The reason why I am making this post is that I know nothing about Uranium except for the obvious. Maybe someone here knows who mines it, how its traded, etc. What are the plays? The following chart should make it fairly obvious as to why I am interested.
The world's largest single uranium deposit is located at the Olympic Dam Mine in South Australia. Australia has the world's largest uranium reserves â 70 percent of the planet's known supply.
http://stockcharts.com/h-sc/ui?s=CCJ&p=W&b=1&g=0&id=p24764707925 http://stockcharts.com/h-sc/ui?s=CCJ&p=W&b=8&g=0&id=p40160536899 Wow. This chart appears to be like Hansens. Seriously, it looks like Im a little late to the Uranium party. I looked up Rio Tinto and it looks about the same. Someone was bearish on this stock from May up until a few days ago. Whats up?
CCJ was the play. Also an Australian company, forgot the ticker, but they got bought out cheap early on. Rio Tinto is too diversified. Uranium is just piggybacking oil and the French who love nuclear power (check out Areva). Also demand for electricity with supply lagging. I personally find it sad, the idiocy of people. It's unfortunate but the only way people will learn is another nuclear disaster (as if enough haven't happened already) The real scary and most likely scenario is that it won't be for generations when the mistakes will be obvious. I'm talking about the leaks, but hey, thats our grandchildrens' problem.
Amazing how distortion can change the look of a chart. Compare the Yahoo chart to the StockChart. StockHouse (3 year) Yahoo Charts (2 year)
the commodity is traded the same way currencies are, no regulated market, true "over-the-counter" most of the stocks are traded in Canada, here are a few... URE.TO U.TO (sort of like an ETF) AXU.TO MGA.V LAM.TO UUU.V PDN.TO CCJ (US side, biggest player) TXM.V SXR.TO That should be enough for now.
http://www.preciousmetalresources.com/canadian/uranium/marketcaps/ This is a list of all the Canadian companies trading in that country. (It's too bad that HydroBlunt is a tinfoil hat wearer. You need to wake up to reality and stop reading so much enviro-whacko propaganda. The sky is not falling, contrary to unpopular opinion.)
Comeco (CCJ) is a good play if you are comfortable betting that Cigar Lake project is going to be fixed. The stock trades relatively cheap (largely because of the Cigar flood). The downside is limited because without Cigar Uranium is going to go up which is good for CCJ due to better margins from other mines.