Ouch! While I was not expecting the price to contuously rise (in fact I still trade some of my shares attempting to hit highs and lows), this drop with the price of uranium holding seems to be overblown.
I am hopeful that the conference call next Tuesday removes some of the uncertainty that might exist. I am also hopeful that the Austrailian deal closes without having to be amended. Leigh has some explaining to do but it is a given that NXE has to raise significant capital to cover the cost of construction. What they are doing now provides a solid base that will offer some peace of mind to other lenders. It will also fund further exploration operations. Of course there is a lot to get through still but the company IMO is better off today than it was 6 months ago.
I sold some shares both times we hit new yearly highs (not at the peak btw) and used those funds to buy back more shares on Wednesday and again today. The drop in both cases though exceeded my expectations and we are still floundering this afternoon.
I remain commited to NXE through the Federal permitting process and then I will reassess whether to hold on to a portion of my shares for the longer term. More likely I will because in 4 years this stock should be a major.