oversold, page-14

IMO there will be a bit of a selloff of Aust U stocks as the more risk-averse get out just in case the three mine policy stays in place. (Lets not forget this is politics and dirty deals are done to obtain political favours - they may sell out to the left factions for concessions on other policy - just look at the ex-democrat leader and the GST that they would "never support".

There will be bargains to pick up about that time or even on that day if results are due during market time. There may also be opportunity to pick up some Aust U cheap immediately after policy changed if prices to fall significantly, because lets face it, Aussie U stocks are going to absolutely fly to 2-3 times current prices over the month or so after a favourable decision, and if you can buy at 2/3 of current prices at or about the time of the conference you can get safe 3-4 baggers in a couple of months.

This is my opinion IF the position doesn't become clear in advance of the meeting (occurs 27th to 29th April for those who don't know - not sure when the U policy will be thrashed out though).

One thing that concerns me is this from the draft resolution for the ALP conference found here:

http://www.alp.org.au/download/now/draft_national_platform_to_44th_national_conference_april_2007.pdf

And is as follows (directly from document):

Uranium
84. Labor recognises that the production of uranium and its use in the nuclear fuel cycle present
unique and unprecedented hazards and risks, including:

threats to human health and the local environment in the mining and milling of uranium,
which demand the enforcement of very strict safety procedures;

the generation of products which are useable as the raw materials for nuclear weapons
manufacture, which demands the enforcement of effective controls against diversion; and

the generation of highly toxic radioactive waste by-products, which demands permanently
safe disposal methods not currently available.
85. Labor, accordingly, will not allow the mining and export of uranium except in limited
circumstances, and under the most stringent conditions, as described below.
86. In relation to mining and milling, Labor will:

prevent, on return to government, the development of any new uranium mines;

ensure that the first consideration for workers in the uranium industry is the protection of
their health, and constantly check health protection standards to ensure that they are
adequate and properly enforced;

establish a mechanism for ensuring as a matter of course the application of world best
practice standards in Australian uranium mining and milling, based on extensive
continuing research on environmental matters and on the health and safety of employees
and affected communities;

ensure, through public accountability mechanisms, that the Australian public is informed
about the quality of the environmental performance of uranium mines; and

foster a constructive relationship between mining companies and Indigenous communities
affected by uranium mining.
Chapter Five Australian Labor Party 44th National Conference
Draft National Platform and Constitution 2007
52
87. In relation to exports, Labor will:

allow the export of uranium only from those mines existing on Labor’s return to
government, and only to those countries which observe the Nuclear Non-Proliferation
Treaty (NPT), maintain strict safeguards and security controls over their nuclear power
industries, are committed to non-proliferation policies and have ratified the international
and bilateral nuclear safeguards agreements necessary to support these controls and
policies;

reserve the right to withhold supplies of uranium permanently, indefinitely or for a
specified period from any country which ceases to observe the non-proliferation
safeguards and security conditions which are applied to Australian uranium exports to
that country, or which adopts nuclear practices or policies inimical to further advance in
the cause of nuclear non-proliferation; and

support the maintenance and enhancement of international and Australian safeguards to
ensure that uranium mined in Australia, and nuclear products derived from it, is used only
for civil purposes by approved instrumentalities in approved countries which are
signatories to the NPT and with whom Australia has safeguard arrangements.
88. In addition, Labor will:

vigorously oppose the ocean dumping of radioactive waste;

prohibit the establishment in Australia of nuclear power plants and all other stages of the
nuclear fuel cycle;

fully meet all our obligations as a party to the NPT; and

remain strongly opposed to the importation and storage of nuclear waste that is sourced
from overseas in Australia.