Uranium stocks in Australia
A paragraph of article fm the newspaper "The Age" today.
The miners should be the long term winners and better than the other
general mining companies. Supply is far less than the demand.
The channal to buy Australian mining companies should be thru
eBanking of Australian brokers, or thru ADR fm American stocks.
----------------------------
Spot prices for uranium have risen to $US72 a pound, which is double the price at the start of 2006. The price has risen because of the prospect of an undersupply in the medium-term as nuclear power becomes more accepted because of its ability to help mitigate global warming. Paladin Resources and Energy Resources of Australia (ERA) are the only two listed uranium-only producers in Australia, but almost 100 companies claim to be involved in exploration. Paladin and ERA shares have made impressive gains in 2006, but several explorers and prospective miners have outperformed, with Alliance Resources shares rising by 1,046%, and shares in Nova Energy gaining 333%. The World Nuclear Association has forecast that uranium demand could increase from 65,000 tonnes in 2006 to 111,000 tonnes in 2030
