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Thread: U3O8 Uranium.

  1. #1
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    Default U3O8 Uranium.

    The outlook for Oil in long term planning is at best doubtful or very expensive.

    And now with the opposition to the use of Nuclear Reactors very much subsided, many countries are resorting to building new power stations:

    "Who uses nuclear power?
    Over 16% of the world's electricity is generated from uranium in nuclear reactors. This amounts to about 2400 billion kWh each year, as much as from all sources of electricity worldwide in 1960.

    In a current perspective, it is twelve times Australia's or South Africa's total electricity production, five times India's, twice China's and 500 times Kenya's total.

    It comes from over 430 nuclear reactors with a total output capacity of more than 350 000 megawatts (MWe) operating in 31 countries. A further thirty reactors are under construction, and another 70 are on the drawing board":
    http://www.uic.com.au/uran.htm

    "The main uranium deposits can be found in Australia (28%), Canada (14%) and Kazakhstan 15%".
    ____________________________________

    The price of U3O8 is slowly rising after a strong advance some time ago and is now $US20.50/lb:
    http://www.uxc.com/review/uxc_prices.html

    Gerry



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    I'm interested in uranium Gerry
    Do you know which companies on the ASX are mining uranium.
    There must be a few of them.


    Mick
    He who lives by the crystal ball soon learns to eat ground glass. (Edgar Fiedler)

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    Mick100 this is gerry's set up thread (like his gold one) next he will say SMM for a uranium share,which he just happened to buy the other week.

    Same old ramping stuff.

    Cheers
    Miner

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    Mick,

    Forget this guy Miner. He is just ruining this thread. He should know better since he has been here since Sept 2001 but he continues to flout the rules. Doesn't like this needed thread, I suppose.

    I was going to refer to companies in my next post. However, I am not going to give any advice apart from mentioning some companies.

    These are from Australia: ERA, HAV, PDN, SMM (and Western Mining now being bid for). There could be others.

    HAV has other interests as well but has risen in the last 10 days or so.
    PDN has risen a lot as well. They have uranium assets in Africa.

    I hold SMM which has more proven uranium than HAV, however the Queensland Govt sofar has forbidden it to mine. SMM is drilling nevertheless and I read that the Chinese Govt is discussing uranium with Australia.

    I am having a look at the Canadian market. Have followed one for some time.

    May expand this next time by inclusion of websites, charts and some details.


    Thanks for your enquiry,

    Gerry
    Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

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    WMC Resources (WMR.AU) have recently discovered a higher level of uranium than previously expected at their Olympic Dam site, suggesting that they now have 38% of global economically viable uranium resources.

    http://au.biz.yahoo.com/041123/19/26yn.html

    This would obviously make them an ideal exposure to uranium, but unfortunately, the ideal entry point was a few weeks back, before a conditional takeover bid was announced.

    DISC: WMR

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    [Company Announcement]

    WMC 'uniquely placed' for growing uranium demand

    With 38% of the world's known economic uranium resources, WMC Resources Ltd (WMC) is uniquely placed among global uranium producers to benefit from forecast increases in uranium demand and prices.

    WMC's Olympic Dam mine in South Australia is not only the world's largest uranium mineral resource, but also the world's lowest-cost producer, WMC CEO Andrew Michelmore told a Citigroup Global Markets conference in Sydney today. 'Olympic Dam is the only uranium producer to meet all four requirements that buyers want - diversification, reliability, political stability and long life.'


    Current global uranium production meets only 58 per cent of demand, with the shortfall made up largely from rapidly shrinking stockpiles. The shortfall is expected to run at 51 million pounds a year on average from next year to 2020. Uranium prices have doubled in the last year to over US$20/lb and are forecast to settle at US$25-30/lb in real terms in the longer term.
    'A uranium supply squeeze is looming and the market is set to remain tight as nuclear power programs expand,' Mr Michelmore said. 'Japan is planning 16 new plants, with India and China building another seventeen. This will come on top of the global supply shortfall facing the current 438 reactors.'

    WMC is currently spending $50 million studying expansion plans for Olympic Dam's output to up to 15,000 tonnes of uranium oxide and 500,000 tonnes of copper annually. This could make the mine the world's largest producing and lowest cost uranium mine by 2010. As a by-product of copper production, WMC's marginal cost of producing uranium at Olympic Dam is less than $US3/lb.

    'Increased production, plus higher prices will ensure that uranium becomes a much more important part of WMC and Olympic Dam's future value.' Mr Michelmore said. 'The contribution of uranium and gold underpin the viability of the planned expansion at Olympic Dam.'

    WMC expects to produce 4,300 tonnes of uranium oxide for export from Olympic Dam in 2004. WMC's uranium is exported to electricity generators in Asia, Europe and North America under bilateral agreements between Australian and host governments.

    DISC: WMR

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    What a massive gap up in late October. Was this caused by share consolidation or price movement?

    Thanks in advance


    SMM: Just had a quick scan of recent report and short of a Queensland Government policy change SMM have and unusable uranium resource?

    Morch


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    Not sure if these may be of use to anyone....

    Uranium Tickers.

    ABN.V AFKDY.PK ALS.V ALZ.V ASX.V BCP.V BTT.V CBAG.OB CCJ CCO.TO CLU.V CMKX.PK CVV.V DEN.TO DRTK FRG.TO GDR.V GRS.TO HBE.V IEC.V IUC.TO JNN.V LAM.V LEG.V LGR.V NCR.V NSV.V NWT.V PDN.AX SAN.V SLT.V STM.V SXR.TO TXM.V UCA.V UEX.TO UGS.V URIX.OB USEG USU UVN.V WNP.V
    ABN.V AFKDY.PK ALS.V ALZ.V ASX.V BCP.V BTT.V CBAG.OB CCJ CCO.TO CLU.V CMKX.PK CVV.V DEN.TO DRTK FRG.TO GDR.V GRS.TO HBE.V IEC.V IUC.TO JNN.V LAM.V LEG.V LGR.V NCR.V NSV.V NWT.V PDN.AX SAN.V SLT.V STM.V SXR.TO TXM.V UCA.V UEX.TO UGS.V URIX.OB USEG USU UVN.V WNP.V


    ___________________


    ___________________

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    LISTS OF URANIUM COMPANIES

    Nice work Arco, thanks.


    More: From A-Z:
    http://www.uxc.com/links/uxc_links-a-c.html

    Perhaps:
    http://www.antenna.nl/wise/uranium/ucomp.html

    Gerry


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    quote:Originally posted by miner

    Mick100 this is gerry's set up thread (like his gold one) next he will say SMM for a uranium share,which he just happened to buy the other week.

    Same old ramping stuff.

    Cheers
    Miner


    yep, SMM mentioned last sly ol dog

    right on the $$$ there Miner

    no fleas on u

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    quote: What a massive gap up in late October. Was this caused by share consolidation or price movement?
    I presume you're referring to WMR.AU. A conditional takeover offer was lodged by Xstrata of Switzerland at $6.35. It had traded at a healthy premium to this since then, suggesting there is anticipation of either Xstrata raising their bid, or a bidding war involving another party. I can't predict where the price is going to go from here (it could go much higher, $9-$12 have been suggested should another bidder eventuate; but settling back to $5/$6 should nothing happen is possible as well). Personally, I'd be somewhat sceptical about buying into another stock for exposure to aluminium when WMR have so much uranium, which they're digging up to extract copper anyway. Obviously I hold WMR, so you should be able to work out which colour my glasses are tinted.

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    quote:Originally posted by limegreen

    quote: What a massive gap up in late October. Was this caused by share consolidation or price movement?
    I presume you're referring to WMR.AU. A conditional takeover offer was lodged by Xstrata of Switzerland at $6.35. It had traded at a healthy premium to this since then, suggesting there is anticipation of either Xstrata raising their bid, or a bidding war involving another party. I can't predict where the price is going to go from here (it could go much higher, $9-$12 have been suggested should another bidder eventuate; but settling back to $5/$6 should nothing happen is possible as well). Personally, I'd be somewhat sceptical about buying into another stock for exposure to aluminium when WMR have so much uranium, which they're digging up to extract copper anyway. Obviously I hold WMR, so you should be able to work out which colour my glasses are tinted.
    Yes it as WMR, and many thanks for your post. I note they say they are the worlds largest produce of Uranium? and unlike smm are in production so thats very positive. looking at the chart it seems that takeover is quite protracted but given the demand for Uranium your upside suggestion may be the more likley scenario.

    Morch

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    Rumour (ie, sharebroker, newspapers) suggest that WMR has not been that well managed in the past, making it a fairly attractive takeover target or investment, as they clearly have the mineral resources, so with enhanced management (which is now, allegedly, happening), there is some upside. Or at least that was my relatively uneducated reason for investment.

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    ERA:ASX Energy resources of Australia
    Owned approx 60% by rio Tinto
    Presently mines uranium in NT
    No Debt
    Check it out
    Running with the Bulls!!
    Go with the flow
    slimbo

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    There is some movement in share prices this morning:
    PDN: 68 (+ 12) Got some yesterday.

    SMM 19.5 (+2.5), I hold

    CVV(CanAlaska--Canadian) 43 (+3), I hold

    As to Uranium, no price increase was recorded.

    As soon as I get some time I want to get back to studying some Uranium companies and report here.

    Gerry
    Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.


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