more news on uranium saga - i find it useful

Generally uranium investors have suffered some serious damage today. In almost all cases, there was a huge number in the sell queues with buyers scarce. If there is any bounce in the uranium sector, those who bought today might prove to be the smart ones. On the other hand, the sector could be in the doldrums for months or years. As anyone who was around at the time will recall, the 1970s had seen large numbers of companies exploring for uranium in Australia. Then the release of uranium from weapons programs (on the back of Three Mile Island) saw the market price plunge and all the explorers packed up and left.

By early afternoon, indeed, we saw some stocks come off their lows. WildHorse Energy had plunged to 38c, but after lunch managed to scrape back to 44c, a 12 per cent decline.

Energy Resources of Australia fell 10.5 per cent to $8.41 while other sharp declines included Paladin Energy (PDN) down 13.5 per cent to $4.09, Manhattan Corp down 16.2 per cent to 88c, Uranium Equities down 23.3 per cent at 11.5c and Toro Energy suffered a 19.2 per cent hit to take it to 10.5c.