In my opinion. To answer carlosjackal, here's why I think that:
1) supply/demand issue. many different numbers out there. Here's one summary "There are over 60 nuclear power plants under construction today. In 2011, 143 million pounds (143 Mlb) of uranium were produced worldwide. Globally, 165 Mlb of uranium was consumed. The difference between consumption and supply was provided by the decommissioning of Russian nuclear warheads pursuant to a 1993 treaty, which expires at the end of 2013. Globally, utilities are looking to find new sources to provide uranium that they're going to need for the next decade and beyond."
2) to meet additional demand, price of uranium needs to be $80 (in general) before new mines pursued. As spot price goes up, so will UECs bottom line and share price.
3) Africa, site of several producing mines, is becoming a hotbed of terrorist related messes. France is already having military support at some of their mines for saftey reasons. I wouldnt be suprised if they shut down.
4) Japan's gonna come back on line sooner rather than later. Energy prices are too high and are adversely impacting their economy. No doubt they are paying attention to Germany and Bulgaria.
5) Take a (serious) look at Bulgaria and what led to their current issues. Draw your own conclusions.