Wednesday Aug 09, 2006

Yellowcake "gold rush" -- this uranium stock could run tenfold by the next election

Taipan Group's Dynamic Market Alert

-- Yellowcake “gold rush” -- this uranium stock could run tenfold by the next election  

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Yellowcake “Gold Rush” -- This Uranium Stock Could Run Tenfold by the Next Election
by Christian DeHaemer

Oil stocks have been on a run for the past five years as the price of oil has doubled. But most people -- especially those who don’t live in Australia -- have missed an even bigger run in uranium. The price of uranium has gone up 1,400%.

The truth is, that in terms of rarity of resource and growing demand, the uranium used in nuclear reactors is a better bet.

China is building 26 new nuclear plants for electricity production. There are 180 new nuclear-power reactors proposed or planned worldwide. Add that to the current 241 nuclear-power reactors now in operation and the number of nuclear plants will increase to 400 by the year 2012. 

All of these turbines will devour uranium or yellowcake. And that rare commodity is only found in a few places -- most notably Australia.

The death of the greens

Australia recently signed a free trade deal with China -- which, in conjunction with China’s World Trade Organization status, means that Australia will supply China with yellowcake.

There is a slight problem, however, because during the past 30 years environmentalists have imposed restrictions on new yellowcake mining. Needless to say, with the price of uranium going from $3 to $45 in the past three years, there is a great deal of pressure to overturn these laws.  There are many “experts” calling for $60 uranium next year.

Yellowcake for all

And in fact, Labor leader Kim Beazley last week pushed to overturn the party’s ban on new uranium mines.  He said he wanted to change Labor’s hard-line stance on uranium mines, which was introduced in 1984 to confine Australian uranium production to just three mines.

The three big uranium miners are Toro Energy, Paladin Resources and Uranium Exploration Australia. But I’ve found a small company ($1.30) that is currently growing earnings due to its copper and nickel production. However, it is also sitting on 20 times its market cap’s worth of yellowcake that it owns under Mt. Isa. Yet it is unable to unlock this $20 billion treasure trove due to current laws forbidding it to mine…

Click here to learn more...

Yellowcake gold rush

Just like the United States, which recently overturned laws regarding offshore drilling in the Gulf of Mexico, Australia’s politicians will rescind the environmental laws regarding yellowcake for a cut of production in the form of taxes. Most likely, they will add some whitewash regarding improving schools or working mothers (do it for the children).

This new outlook has sparked “gold rush” in yellowcake.  Hedge fund and investment houses around the world are looking for uranium projects in Australia.  One group of investors is looking to organize a $100 million float on the Hong Kong exchange to capture the excitement in China caused by its plan to build 26 new nuclear power reactors.

There has also been a flurry of uranium-based IPOs in Australia, including a $5 million enterprise by Venture Minerals and a $15 million IPO by Eromanga Uranium.

According to The Australian, “In April of 2007 the Australian Labor Party conference is likely to endorse a plan by leader Kim Beazley to ditch the three-mines limit that had been imposed by Bob Hawke’s Labor government.”

Time is running out.  The greens are on the ropes.  Voters go with their pocketbooks, especially when the possible negative effects of mining are 2,000 miles away in the sunburned Outback.  Like Jerry Brown and Al Gore, there are Australian politicians who will take the green cause to their political grave.

Window opened on new mines

The time to load up on Australian uranium is now. The next election is coming fast. Greed has replaced fear in the outback. The profit opportunity is banging its proverbial fist against the gate of caution.

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