are competing with Thorium and promising lower costs, higher efficiencies and less waste coupled with big company backing (Areva, Toshiba, GE, etc…) and you know the old saying : no one ever got fired for buying IBM.
Anyway, one day we will see Thorium reactors take off but I have a stong suspicion that it will only be taken more seriously on a larger scale if and when Uranium resources start to deplete.
# 8 …. Thanks for the tip, it was very informative.
Peter.,
In your last email you mentioned that Xstrata was pulling out of it’s large Brunswick Zinc mine .
So I was wondering…….As you suggest that If Zince is going to be in demand due to short supply, why are they doing that?
Thanks,
Roy