NEW YORK, NY--(Marketwire -07/25/12)- After an unexpected strong start to 2012, uranium stocks have fallen hard in recent months. The Global X Uranium ETF (URA) is down more than 30 percent over the last 6 months. Despite the fall uranium stocks look to be on the upswing as Japan has finally begun to restart their first nuclear reactors since the Fukushima disaster. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Denison Mines Corp. (DNN) and Ur-Energy Inc. (URG) (URE.TO).
Earlier this month, a Japanese pro-nuclear governor won a new term by a large margin. The gubernatorial race was the first election following Japan's restart of their first nuclear reactor. The vote showed that despite facing major national opposition to nuclear energy, rural prefectures in Japan are dependent on nuclear reactors for jobs and subsidies.
"Even if the national government eventually phases out nuclear power, the Sendai plants are an important part of the energy equation today," said Hiromi Imaya, a deputy campaign manager for Gov. Ito.
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Denison Mines is a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia. As well, Denison has a 22.5% ownership interest in the McClean Lake uranium mill, located in northern Saskatchewan, which is one of the world's largest uranium processing facilities.
Ur-Energy is a junior uranium company currently completing mine planning and permitting activities to bring its Lost Creek Wyoming uranium deposit into production. Permitting also will allow the construction of a two-million-pounds-per-year in situ uranium processing facility. Engineering for the process facility is complete and mine planning is at an advanced stage for the first two mine units.
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