Uranium Explorers Post Surging Revenues on Improved Demand
The Bedford Report Provides Analyst Research on First Uranium & Denison Mines
NEW YORK, NY--(Marketwire - February 14, 2011) - In a familiar theme, demand for uranium is being driven by China, as its government is planning ahead for significant expansion of its nuclear sector. UxC forecasts say that China is in the process quadrupling its uranium consumption to 50 to 60 million pounds a year. Moreover, China, itself, says it plans to build 10 nuclear power plants a year for the next decade. At the moment China operates 11 reactors, and has 28 under construction. The Bedford Report examines the Uranium Industry and provides research reports on First Uranium Corporation (TSX: FIU) and Denison Mines Corporation (TSX: DML). Access to the full company reports can be found at:
www.bedfordreport.com/2011-02-FIU
www.bedfordreport.com/2011-01-DML
According to the Global X Uranium ETF which was starter trading late last year, uranium provides about 16% of the world's electricity. Uranium bulls believe that the radioactive element is a clean resource alternative for electric generation. One pound of uranium can generate as much energy as 20,000 pounds of coal, and leaves behind a fraction of the carbon footprint.
Indeed, vice-president of the China Nuclear Energy Association, Zhao Chengkun, stressed that nuclear is the only energy source that can be used on a mass scale to achieve the nation's goal of developing cleaner, low carbon energy.
The Bedford Report releases regular market updates on the blossoming uranium industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
With uranium prices surging, investors have turned their attention to the uranium explorers and producers. Investors in uranium miners are banking on rising earnings, as uranium prices rise, to provide value. In its most recent earnings call, First Uranium said that its revenue for the three months ended December 31 increased by 60% year-on-year.
Last month Denison Mines said that it will cut uranium production by 17 percent in 2011, and focus on exploration. The company says it aims to boost production to at least 10 million pounds a year by 2020.
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