Fool proof strategyWhen it comes to uranium juniors, I have a few favorites including URE. Right now URE is the most undervalued, so I just topped up my holdings.
"The unaudited cash and cash equivalents and short-term investments as of December 31, 2008 were approximately C$65 million"
Less than 100 million outstanding shares - so anyone getting in at these levels is buying at around cash value I'd think. You'd be crazy not to buy some. My current buying strategy is to buy the best juniors that have ample cash on hand as to avoid huge diluation at low share prices. URE has enough cash to last until we can survive on production cashflows. By then the share price will be much higher (look back historically, URE is super-cheap right now compared to where it has been in the past, even though we're closer to production and have tons of cash)
Throw in a uranium spot price rally and we'll be all set for some great gains.
Can't go wrong when you buy high quality undervalued companies. URE is the most undervalued, and there's no reason for it other than market fear and stupidity.