It's the price of the commodity combined with fears from investors on the tax issue being litigated this fall. Doesn't have a darn thing to do with technical charting.
I don't know where you all go for the latest industry news on nuclear but the place to be is:
wwwdotu3o8dotbiz they seem to have the latest feeds on news and spot research.
As long as the Russians reselling Iranian UR and Kazakhstan's seemingly endless high volume supply cannot keep up with all these new reactors coming online we should see a tipping point where companies like URG can thrive. At least URG and even CCJ are cutting production in here and URG instead of massive new floats to survive is battening down the hatches and cutting Capex going forward. With LT contract pricing now around $40 URG averaging $50 through 2021 with about 600,000 lb/yr is going to be a survivor. IMOP Klenda and friends are trying to prop up the pps during this period to fend off a fire sale buyout which I think is coming should prices remain in here another 12 months. Hopefully long term investors will not be enticed for pocket change when that, or multiple offers come. When you look at the capital it would take to get a company off the ground into the same place as URG is today and they have a market cap under 100 M? the risk is clear. The lowest production cost of any publicly traded company in the world.
Yup.....huge victory actually. Abe could push these restarts through at a much faster pace if he chooses to and he certainly should. The Japanese people cannot seem to overcome fear and desperation to make the right choice and salvage hundreds of billions in the countries assets. My Gosh...more people are hurt annually sky diving.
Markets soaring, reactors getting added all over the world and we are going....nowhere?
The worst thing we could possibly do is sell right now. But it's difficult to sit here.
That URG is holding up fairly well in here considering the current UR market.
What some of you may not know is Klenda and friends have been promoting URG to NY investors for the past few weeks. I don't have a lot of detail but I think those of you hoping to load up under 40 cents are probably out of luck. Anything that causes a spike in spot prices over the next 12 months will see us rally pretty hard from here imop. Of course...that may not happen.
Iv had enough of that book. I highly recommend you read "Tunnel In The Sky" and for a real cool soviet Era treat one of my favorites is Farnham Freehold. A radical book for its time. There are a few others but those are must read.
I'm assuming that's a joke. If some group ever develops a lighter weight, high capacity, safe, rechargeable storage system using common elements that is affordable it's a world changing event. In 50's sci-fi Robert Heinlein had a story about it and it was called a "Shipstone". Musk is my kind of guy. Bold, forward thinking and willing to take enormous risks for what he believes in. My guess is he will land a human on Mars before these knuckle heads at NASA do it in anything other that a Hollywood film. The merger with Solar City makes perfect sense and why not do it when Tesla stock is soaring and Solar City is in the dirt?
I disagree about Musk...he will be seen as a huge player historically.
I think you should get in the UR space...you waited long enough...could mark the turning point.
Have you gone off your cracker buddy? Insiders pushing UUUU off the Russel? Really?
All you need to do is take a look at fundamentals globally, currency issues, UR pricing, LT contract pricing, EF capex and debt, lack of volume LT contracts...on and on. It's a $2.00 stock until fundamentals change and Antony and his buddies show real concern for limiting the float during this tough period. We can check back in when spot is at $40 and LT pricing is at $60, not an impossible scenario and in this sector it can occur quickly. problem is, no one knows when.
It depends on your time horizon. 10 years out they may have an impact and the theory and technology is exciting but I think most of us are looking to recover on this investment in a much shorter time horizon. Hence the lack of excitement. Everything is pointing to a new look at nuclear power from a perspective of government investing and planning but many countries still do not get it. Obama is obviously anti-nuke and dreams of solar panels and windmills. If he had any sense he would be extremely bullish on safe nuclear power as it follows his view on the upcoming apocalypse caused by global warming. I don't even want to get started on the nonsense coming out of Japan where they will allow hundreds of billions in assets to rust. Do you think it's a good idea to let these plants and all their equipment to sit idle for years? I can tell you it's a really bad idea and will affect every delayed restart when and if they come. Germany? The best engineers in the world walking away from Nuclear? Firing up coal plants instead? This is going to come together because there are too many forces in play for it not to but NO ONE can predict when. Sharing commentary on these boards helps us pass the time but that's about it. I am focusing on growing and strengthening my other investments while I wait, it's at least something positive I can control.
I'm not a big seeking alpha fan but this is a comprehensive article and very powerful argument for URG. Klenda should go on the road with this information to investors. I still consider URG a very strong contrarian buy with potential for a big upside in the medium term.
OC, Unfortunately these articles and prognostications mean little or nothing. We have seen this type of article a hundred times for the last 2 years. Motley has been pumping CCJ weekly for a year now. So yes, all of us longs and a boatload of analysts want UR to recover. The volumes sold on the spot market are relatively low but they have driven LT contract prices down to near $40. The utilities are playing a game of chicken and until demand picks up seriously with renewed contract demand nothing much is going to happen. URG is doing what it can by going into bunker mode and conserving assets and minimizing capex. URG and a few others are a good medium term story and can survive this, we will just have to wait it out.
Its an unsecured loan convertible to stock. Apparently at a much higher stock value, i'm assuming EF expected their stock to be worth a lot more when this loan term ends early next year. They are trying to amend the terms of the loan, extent the term or refinance it to pay off the principle. They may be able to pay off a portion of it at it's current trading value as well...all in all it's not good.
Holding up surprisingly well considering where spot is trading
Antony over at UUUU seems to be pumping the same news releases to keep up the pps.
King bullish on UR? Perfect
Bought a few of my personal trading shares back yesterday...silly me
Trading up 12% post market...going to 2 bucks in 3 months
just ask Jetti :-)
By the way...where is that chuckle head, I miss the Japan updates.
May his pencil stay sharp and his sump pump stay primed.
I guess it doesn't really matter much the cause, getting these stocks out of the toilet every few months is a good thing.
I don't think it was day traders ski. My conspiracy theory is Chinese investors. Now it's dropping back like a fat girl on a skinny bungee so we will have to wait it out. I reiterate my view that if Klenda can't get the pps over a Dollar by EOY we are getting taken out. You heard it here first.