down again, page-2

UTO has quality assets in terms of its mineral resources and its exploration program. Their best deposits are in WA where uranium exploration is permitted but mining is under administrative bans. Add to this the "downturn" in the uranium spot market and the bears in the market. The "downturn" is interesting because my understanding is that virtually all Australian uranium is sold on long term contracts and these have remained buoyant.

My UTO holdings look pretty sad right now. It just goes to show that no matter how much you love your stocks, they never love you back.