CUY curnamona energy limited

cuy hits the press : impending u308 producer

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    It's the news we all know, but now it's getting more attention -As an impending producer, CUY is now being mentioned alongside Paladin Resources, Laramide Resources, Mega Uranium, BHP Billiton, Rio Tinto and Nova Energy. - not bad company to keep.


    Uranium price surge
    March 30, 2007 12:00am

    THE uranium price has surged towards $US100 a pound, forcing analysts to re-think their forecasts for the nuclear fuel.

    Resource Capital Research produced its last report in December, predicting the uranium price would hit $US90 a pound this year.

    This week's update has uranium running to $US125 a pound in 2007 and as high as $US140 a pound in 2008.

    Flooding at Cameco's giant Cigar Lake mine development in Canada has contributed to the rise in the uranium price in the past few months, delaying production in an already tight market until 2010, with full production not expected until 2012.

    News that Australian producer Energy Resources of Australia had declared force majeure on some of its contracts due to heavy rain also caused a blip in the price.

    Uranium is in demand due to the growing popularity of nuclear power in a carbon conscious world.

    RCR's John Wilson says the World Nuclear Association has counted 48 new nuclear power reactors due for commissioning by 2013, including 13 in China and eight in India.

    The uranium boom has pushed the value of listed explorers in Australia up 23 per cent in the past three months, according to RCR, and up 122 per cent in the past year.

    And they are expected to soar to new heights next month, with the Labor Party widely expected to overturn its controversial three mines policy.

    RCR expects those companies with projects in Queensland and South Australia to benefit most from the change in policy.

    Among those that RCR expects to gain advantage are Paladin Resources, Laramide Resources and Mega Uranium in Queensland and BHP Billiton, Rio Tinto, Nova Energy, Mega Uranium, Paladin and Curnamona in South Australia.

    RCR says Curnamona Energy could begin testing at its Oban project later this year with government approval.

    The renewed popularity of yellowcake has also seen consolidation in the sector, with RCR noting the emergence of a new "senior tier" of companies through organic growth and mergers and acquisitions.

    Paladin has become an aggressive acquisitor in Australia, and SXR Uranium One and Denison Mines have launched takeover bids overseas.

    Meanwhile, RCR says a growing number of junior companies are moving into mid-tier market capitalisation.

    Potential investors should seek professional advice before buying shares to determine whether such action is appropriate for their investment objectives and financial situation.
 
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