Last Updated : 15 March 2012 at 18:35 IST
Uranium demand is increasing as nuclear energy is back in favor
The demand for Uranium is increasing, despite Japanese nuclear disaster, and countries will continue to depend on Uranium to meet their energy requirements, says Sasha Cekeravac, co-editor of Penny Stocks Detectives.
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NEW YORK(Commodity Online): The demand for Uranium is increasing, despite Japanese nuclear disaster, and countries will continue to depend on Uranium to meet their energy requirements, says Sasha Cekeravac, co-editor of Penny Stocks Detectives.
In a recent article, Cekeravac says the U.S. is now proceeding with building the first nuclear power plant in over 30 years, while Japan, China, and India have not slowed down their significant investments in uranium which supports the statement that countries need uranium to meet their energy demands.
Cekeravac says that the Japanese nuclear disaster caused the investors to sell off their uranium shares, but they need to reconsider this beaten-down sector.
The article points out that Cameco,world's largest uranium mining stocks, recently announced that it would be expanding its uranium reserves by buying a major piece of a Canadian uranium mine. The mine is called the Millennium project; it’s not yet in production, but is only a proposed uranium mine. This project so far has an estimate of 50.9 million pounds of uranium as indicated resources, with 16.7 million pounds as inferred uranium resources.
Cameo believes that future demand will be rising and is actively looking for more uranium resources. A lot of money can be made by getting ahead of the curve, says Cekerevac, looking for mining stocks that are trading as penny stocks in the uranium sector.
Denison mines is the interesting one among the uranium penny stocks , according to the article. This company explores for and mines uranium mainly in Canada and the U.S. Unlike some of the smaller mining stocks, Denison also has some exploration properties in Mongolia and Zambia.
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