Lundin refreshes Energy Fuels buy 2016-12-30 21:17 ET
Lundin refreshes Energy Fuels buy
2016-12-30 21:17 ET - In the News
Brien Lundin, in the December, 2016/January, 2017, edition of the Gold Newsletter, refreshes his buy of Energy Fuels Inc., recently $2.40. Mr. Lundin said buy three times from October, 2015, to October, 2016, at prices ranging from $2.15 to $3.70. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $2,596. Energy Fuels is developing the Canyon project in Arizona. The main metal at Canyon is uranium, but in October the company discovered high-grade copper in the second level of the underground deposit, with an average grade of 8.75 per cent copper over 313 feet. Such "eye-popping" intersections could significantly improve Canyon's economics, says Mr. Lundin. He expects a revised resource estimate for Canyon in the first quarter of 2017. Over the longer term, Mr. Lundin is optimistic that U.S. president-elect Donald Trump will prove a friend to the nuclear industry, likely leading to improved uranium prices. Canny investors should take advantage of the current bear market to build their position in Energy Fuels, a company with "the perfect strategy to leverage higher uranium prices," says Mr. Lundin. The stock is a buy at today's levels.