RE: Some down to earth info pleaseActually quite a bit of experience. In short form I mostly trade real miners with earnings. I have done quite well in the last years with gold and copper. Recently my phone has been ringing off the hook with tips.
Usually this means a top but I figure an old pattern will repeat. The penney stocks will get hot and some incident will cause them to fall sharply then there will be a suckers rally which will give us time to bail and then they will drift into oblivion. Seen this with Voisey Bay, Bre Ex, the diamonds and of course 2000.
A little reality.
Uranium is $120/lb and until it goes to $250 the bankers will value it at a 30% discount. We are now in drilling season and I am hoping the stock gets hyped into a good drill result. I sell 3/4 of my position at his point and let the rest ride if there is a chance of a find.
If they do have a major find they will need to make a deal with a real company to build a mine. Consequently they sell out at a 30% premium, which is not bad for a day of work.
So, I will be happy with $1.80 for the first load and $5 would be incredible for the balance. Even if $60 is possible it will take years.
Good luck