GREY:UEXCF - Post by User
Post by
northern-ehon Oct 14, 2008 1:13pm
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Post# 15524684
Time to buy? - bought back in
Time to buy? - bought back inI sold UEX north of $4 some time ago. IMO, the current market price is unbelievably and ridiculously low, so I'm back in.
Why? I have confidence that AREVA is likely to open a new mine at Shea Creek. The French need new sources of uranium to keep their power plants going; their appetite for uranium will not disappear. UEX owns 49% of the project. Will AREVA and UEX go into a joint venture on the mine? Or will AREVA buy out UEX's interest in the project? Either way, I'm expecting a dramatic move up in the share price with positive news.