logix4556, what a fantastic night, come across this article a few moments ago " Only short but to the point, " thought the Bulls may be Interested :)
Uranium stocks are leading the TSX Composite Index on the upside this morning. Cameco , the poster child for the sector broke above its 200 day moving average and resistance at $40 to reach a five month high.
Other uranium producer stocks also are sharply higher (e.g. Denison Mines). A possible reason for strength is a spike in uranium fluoride prices this week.
Here's a small sample of some Big runners from overnight on the TSX. _____________________________________________________________
URACAN RESOURCES Up 33.33%
STRONGBOW EXPLORATION Up 25.00%
MEGA URANIUM LTD Up 22.95%
PINETREE CAPITAL Up 15.83%
ENERGY FUELS INC Up 13.89%
LARAMIDE RESOURCES Up 13.49%
PALADIN Energy UP 9.48%
DENISON MINES Up 8.51%
CAMECO CORP. Up 7.26% _____________________________________________________________
Also check this out
China eyes $15b NSW power play John Garnaut | May 9, 2008
CHINA'S largest power company has its eyes on Morris Iemma's $15 billion sell-off, as part of an ambitious strategy to buy Australian power, coal and even uranium assets.
China Huaneng Group has already bought power assets in Queensland and Singapore and now wants to greatly expand its presence in South-East Asia and Australia.
The company has asked its "Australian team to follow these reforms and send suggestions back to senior management", said a source with knowledge of Huaneng's foreign investment plans. "The precondition is that Huaneng's existing businesses are going well enough," the source said, referring to a five-year-old stake in two Queensland generators.
A Huaneng bid would boost the revenue windfall expected to flow to the State Government next year on behalf of NSW taxpayers. But it will compound the political challenge for the Prime Minister, Kevin Rudd, as his Government struggles to process a backlog of Chinese foreign investment applications.
China's largest coalmining company, Shenhua Group, has also been closely watching the NSW electricity privatisation program. But Chinese companies are concerned by what they see as Federal Government discrimination against recent Chinese investment proposals.
The Herald understands that a senior Shenhua executive confronted Mr Rudd on the subject in Beijing last month. According to another Chinese executive who was at the meeting, the Shenhua executive's questions to Mr Rudd were "not so friendly" but they reflected broad Chinese concerns.
"Chinese companies have got a kind of feeling that we are encountering unfair policies," said the executive. "We don't want any preferential policies, we just want fair and open competition."
Australian sources confirm Chinese executives did raise investment concerns with Mr Rudd in Beijing. Yesterday a spokesman for Mr Rudd reiterated that Australia welcomes foreign investment subject to the national interest test applied by the Foreign Investment Review Board.
Both Huaneng and Shenhua are also actively scouring eastern Australia for coalmines to ease an acute shortage. China mines and consumes about 2.5 billion tonnes of coal a year, about 40 per cent of the world total, but that is not enough to satisfy the industrial machine.
The company shopping list also includes Australian uranium deposits, which it desperately wants in order to supply new-generation nuclear power plants it is building in Shandong province. . . . Cheers to the U-Bulls from grant64 :) " Good Times Are Indeed Back " . .
(20min delay)