the issue, and its a real problem for the industry at the moment, is that its state regulated. heck, ya can't even explore for uranium in NSW, let alone mine for it. so whilst SMM, and even RPT and PNN and MTN and a host of others have absolutely fantastic mine sites, great assets, they are all great. They cannot turn a single gram of it into money, the current state laws do not allow for this.
Whats worse, the WA and Qld premiers have both reiterated recently their anti-uranium stance. Not so sure about SA, they seem a bit unclear. But until their stance changes, or it beomes a Federally regulated industry, i don't care how big the resource is in the ground. Its off limits until the law changes.
like being at sea with no fresh water ... water everywhere, but not a drop to drink. same with uranuim ... they've all got plenty of it, but can't take a single spade of it out of the ground to sell.
the problem is, by the time this is has changed .. the others who CAN dig up their uranium .. the PDN's, the EXT's, the AEX's, the ARU's ... will already be digging up and exporting (making money). PDN have already got a contract to sell and will be later this yr. EXT probobably won't be far behind (perhaps 12 months). I reckon EXT's price should absolutely rocket in the next 12 months .. will see it at $1.50 or more (making the assumption they manage themselves appropriately.
its a conundrum!!
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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