At times like these it is essential to step back and consider your investment carefully and make solid decisions about your strategy. Next weeks trading (depending on when the assay results are announced to the market) will, without doubt, include an element of tree shaking as large investors look to jump aboard at the lowest price possible. This is when I like to consider the fundamentals and set some target prices :
Price per share = .037 Current MC = 10,549,631 Shares on issue = 285,125,188
Now lets look at Consolidated minerals (manganese operation)
At their woodie woodie operation they have discovered manganese at grades of 47.4% and discusses the benefits of manganese at these grades :
'Woodie Woodie mine, which produces high-grade manganese ore of superior quality...Production in 2009 was 961,000t @ 47.4% Mn, with a capacity of 1.2mtpa of high-grade lump.. .The high-grade lump produced by the mine is an ideal blending material...is very low in phosphorus. Furthermore, the lump is hard, has very low degradation and high thermal stability.'
Another company Montezuma Mining Company (MZM) have spoken of 12.49% Mn from 3m & 15.41% Mn from 22m.. MZM deem these to be 'commercial grades' MZM have had very low CF's for the half year to Jan 2011 and yet command a market cap of $33 million (obviously other factors considered)
If URA can achieve grades above 30% with plans to fastrack production we are looking at a market cap of $30 million easily IMHO and a share price of around 11-12c..
i wont be selling mine for anything less if the grades are as i expect...
URA Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held