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Mega Uranium Ltd T.MGA

Alternate Symbol(s):  MGAFF

Mega Uranium Ltd. is a Canada-based mineral exploration and development company. The Company is focused on the acquisition and exploration of uranium prospective properties. It has exploration stage mineral resource properties in Queensland and Western Australia and investments in uranium-focused companies. It also holds interests in junior and medium-sized uranium exploration and development companies, royalty and diversified uranium holding companies, and its own exploration and development projects. The Company’s project is Maureen Uranium-Molybdenum Project, which is located approximately 32 Kilometer (km) away from the small regional hub of Georgetown, located in Northern Queensland, Australia. Its subsidiaries include Maple Resources Inc.; Uranium Mineral Ventures Inc., Mega Georgetown Pty Ltd., Mega Hindmarsh Holdings Pty Ltd., Mega Redport Holdings Pty Ltd., Monster Copper Corporation., Nu Energy Uranium Corporation, and Northern Lorena Resources Ltd.


TSX:MGA - Post by User

Bullboard Posts
Post by notBuffeton May 05, 2014 12:07am
194 Views
Post# 22523442

U spot dying

U spot dyingU spot down to $30.05; lowest it's been in 9 years with little reason for it to stop the slide. The below mentioned table shows you sustainable Uranium spot prices well below $20 from before 2005. All this talk about the current spot price being above the cost of acquiring the resource is nonsense, the stuff of fables; a MASSIVE con played by the industry on just about every investor. Were companies working on a voluntary basis out of the goodness of their heart before 2005 or could they turn a profit at a $15.55 spot (as they did in Jan 2004... it was MUCH LOWER before that). See historical monthly spot price at https://www.cameco.com/investors/markets/uranium_price/spot_price_complete_history/ Fuel prices, salaries and cost of living, they have all gone up. BUT, the ridiculously high grades being mined by the big players MORE than offset this. They can make plenty of money at even lower spot prices. It's the U bubble which spawned all of the juniors out there who found low grade mines and fooled investors into thinking they were worth something. Those companies are currently receiving Darwin awards and are dieing off. Additionally, there are reactors being decommissioned in North America. The NAIL in Uranium's COFFIN; all the hope pegged on the nuclear reactors being planned in China, well, you might want to watch this video about all the "Ghost Cities" being built in china; with hardly anyone living in them. https://youtu.be/GpnoPhY1f70 I'd sign off with the old "do your own due diligence", but with mainstream media typically being polluted by industry insiders, it's next to impossible to.
Bullboard Posts