Uranium miners

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Uranium miners

Anyone want to discuss uranium miners? Most have been hammered but the long term prospects for uranium are great, even two or three years out.

I own UEC, bought it recently, and am considering others, especially URZ and FIS.

UEC is the newest producer in the US but also have ambition to continue to be successful explores.

I will paste relevant links in due course.

Anybody have any uranium plays?

Edited by admin on 11/08/2014 - 06:18
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Interview

Brent Cook and Rick Rule interview on uranium and geothermal, mention a few companies:

http://www.theenergyreport.com/pub/na/9886

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UEC Presentation

http://uraniumenergy.com/_resources/presentations/UEC_Presentation_June_28_web.pdf

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Cameco

I'm keeping an eye on Cameco as a large-cap play. It has gotten cut from around CAD 42.50 to CAD 24.50 since Fukushima. Now, it may have been overvalued before, but it sure as heck isn't any longer. If it was fairly valued before, it is now cheap as dirt.

But I'm patiently waiting to pull the trigger - if we have another "flight from risk" then we may see another leg down in resource stocks. The real kicker we should be waiting for is when everyone goes "uh-oh, just because Germany pretends they are going to shut down 7 old crappy nuclear plants does not mean there will be significantly less demand for Uranium". What everyone seems to be missing is that France will be building, Lithuania is building to replace that old leaking pile of crap they called "Ignalina" (god am I happy to see that one shutdown, even when living on the other side of the Baltic Sea), China is likely to keep with the nuclear, and so on. Just because Angela Merkel tried to do some "coalition-building" with the Greens and throw a bone to those moronic anti-nuclear douches that tape themselves to railroads where they run nuclear waste (whats the freaking holdup?! just run them over and solve the problem permanently ....) doesn't mean nuclear is done for.

If you believe in energy scarcity, then you believe we need more nuclear, not less. So, in due time, I will probably put at least 20% of my entire holdings into energy (with a large chunk in Uranium). 

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James Dines was interviewed

James Dines was interviewed at KWN the other day stated that he thinks the uranium miners will be huge in the coming years.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/12_James_Dines.html

Just a note. Many rare earth deposits have uranium so, you might be able to "double up" on some companies. Eager to hear everyone's plays.

I know Cameco is supposed to be the best one. Let's see. If you want to take a look at the Pine Tree Capital thread I started in the silver miners forum that will link you to their site and their investments which I believe includes several uranium companies.

Also, if we can discuss what determines a good uranium deposit I would be grateful for that information as well.

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My Uranium Plays!

I have to admit, I got my nads kicked in when I had these when the whole Japan earthquake issue occurred, but it might be a good time to pick up the shares on the cheap.  China and India are still building a plethora of Nuclear Plants.

Denison Mines, Strathmore Minerals, Paladin Energy, Hathor Exploration, Fission Energy, Uranium One, Laramide Resources, Strateco Resources, UR Energy, Mawson Resources (Also huge gold results), Mega Uranium and Pele Mountain Resources.  I follow about 50 more but these are my top picks. 

With (USU)-United States Enrichment Corp.-USEC Inc. as my all around favorite if they get the DOE approval for their new plant the stock will take off.  They already have deals with China for enriched uranium contracts.

These companies have the largest (Total potential pounds) and best % grades of U308.  The % grade of the U308 is the most important when looking at a uranium deposit.

Strathmore is one of the largest holders of in-ground uranium resources in the United States and trades at $0.63 a share.

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I've been looking (again) at

I've been looking (again) at Extract Resources (trades in Toronto as EXT.TO and Sydney, I believe).  I had a small position just before the Japan earthquake and sold it for a small loss afterwards as I thought people wouldn't touch uranium miners for a while.  I agree that we will need more nuclear energy in the future, not less, hence my interest in this stock.

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Sold UEC, bought FIS

FIS will need to partner or get bought out to make something of their Uranium finds eventually. But they have lots of cash, and at a price below 0.50, looks cheap to me.

I still believe uranium stocks will do fantastically if one has an 18 month+ horizon. From current levels I mean 5-baggers-all-over-the-place fantastically, and much better better if you pick right.

In 2013 the agreements to recycle uranium from warheads is finished and 50 million pounds of uranium supply per year disappears. If memory serves current production is about 130 million pounds a year, but the world needs 180 million pounds.

Aother one I am waiting to get into (after some of my gold and silver stocks give me what I want) is Tournigan Energy, TVC.

Has a teeny tiny market cap but is sitting on more than 30 million pounds of uranium in a nuclear energy producing country.

So many of these stocks are facing PR issues relating to negative sentiment around uranium. But if we want to keep the lights on, we don't have the option of not using nuclear energy.

I like a lot of the picks mentioned above by Goldisthefuture. Uranium One just came out with fantastic profits this week. Might even buy some soon.

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Still only currently in one play but got my stink bids in

Oh man, so many choices. Tournigan, Rockgate, more FIS, and after this:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/9/3_Dr._Keith_Barron.html

There is u308 corp to consider too.

I'm torn between going for more of the high grade explorers unknown uranium regions (FIS in Athabasca), more speculative explorers run by competent management in hitherto unrecognized uranium regions (ala u308) and cash generating machines ala UUU. Just bugs me a bit that UUU has so many assets in Khazakstan, but it's ultimately owned by the Russians, and I don't see the Russians allowing the Khazakstanis to mess them around with regards to their mineral rights.

Most of my spec capital is in silver and gold miners and options in silver miners, but frankly I see uranium right up there in terms of supply and demand fundamentals ofer next 3 years, right after silver.

When the Megatons for Megawatts deal is finished in 2013 there JUST WON'T BE ENOUGH URANIUM TO GO AROUND. The emotional reaction to Fukushima (which has been a terrible disaster, a real tragedy, no denying it) does not mitigate the fact that, as Rick Rule says, if people want the lights to go on, they need nuclear power....

Let's evaluate some more companies here. Come on guys (and gals)!

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U308

I'm looking at it, but kind of wonder about their financials.  They don't appear to be generating income and lost a good bit in 2010 and even lost a bit before Fukushima (but looks like several uranium companies peaked in February).

Eric King, in his interview with Keith Barron, noted he himself had purchased a million shares in U308.  Barron is pretty solid in any case and I get the company is rather new too.

Anyone have any more insight/news/thoughts on U308?  And, anyone bought into them yet?

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BAN.TO

All I hold right now is Bannerman.  Sichuan Hanlong Group just tried to buy it for $.61/share recently but management said forget it.  I'd like to get back into Uranium Participation Corp. also but I'm pretty focused on PMs and energy at this point.

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Uranium supply demand graph from World Nuclear Association

I am still only in one uranium play, FIS.

Re: Rear Flank Downdraft: I really want to find uranium miners with great grades. I am interested in U308, but its grades don't pique my interest enough yet...

I still really like some of the others mentioned.

I found the graph below at the following link:

http://world-nuclear.org/info/inf22.html

There is more to the article and it's probably worth reading around their site if you are interested in uranium miners.

World Uranium Production and Demand

Interesting how mine supply has not been sufficient to supply world uranium needs for quite some time.

The Megawatts for Megatons program ends in 2013. I take this fact together with the condition that if the Chinese, Indians and Russians (and other smaller nations) don't abandon their plans for additional nuclear power plants, the uranium price should jump up significantly in two or three years. 

Mine production is expanding, but the additional new demand for uranium should be spectacular if all those plants come online.

Remember uranium is such a small input cost into the overall costs of nuclear power that the price of uranium could treble without nuclear operators noticing much.

I remain convinced that uranium plays, carefully selected and using stink bids, are great to tuck away and hold onto for 3-5 years.

We might not see the returns of '98 -'06, but it's always inspiring to remember what Rick Rule says about his experience with Paladin. He got Paladin at 10c, 12c and 1,5c if I'm not mistaken. Dunno what his average cost was but the share went to $10. I'm sure by the time they needed another financing at 1,5c most people who got shares at 10c were probably fed up and wouldn't have had the will to stick it out. I wonder how many of them got out as soon as they broke even. It's a good lesson about patience for those of us investing in gold and silver exploration stocks too.

The reason I'm wary of buying more right now is because I think if we have violent market corrections, uranium stocks will suffer. Even if gold and silver stocks do well in the volatility we will see ahead, due to sustained PM prices, I doubt that uranium stocks would hold up that well.

Having said that, I would imagine that if they drop too much more in price you will see a great deal more takeover attempts by Cameco, maybe even BHP Billiton (although BHP Billiton is only interested in huge "world-class" deposits so almost none of these juniors would interest them yet).

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@GDH

Good points and thanks for the production/demand link.

As we gain more distance from the event, it's interesting to note the freeze/thaw method of releasing the information of the exact nature and the extent of the Fukushima disaster will have on the U market.  Significant attempts were made at divorcing public opinion from associating the magnitude of Chernobyl with Fukushima (simply Google that and look at the dates of the news releases- mainly in March and April of this year).  While there are some differences, the scope of the disaster was far greater than any governing agency responsible for informing us ever let on.

There's a chance that continued subsequent revelations of "things-were-much-worse-than-thought" kind of reporting on the site will fall on worn-out ears....or at least, people may be looking elsewhere.  Or, such revelations could suppress these uranium stocks by stirring up more public outcry (such as this quasi-bone-headed declaration by Angela Merkel).

While energy-hungry Chinese and Indians  aren't going away, what all this means for market values is anyone's guess.  But it's hard to think of another market other than uranium that evokes such mystery and baseless fear. But it's what makes it quite fascinating for sure.

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One more to look at

Bought into Rockgate today.

Rockgate is exploring for uranium and silver in Mali.

Seem to have nice exploration results so far. Stock closed at 1.01 today, 52 week range is 0.70 - 3.72.

Check out their most recent presentation: http://www.rockgatecapital.com/s/Presentations.asp

Fast facts: over $40 million in cash with $110 million market cap. Decent intercepts of both uranium and silver (check the NI 43-101 in the presentation), have only explored 10% of Falea plateau. Management and directors include people from Minera Andes, MAG Silver and Pinetree Capital.

I certainly like the fact that they have lots of cash.

From a Sept 13 news release (not part of August presentation):

  September 13, 2011

Rockgate Discovers High Grade Extension to North Zone, Falea Uranium-Silver-Copper Project, Mali

 
1.21% U3O8 and 86g/t Silver over 4 m and 1.10% U3O8 and 1,020 g/t Silver over 1 m

Vancouver, B.C., Sept. 13, 2011 - Rockgate Capital Corp. (TSX:RGT) (the "Company") is pleased to announce that a new area of high grade uranium and silver has been discovered at the southwestern edge of the known North Zone with assay results of up to 1.21% U3O8 and 86g/t Silver over 4 m in hole DF-352. The results have identified a strong west-southwest trend to high-grade uranium and silver mineralization. Highlights of the program are presented in Table 1.

Table 1 Drill Highlights
Hole Name
From
(m)
To (m)
Length (m)
U3O8%
XRF
Ag
(g/tonne)
Cu %
DF-360
278.0
284.0
6.0
0.14
189.1
0.24
DF-358
273.0
277.0
4.0
0.19
375.9
0.18
DF-340
280.5
282.5
2.0
0.83
144.5
0.27

DF-343

281.0
283.0
2.0
0.64
513.3
0.51
incl
281.0
282.0
1.0
1.10
1020.0
0.94
DF-346
280.0
284.0
4.0
0.36
125.8
0.44
DF-352
271.0
275.0
4.0
1.21
86.0
0.47
incl
274.0
275.0
1.0
2.74
26.0
0.38

All reported intervals are true lengths.

Rockgate president Karl Kottmeier commented, "We are very excited to have discovered a second high grade area at the North Zone. Similar to the Plateau Edge Structure area to the north, this new southern area has spectacular grades of uranium and silver. This is a tremendous advancement and confirmation of our belief that additional high grade areas would be discovered within and immediately outside the North Zone."

That's the village of Falea and the camp nearby (camp is on the bottom left end of the airstrip, village is above the middle of the airstrip as you look at the photo).

Here's a pic looking over the edge of that plateau:

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Recent articles mentioning Rockgate, Fission, Paladin and others

Interview of a guy from Dundee securities (David Talbot) published in Dec 2011. Mentions Rockgate, Fission, Uranium One, UEX and the guy has some price targets in there.

http://www.theenergyreport.com/pub/na/11997

Here's an interview from the month before with another analyst, a guy called Rob Chang, who covers the uranium space:

http://www.theenergyreport.com/pub/na/11471

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Thanks..

Gareth wrote:

Interview of a guy from Dundee securities (David Talbot) published in Dec 2011. Mentions Rockgate, Fission, Uranium One, UEX and the guy has some price targets in there.

http://www.theenergyreport.com/pub/na/11997

Here's an interview from the month before with another analyst, a guy called Rob Chang, who covers the uranium space:

http://www.theenergyreport.com/pub/na/11471

.....for the links!

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U308Corp Big Move Up Today

Was up 28% at .45 or so....took a big chunk off the table for a nifty takeaway, which was refreshing in this environment.  Not seen any news on why such an uncharacteristic (of late) move up for U308, though.

Was nice to see most miners/jr's up today nonetheless.

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Mega Uranium - MGA.t

http://pennystockjournal.blogspot.com/2012/01/mega-uranium-ltd-mgat.html
 

Pages%2Bfrom%2BMega-Uranium-Corporate.jp
 
Mega Uranium Ltd.- MGA.t is advancing a number of projects.

The Ben Lomond project, in Queensland, Australia, contains an NI43-101 compliant Indicated Resource of 1.33 million tonnes @ 0.27% U3O8 (7.9Mlbs U3O8) while the Lake Maitland, located in the Eastern Goldfields area of Western Australia, contains 28.7 million tonnes @ 376 ppm U3O8 (23.8Mlbs U3O8).

imagesCA99GEFD.jpg

t?s=mga.to&lang=en-US&region=US&width=27imagesCAGWCPIF.jpgfrontpage1.jpg imagesCAMXG5OM.jpg

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More RGT

Purchased more Rockgate under $1. Got hammered with the troubles in Mali. Maybe it will go down a bit more, but I was happy to buy.

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Update on Mali and other stuff

Good news about Mali came out yesterday. Rockgate sent its expats into Senegal after sanctions were imposed on Mali. Remember Mali is landlocked, I imagined this means its easier for its neighbors to enact sanctions and prevent smuggling of fuel etc.

It would be unfortunate if mining taxes were raised under a new government, but this is the trend that is happening all over the world, and there was word this would happen in Mali.

For now, it seems like there might be a smoothish transition to a new election and new government relatively soon.

RGT bounced over $0.81 tomorrow on the news but settled back to $0.7. Very volatile. Shortly before the coup, there was good news of a newly discovered mineralized zone.

Don't know who is interested in this one, but I figured I ought to follow up my statements above with some news. I've pasted an update on the coup and the transition as well as drill results released earlier.

I just like continue to like Rockgate because its finding decent quantities of silver AND uranium.

News follows:

BBC NEWS:

Mali coup leaders to stand down as part of Ecowas deal

Coup leaders in Mali have agreed to stand down and allow a transition to civilian rule, as part of a deal struck with regional bloc Ecowas.

In return, the bloc will lift trade and economic sanctions and grant amnesty to the ruling junta, mediators said.

The move came after Tuareg rebels in the north declared independence of territory they call Azawad.

The rebels seized the area after a coup two weeks ago plunged the West African nation into political crisis.

Independence call

Under the terms of transition plan, military rulers will cede power to the parliamentary speaker, Diouncounda Traore, who as interim president will oversee a timetable for elections.

Once sworn in, Mr Traore would have 40 days to organize elections, the five-page agreement says.

The deal, signed by coup leader Captain Amadou Sanogo, states that Ecowas prepare for the ending of sanctions, but did not name a date for Capt Sanogo to hand over power.

"It will be necessary to organize a political transition leading to free, democratic and transparent elections across the whole of the territory," it states.

Officers led by Captain Sanogo seized power on 22 March, accusing the elected government of not doing enough to halt the rebellion in the north.

Earlier, international bodies rejected a call from Tuareg rebels for their newly named region of Azawad to be recognised as independent.

The secular National Movement for the Liberation of Azawad (MNLA) is one of two main groups fighting a rebellion in the north.

Ansar Dine, an Islamist group, has also made gains and has started to impose Sharia law in some towns.

Rights group Amnesty International has warned of a major humanitarian disaster in the wake of the rebellion.

Ecowas is preparing a force of up to 3,000 soldiers which could be deployed to stop the rebel advance.

France's Defence Minister, Gerard Longuet, said France could provide assistance to the force, including transport, Reuters news agency reports.

The Tuareg people inhabit the Sahara Desert in northern Mali, as well as several neighbouring countries and have fought several rebellions over the years.

They complain that they have been ignored by the authorities in the capital, Bamako.

Rockgate Capital drills 1.3 m of 0.43% U3O8 at Falea

2012-04-03 07:42 ET - News Release

Mr. Karl Kottmeier reports

AND THEN COMPANY RELEASE FROM BEFORE THE COUP:

ROCKGATE DISCOVERS NEW URANIUM MINERALIZED ZONE AT FALEA URANIUM-SILVER-COPPER PROJECT, MALI; 0.43% U3O8 AND 136 G/T SILVER OVER 1.3M

Rockgate Capital Corp. has discovered a new mineralized zone, the Northeast Plateau, immediately northeast of the high-grade North zone at the company's Falea uranium-silver-copper (U-Ag-Cu) project in Mali, West Africa. The discovery was made through systematic step-out drilling along projected mineralized trends during the fall 2011 drill program. The second hole of the program, DF-469, intersected 5.2 metres averaging 0.130% U3O8. Highlights of the program are presented in Table 1.

Table 1: Drill Highlights - Northeast Plateau

                From         To     Length      U3O8%         Ag         Cu
Hole Name         (m)        (m)        (m)       XRF   (g/tonne)         %

DF-469         191.1      196.3        5.2      0.130        5.7       0.02

incl           192.1      194.2        2.1      0.260        8.7       0.03

DF-488         199.2      205.2        6.0      0.064       10.8       0.19

incl           202.1      205.2        3.1      0.110       20.1       0.34

incl           203.9      205.2        1.3      0.230        7.3       0.15

DF-506         189.3      193.8        4.5      0.060        8.9       0.10

incl           192.5      193.8        1.3      0.166       19.9       0.09

DF-514         192.0      193.3        1.3      0.430      136.0       0.03

All reported intervals are true lengths.

The initial Northeast Plateau step-out drill program was completed between October 29th and December 8th, 2011 and consisted of 16 vertical diamond drill holes spaced on a 200-metre and 100-metre square grid. Coverage extends 400 metres north and 300 metres east of previous drilling. All 16 drill holes intersected mineralization, indicating that the zone remains open to the north and east. Since drilling resumed after the Christmas break, an additional 21 core holes have been completed on a 50-metre infill grid for future resource estimation and definition of controls to mineralization to the north and east. Four diamond drills are currently testing various targets outside the resource boundary, including Northeast Plateau.

Rockgate president, Karl Kottmeier, commented, "The discovery of uranium mineralization to the northeast of the main deposit at North Zone confirms our belief that mineralization extends beyond the current resource boundaries and that the potential to discover additional deposits is very good."

Table 2: Summary of Drill Results - Northeast Plateau

                From         To     Length      U3O8%         Ag         Cu
Hole Name         (m)        (m)        (m)       XRF   (g/tonne)         %

DF-464         200.0      202.3        2.3      0.037       20.7       0.48

DF-466         199.7      200.2        0.5      0.040        8.4       0.02

DF-469         191.1      196.3        5.2      0.130        5.7       0.02

incl           192.1      194.2        2.1      0.260        8.7       0.03

DF-471         198.0      199.0        1.0      0.002        2.2       0.39

DF-488         199.2      205.2        6.0      0.064       10.8       0.19

incl           202.1      205.2        3.1      0.110       20.1       0.34

incl           203.9      205.2        1.3      0.230        7.3       0.15

DF-491         192.4      192.9        0.5      0.067        4.6       0.35

and            202.5      203.6        1.1      0.026       61.0       0.68

DF-494         191.3      191.9        0.6      0.015        1.0       0.20

and            195.6      196.6        1.0      0.016        0.6       0.02

DF-496         201.3      205.4        4.1      0.033        5.0       0.10

incl           201.3      202.4        1.1      0.092        7.1       0.11

DF-499         201.4      205.4        4.0      0.024        3.8       0.19

incl           204.7      205.4        0.7      0.095        2.4       0.20

DF-501         202.4      204.1        1.7      0.057        2.7       0.09

               202.4      203.0        0.6      0.093        4.4       0.13

DF-504         187.3      187.8        0.5      0.047        3.0       0.38

DF-506         189.3      193.8        4.5      0.060        8.9       0.10

incl           192.5      193.8        1.3      0.166       19.9       0.09

and            197.3      198.0        0.7      0.052        3.3       0.06

DF-509         201.0      202.0        1.0      0.007        2.7       0.26

DF-511         195.7      196.2        0.5      0.050        3.9       0.52

DF-514         192.0      193.3        1.3      0.430      136.0       0.03

DF-516         191.5      192.0        0.5      0.063       10.0       0.12

and            197.2      199.2        2.3      0.014        1.8       0.02

2012 Diamond Drill Program

Rockgate's 2012 drill program comprises 4 diamond drills currently exploring several areas outside the current resource boundary.

1.  Northeast Plateau - to continue to expand and define this new area of
    mineralization.
2.  Bodi Area - to confirm and expand near-surface mineralization north of
    the Falea plateau with the aim of identifying potential open pit
    resources and access to underground at North Zone.
3.  East Zone/Kania South - to expand mineralization at East Zone and at
    Kania South, and test the corridor potentially linking both areas.
    Bulldozer trails and drill pads have been constructed over steep terrain
    south of Kania.
4.  Drilling is planned on various targets including the Northwest Extension
    of North Zone, Central Zone step-outs, and the Bala area. Also, a drill
    will be assigned to drill PQ holes around the deposits to collect
    samples for comminution and ongoing metallurgical test work.

Christopher J. Wild, P.Eng., Project Manager for Falea, is the Qualified Person for the Company under NI 43-101. All core samples are cut in half on site and sent to ALS-Chemex in Bamako for direct shipment to ALS-Chemex in Johannesburg, South Africa, for ICP-MS and XRF analysis. The company inserts a standard, blank and requests a duplicate sample be run in every batch of 20 samples. In addition, the lab inserts in-house blanks, standards, and duplicates with each shipment. Data that falls outside the control limits are checked and repeated as necessary.
 

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Any activity in Uranium plays?

Anyone care to mention what they are doing at the moment with their uranium plays? Did anyone buy UUU when it was much cheaper and sell it when it jumped up, for a nice profit? I didn't frown. Anyone following FIS? Price has come down somewhat.

Any others? Energy Fuels? UEC?

I didn't think it was possible, but some people think there is a high chance that things at Fukushima could get much worse if the spent pools collapse, which apparently is still possible. This would be a catastrophe for the people who live in Tokyo if it were to happen. If Fukushima did somehow experience a new disaster this would certainly knock all Uranium investments for a long time to come, and worse it would also make things even harder for the Japanese and many would have to evacuate, so I'm told. But, when it comes to predicting how things in Fukushima will play out, we have lots of opinions and and only time will tell who is right.

I, for one, am of the opinion that they will get it under control and prevent any further disasters but I'm open to the possibility I might be wrong. I also don't believe that the radiation from Fukushima will have any deleterious fallout effect on people living in North America or anything like that. My sense is that the worst is behind, but nevertheless it will take probably a few years for the Japanese to fully contain the plant, cement it in, do whatever they have to do. Just my sense of it.

There are more new reactors being planned for construction now in the world than there were before Fukushima. People need the lights to go on and people will need uranium for that to happen.

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