i just read a report from Far East Capital regarding the U...

i just read a report from Far East Capital regarding the U sector and it had a write up on Uran which i thought might be of interest. The report rates URA's quality as fair and value as inexpensive.

this is what the report says:

At this point Uran's main projects seem to be Surskoy and Gurevskoye in the Ukraine. Early in April 2008, it was announced that Government approval had been granted for URA to proceed with a feasibility study on these.

These projects have been described as being ISL amenable, at depths of 50-70m and with thickness of 0.5-4m and 10-12m respectively. Nearby mines have had lives of 4 years and experienced 80% extraction rates. The September quarterly said that secrecy provisions were being lifted but we still havent seen any such releases to ASX.

Uran has lodged applications over the Osecna and Plouznice uranium projects in the Liberec district in the Czech Republic and revised applications over the Venice, Jamne and Polna deposits in the Brzkov district. The Liberec projects comlise mineralisation in sandy sediments with grades reported in the range of 400-1200ppm. In ASX release, URA quoted a local businessman, stating htat there was in excess of 120,000t U3O8 in the area.

URA has lodged applications for licenses in Bulgaria, Our research into that country has told us that the government is preparing to place a number of old ISL mines on the market, but legislation is needed for this to happen. These would likely be high cost mines at US$50/lb. Perhaps Uran will try and get some of these. Uran is also pursuing opportunities in Kazakhstan.

Investment Perspective: Uran is still a difficult company to form positive views on, largely because of the countries in which it is trying to secure a foothold. We are still uncomfortable with some of the releases to ASX. In particular, the quote of a local businessman stating 120,000t U308 in deposits is irresponsible and unacceptable and totally flaunts the rules regarding JORC standards.