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@Leon Like it or not, #China is counting on #nuclear as an integral part of its clean energy future. Despite the recent rally, there are a couple of favorite #uranium names that may have plenty of room to run over the larger term. $GXU $URG http://energyandgold.com/2017/01/11/uranium-stocks-surge-nexgen-closes-at-all-time-high/
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@Excelsior @Onlyflaws most of the #Uranium stocks have been on a tear the last few weeks, so I'm just sticking with my positions in $NXE $UUUU $URG $DNN $UEC $UEX $URRE $LEU and now $LTBR. I am considering $ARY $PLU $WUC $AL $SYH and maybe $BMN.AX or $TOE.AX. Some have commented that $KIV is undervalued and has a good deposit.
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@PamplonaTrader $AZZ Dewey Burdock ~$12/lbs site costs. Stand alone needs ~$35/lbs U3O8 to work. $URE $URG needs a larger U inventory and I suspect $AZZ is a target. One of the better ISR/ISL assets. #SwingForTheFences #uranium
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@Excelsior Another fantastic day in the #Uranium Miners - URA (ETF) & the #Producers are on the top row, the #Developers are in the middle row, and the #Explorers are on the bottom row. #URA $CCJ $UUUU $URG $DNN $URRE $UEC $ARY $NXE $FCU $AL $UEX ( a few are looking a bit frothy ) ( $CCO $EFR $URE $DML $NXGEF $FCUUF $ANLDF $UEXCF) http://stockcharts.com/freecharts/candleglance.html?URA,CCJ,UUUU,URG,DNN,URRE,UEC,ARY.V,NXE.TO,FCU.TO,AL.V,UEX.TO|B|0
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@newswire Ur-Energy Provides 2016 Q4 and Year-End Operational Results @newswire/ur-energy-provides-2016-q4-and-year-end-operational $URE $URG
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@EvenPrime @Excelsior I asked what I was missing when it was brought up that $URRE was not a Uranium company (only by name) and that $UEC might not be a Uranium company either. That's a bit of stretch..... Like I said I own it for the optionality factor. My primary #Uranium positions are in $UUUU $NXE $DNN and $URG . I have "Optionality" positions in $UEC $URRE $UEX and $AL . I also swing trade $PDN from time to time. I'm not married to any of them other than $UUUU $NXE and $DNN 1 from #uranium, 22 Dec 2016, 15:11
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@Excelsior @barracuda & @Alan - Katusa has been plugging $UEC and Amir for years on his free research site. Here's an old link building the case for Uranium, with some good fundamental research, and the end is a huge plug for $UEC. https://katusaresearch.com/future-of-uranium/ Here is another article from Marin on the #Uranium market from a 2015, and after some interesting research, you can guess which company he is plugging for the last 1/3 of the piece: $UEC https://katusaresearch.com/the-clintons-the-new-york-times-uranium-and-the-truth/ One area he harps on is the optionality of $UEC because they aren't selling at the historically low spot prices. What he neglects to mention is that $CCJ $UUUU and $URG have been selling to meet long-term off-take agreements at prices in the mid-$50's (and not anywhere close to spot prices), so his point about them depleting their reserves in the $30s or $20s is off-track. Really, the reason $UEC is not currently a #producer is exactly because they don't have the longer term off-take agreements. (ding ding ding) He's a promoter and marketer, so he put the optionality spin on $UEC to make it more palatable, and trash talked other companies that were selling their product substantially above spot prices. I like $UEC and hold shares, but don't fall for the spin doctors BS.
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@Excelsior @Alan - agreed, but that was my point up above - $CCJ $UUUU and $URG are selling their #Uranium at $52-$56 a pound (nowhere near "these prices"). That is the fib and fallacy of Marin's point on $UEC. He's a sharp guy, so he knows they are not selling at spot pricing, but positions $UEC's inability to produce or get a longer term agreement at present as a wise optionality strategy; when really it is that they can not sell their product in the mid $50's. Longer term the price will go far above that, but it's his "spin" that I have a problem with. * As a side note, one of the more ingenious moves I saw last year was when $URG bought up a bunch of #Uranium for spot price and then delivered it to their buyer to satisfy the long-term offtake agreement at around $54. #Brilliant The only companies depleting their resource at the current spot prices are $PDN Paladin (that's why they're nearly going under), $ERA.AX, and Uranium One. Why do you think Kazakhstan just cut production output by 10%? They're tired of depleting their reserves at these prices, but nobody on here is invested in their state oligopoly anyway. That will be good for the rest of the world's Uranium miners though.
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@Excelsior Correction - On the most recent $URG statement their offtake agreement is for and average price of $47.61, but that is a blended rate between a few different contracts. They also sold some product at spot prices that averaged $32.70 per pound.. The point is that they aren't selling for $18-$22. "The Company has contractually committed 662,000 pounds during 2016, at an average price of $47.61 per pound. We have also established our delivery schedule for those commitments, with distribution throughout the year. From 2016 – 2020, these long-term commitments total in excesss of 2.8 million pounds, at an average price of $49.60 per pound. We have begun to make term agreements into the 2020s." As for $UUUU $EFR they have a higher #Uranium contract price: "150,000 pounds of #U3O8 sales were completed by the Company pursuant to a long-term contract at an average realized price of $58.00 per pound." As for $CCO $CCJ Cameco: Average realized price $43.37 ($US/lb) $56.34 ($Cdn/lb)
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@Excelsior Much more going on in #Uranium today than just $CCO Cameco's poor financials. This was a sector wide pullback, and it started the end of last week. It is healthy, normal, and expected. Just remember to #BTFD :-) Uranium Stock SYMBOL % CHG Cameco Corporation $CCJ -18.24% Anfield Resources Inc. $ARY -16.00% Uravan Minerals Inc. $UVN -15.79% Bayswater Uranium Corporation $BYU -13.33% Forum Uranium Corp. $FDC -12.50% Deep Yellow Limited $DYL.AX -12.00% Denison Mines Corp. $DNN -11.44% U3O8 Corp. $UWE -11.11% Purepoint Uranium Group Inc. $PTU -11.11% Forsys Metals Corp. $FSY -11.11% IsoEnergy Ltd. $ISO -10.74% UEX Corporation $UEX -10.71% Azarga Uranium Corp. $AZZ -10.64% Plateau Uranium Inc. $PLU -10.00% GoviEx Uranium Inc. $GXU -10.00% Uranium Resources, Inc. $URRE -9.87% Azincourt Uranium Inc. $AAZ -9.09% Laramide Resources Ltd. $LAM -8.89% Bannerman Resources Limited $BMN.AX -8.51% Mega Uranium Ltd. $MGA -8.33% Pacific Bay Minerals Ltd. $PBM -8.33% UR-Energy Inc. $URG -8.17% Energy Fuels Inc. $UUUU -7.83% Global X Uranium ETF $URA -7.58% Fission Uranium Corp. $FCU -7.50% Blue Sky Uranium Corp. BSK -7.25% Berkeley Energia Limited $BKY.L -7.04% Clean Commodities Corp. $CLE-6.67% Fission 3.0 Corp. FUU.V -6.25% Skyharbour Resources Ltd. $SYH -5.75% CanAlaska Uranium Ltd. $CVV -5.45% Lightbridge Corporation $LTBR -5.45% Uranium Energy Corp. $UEC -5.10% Western Uranium Corporation $WUC -4.76% NexGen Energy Ltd. $NXE -4.69% ALX Uranium Corp. $AL -4.00% Uranium Participation Corporation $U -3.56% Centrus Energy Corp. $LEU -3.36% Peninsula Energy Limited $PEN.AX -3.14% Eros Resources Corp. $ERC -2.70% Energy Resources of Australia Ltd $ERA.AX -1.47% Mawson Resources Limited $MAW -1.28% VanEck Vectors Uranium+Nuclear Engy ETF $NLR -0.25%
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@Excelsior I'd wager that with the #Uranium interest here on CEO that more investors are following $URG for Ur-Energy that whatever is coming up at present. #feedback
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@Excelsior @Sarb - $NXE Nexgen is a great choice for sure as the premier #Uranium #Explorer, and more insulated that some of the smaller explorers,and even most of the uranium stocks as @PamplonaTrader pointed out. If you want a #producer $UUUU $EFR Energy Fuels is fairly solid and is the second largest US Uranium producer. There is also $URG $URE Ur-Energy if you want more of a high torque Jr #Producer. If you want a #development stage Uranium company then it gets a bit murkier to pick out a "safe" pick but $DNN $DML Denison has been around decades, owns part of the mill with Areva that processes $CCO $CCJ Cameco's ore, has exposure to the #African projects that it spun out to $GXU GoviEx, and a mining remediation and clean up division as another revenue stream, in addition to it's exploration projects in the Athabasca Basin and it's JVs with other companies. $UEC Uranium Energy Corp is a highly followed company, promoted heavily, and has a fully built and permitted processing center with a hub and spoke formation of properties encircling the plant. There are more, but they aren't as liquid or widely followed (yet). It's tough to recommend stocks for others, because everyone has different strategies, time horizons, risk tolerance levels, jurisdiction rules, market cap or share structure preferences, etc.... but those are all companies that should do well over the next 6-12 months in a rising Uranium price environment. You can click on any of the $blue links above and go down the rabbit hole of news, charts, and chatter of each company here on CEO. That's the beauty of this site, and why I decided to tag them in retrospect.
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@Excelsior @Goldfinger - Absolutely. But a contract is a contract, and you don't get to decide to bail on it just because pricing collapsed. If the current #Uranium #Producers, like $CCO $CCJ Cameco, $EFR $UUUU Energy Fuels, or $URG $URE Ur-Energy, didn't have longer term supply contracts in place at higher prices, then the sector would have been screwed long before now. Without these longer term supply contracts there would have been 0 lbs produced the last few years.
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@Excelsior @PamplonaTrader - I get your point, but if they did nullify the supply contract..... first of all, it would royally screw over $CCJ $CCO and the concept of longer term #Uranium supply contracts in general. What would you advise the other power companies with longer term supply contracts in the $50's with $CCJ $CCO $UUUU $EFR $URG $URE do? Should they all cancel their off-take agreements and buy uranium at spot near $25? That would not only shut down the #producers, but it would crush #developers and #explorers as well.
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@Excelsior Today was an awesome day in the #Uranium Stocks ! Uranium Stock SYMBOL % CHG UEX Corporation $UEX +20.31% Clean Commodities Corp. $CLE +20.00% Forsys Metals Corp. $FSY +13.51% Kivalliq Energy Corporation $KIV +13.33% U3O8 Corp. $UWE +12.50% Uranium Resources, Inc. $URRE +11.90% GoviEx Uranium Inc. $GXU +10.39% Power Metals Corp. $PWM +10.26% Paladin Energy Ltd $PDN +9.68% Skyharbour Resources Ltd. $SYH +8.62% NexGen Energy Ltd. $NXE +7.67% Azarga Uranium Corp. $AZZ +7.32% Bayswater Uranium Corporation $BYU +7.14% Aura Energy Limited $AEE.AX +6.82% Fission 3.0 Corp. $FUU +5.88% Liberty Star Uranium & Metals Corp. $LBSR +5.63% Mega Uranium Ltd. $MGA +5.45% Cameco Corporation $CCJ +5.39% UR-Energy Inc. $URG +5.22% IsoEnergy Ltd. $ISO +5.00% Uravan Minerals Inc. $UVN +5.00% Western Uranium Corporation $WUC +4.80% Global X Uranium ETF $URA +4.43% Laramide Resources Ltd. $LAM +4.35% Deep Yellow Limited $DYL.AX +3.85% Fission Uranium Corp. $FCU +3.53% Purepoint Uranium Group Inc. $PTU +3.33% Energy Fuels Inc. $UUUU +3.29% Boss Resources Limited $BOE.AX +2.78% Peninsula Energy Limited $PEN.AX +2.61% Denison Mines Corp. $DNN +2.56% Mawson Resources Limited $MAW +2.17% Centrus Energy Corp. $LEU +1.95% Uranium Participation Corporation $U +1.75% Uranium Energy Corp. $UEC +1.73% Energy Resources of Australia Ltd $ERA.AX +1.38% Bannerman Resources Limited $BMN.AX +1.15% AREVA SA $ARVCF +1.03% Lightbridge Corporation $LTBR +0.93% VanEck Vectors Uranium+Nuclear Engy ETF $NLR +0.56%
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@Excelsior @barracuda - good point on the disconnect in the pricing reality and where the futures are trading as a projection. $URG $URE Ur-Energy and $UUUU $EFR Energy Fuels both have off-take agreements in the $40's & $50's and I can't see them renegotiating at $26. ;-)
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@Excelsior @Pon - It's hard to imagine #Uranium going back below $18 again (although anything is possible in resource investing); but it would appear that the bottom was the end of 2016. Will it be a rapid rise up in pricing? Not likely, due to the oversupply situation, and while pricing may muck around in the $20's for a while, the trend will be heading up going into 2018 and beyond. Could the uranium market be getting a bit ahead of itself at current levels? I recommend investors pull up a 5 year or 10 year chart and look at the recent move up coming out of late last year. It's just a little blip, and needs to be put into perspective. The average investor (even the gold & silver investors that thought their bear market was bad) just don't realize just how extreme the move down in these miners has been since 2011. For the miners to have clawed back a little bit is encouraging, and for those invested it seemed like a big move (and it was), but relative to the increases that will happen to many of these miners, this wasn't even the first inning of the game.... it was just the first base hit. ;-) This chart that goes back to 2011 should at least put things into perspective of where we are today with #Uranium Miners, and how the recent rally factors into the big picture. $CCJ $ARVCF $PALAF $UUUU $URG $DNN $UEC $URRE $URA $URPTF http://stockcharts.com/freecharts/perf.php?CCJ,ARVCF,PALAF,UUUU,URG,DNN,UEC,URRE,URA,URPTF&p=6&O=011000
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@Excelsior That also means $UEC does't have any longer term off-take agreements. That is why they haven't been #producing the last few years. They are good at spinning that as a positive though so they can focus on permitting their hub & spoke deposits. Still, $UUUU $EFR and $URG $URE have been selling much of their #Uranium in the mid $40s- to mid $50s - not all at spot prices.
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@Excelsior Uranium stocks were kind of a mixed bag overall today, with 1/3 up, 1/3 flat, and 1/3 down. Here were the Uranium Miners that had a ~green day today: Uranium Stocks – SYMBOL – % CHG Azincourt Uranium Inc. $AAZ +37.50% Eclipse Metals Limited $EPM.AX +12.50% Skyharbour Resources Ltd. $SYH +11.29% Uranium Resources, Inc. 4URRE +8.25% ALX Uranium Corp. $AL +8.00% Mega Uranium Ltd. $MGA +7.84% enCore Energy Corp. $EU +7.41% Bannerman Resources Limited $BMN.AX +6.78% UR-Energy Inc. $URG +4.64% NexGen Energy Ltd. $NXE +4.13% Denison Mines Corp. $DNN +3.74% Energy Resources of Australia Ltd $ERA.AX +3.33% Cameco Corporation $CCJ +3.11% Forsys Metals Corp. $FSY +3.03% Fission Uranium Corp. $FCU +2.56% Peninsula Energy Limited $PEN.AX +2.38% Toro Energy Limited $TOE.AX +2.13% Lightbridge Corporation $LTBR +1.94% Laramide Resources Ltd. $LAM +1.59% Global X Uranium ETF $URA +1.55% Boss Resources Limited $BOE.AX +1.45% Uranium Energy Corp. $UEC +1.25% VanEck Vectors Uranium+Nuclear Engy ETF $NLR +0.03%
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@Excelsior $URG $URE Ur-Energy Releases 2016 Year End Results Fri March 3, 2017 #Uranium #Production "For the year, we sold 562,000 pounds at an average price per pound of $39.49 for total uranium sales of $22.2 million. Total 2016 $contract deliveries were 662,000 pounds at an average price per pound of $47.58. As discussed above, two, 100,000 pound, contracts at $62 per pound were assigned to a third party for net cash proceeds of $5.1 million. Additionally, we recognized $20 thousand of disposal fees at the Shirley Basin Project. This resulted in total sales of $27.3 million as reported in the financial statements. "At the end of the year, we had approximately 84,689 pounds of U3O8 at the conversion facility at an average $cost per pound of $32.48. The increase from the previous year's $25.23 is mainly due to reduced production levels accounting for a greater unit cost in both the cash and non-cash categories." http://seekingalpha.com/pr/16761274-ur-energy-releases-2016-year-end-results
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@Excelsior @wannabeinvestor - I wouldn't say that $URE $URG has a problem in their flow rates, as they reduced them on purpose due to the lower #Uranium pricing (but this raised their cost per unit accordingly). They are slowing down the ramp up and costs of bringing MU2 up to full #production, because pricing doesn't warrant the extra production at present, so they are just trying to meet their contract obligations. Since their average deliveries were at $47.58 and they also pulled off 2 contracts totaling 200,000 pounds at $62 per lb, then that is much better than Cameco or Areva or Paladin is doing lately. "In 2016, the average spot price per pound of U3O8, as reported by Ux Consulting Company, LLC and TradeTech, LLC, decreased approximately 47% to about $18.00 per pound in November. As a result, we deliberately reduced costs and slowed development activities at MU2, and focused on enhancing production efficiencies from our operating MU1 header houses." "Thus far in 2017, the average spot price per pound of U3O8 increased to about $26.50, but subsequently decreased to $23.00 as of February 27, indicating the fundamentals of market pricing have not changed sufficiently to warrant the accelerated development of MU2. In response, we will instead develop MU2 at a controlled rate, which will allow us to produce at a level that will satisfy a portion of our sales contracts."
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@Excelsior There was a nice run in the #Uranium stocks today. Fun times! Uranium Stocks SYMBOL % CHG (03/15/2017) U3O8 Corp. $UWE +16.67% Deep Yellow Limited $DYL.AX +12.73% GoviEx Uranium Inc. $GXU +12.07% enCore Energy Corp. $EU +10.00% Blue Sky Uranium Corp. $BSK +9.52% Plateau Uranium Inc. $PLU +9.26% Purepoint Uranium Group Inc. $PTU +9.09% Energy Fuels Inc. $UUUU +9.05% Kivalliq Energy Corporation $KIV +8.00% Forsys Metals Corp. $FSY +7.14% Uranium Energy Corp. $UEC +6.57% Mawson Resources Limited $MAW +6.10% Anfield Resources Inc. $ARY +5.88% Centrus Energy Corp. $LEU +5.11% Fission 3.0 Corp. $FUU +5.00% Power Metals Corp. $PWM +4.76% Toro Energy Limited $TOE.AX +4.55% Azarga Uranium Corp. $AZZ +4.05% Bannerman Resources Limited $BMN.AX +3.51% UR-Energy Inc. $URG +3.37% Denison Mines Corp. $DNN +3.00% Global X Uranium ETF $URA +2.79% NEXGEN ENERGY LTD $NXE +2.40% VanEck Vectors Uranium+Nuclear Engy ETF $NLR +2.16% UEX Corporation $UEX +1.52% Boss Resources Limited $BOE.AX +1.33% Fission Uranium Corp. $FCU +1.20% Peninsula Energy Limited $PEN.AX +0.92% Cameco Corporation $CCJ +0.83% Energy Resources of Australia Ltd $ERA.AX +0.71%
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@Excelsior @Enforcer36 - This is one of the better overviews of #NorthAmerican #Uranium #Producers that I’ve come across. $CCO $CCJ $DML $DNN $EFR $UUUU $UEC $URE $URG $URRE $PEN $PENMF. The only one not included in this article was $ARY $ANLDF Anfield Resources (as they are just going into production in 2017). I would also add that $UEC and $URRE are prior producers but not currently in production, so I have them categorized as #Development stage at this point. Note: This article doesn't cover the #Explorers (which have fared better than the producers due to the depressed prices in the #Uranium sector) _________________________________________________________________________ North American Uranium Producers December 20, 2016 – Brian @ Junior Stock Review http://www.juniorstockreview.com/2016/12/20/north-american-uranium-producers/
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@Excelsior @Goldfinger - good article on Uranium breaking out on the RSI and MACD. Here are the #Uranium miners that had a nice ~green day. Uranium Stocks - SYMBOL - % CHG Bayswater Uranium Corporation $BYU +12.50% Uranium Resources, Inc. $URRE +8.95% Eros Resources Corp. $ERC +8.57% Azincourt Uranium Inc. $AAZ +8.57% Clean Commodities Corp. $CLE +7.14% NexGen Energy Ltd. $NXE +6.81% Energy Fuels Inc. $UUUU +6.80% UEX Corporation $UEX +6.67% GoviEx Uranium Inc. $GXU +6.52% Bannerman Resources Limited $BMN.AX +6.38% Fission Uranium Corp. $FCU +6.25% enCore Energy Corp. $EU +5.88% Plateau Uranium Inc. $PLU +5.56% Laramide Resources Ltd. $LAM +5.36% Mega Uranium Ltd. $MGA +4.88% Denison Mines Corp. $DNN +4.30% Peninsula Energy Limited $PEN.AX +4.21% UR-Energy Inc. $URG +4.17% Global X Uranium ETF $URA +4.08% Cameco Corporation $CCJ +3.94% CanAlaska Uranium Ltd. $CVV +2.22% Skyharbour Resources Ltd. $SYH +2.00% Deep Yellow Limited $DYL.AX +1.67% Centrus Energy Corp. $LEU +0.51% Uranium Participation Corporation $U +0.25%
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@Lukester599 @tcu - re: "My pick is $GXU $NXE $UEC $URRE $EFR and $SYH". - real good. An excellent, lean portfolio. Just the essentials. Lots of torque! Too bad we are just looking for fat returns, otherwise $URG should have been on the honors list too. A small, prudently-run producer with an excellent resource base. We have to respect their constant consideration for shareholders.
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@Excelsior "During the quarter, sales totaled $14.8 million on contract sales of 250,000 pounds at an average price of $59.28 per pound, or 145% above the average spot price for the same period of $24.17 per pound." $URG $URE
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@Vaughan Wow, are other uranium cos getting the same prices for their product (in general) @Excelsior. Thats an impressive hedge they have. When are their contracts due to expire? With prices like that, this company remains profitable. Wow.
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@Excelsior @Vaughan - We've raised the point before that producers like Cameco, Energy Fuels, and Ur-Energy aren't selling all their product at spot prices; (some of it yes), but most is being sold into longer term off-take agreements. Most of what we see written or discussed in interviews are people that keep saying "nobody is making money at these prices." That's true for companies like Paladin, who has very few longer-term off-take agreements and sells mostly near spot, and really most Uranium companies, even with the longer term agreements have been struggling the last few years. Ur-Energy and Energy Fuels both have staggered longer-term offtake agreements in the high $40's to mid $50s that expire over the next few years. Think about the one Cameco had for near $100 with TEPCO that was just in the news as they want out of it. __________________________________________________________________ Here's the plan for the rest of the year - purchasing some in the open market and putting in some in from their production to meet their contractual agreement: Continuing Guidance for 2017 "We expect to have contract sales of 241,000 pounds U3O8 in 2017 Q2 at an average price of $49 per pound. We plan to purchase 210,000 of those pounds at an average cost of $23 per pound. The balance will be delivered from Lost Creek production. The 2017 Q2 production target for Lost Creek is between 60,000 and 75,000 pounds dried and drummed." __________________________________________________________________ These companies have been operating the last few years because these longer term contracts were helping bring in some revenues (maybe not everything desired, but still those were profitable contracts, similar to a hedge). So when you hear the "optionality" marketing mantra, about how certain companies, like Uranium Energy Corp, are unhedged optionality plays saving their resources for better prices..... it is really more a matter of them not having any longer term off-take agreements, so they stopped producing and focused on permitting and development of other other projects. It's all good and these companies each have unique strengths and weaknesses, but Ur-Energy is a great little producer that doesn't get enough credit. Their wart is that they don't have a super huge deposit, so some of the unknown is how their exploration will feed future growth of their Insitu operations. However, buying Uranium in the open market at current prices and using it to fill much of their contractual agreements at higher prices is pretty wise, and does conserve some of their assets, limiting the production required.
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@Vaughan Thanks @Excelsior. I was aware that most producers had longer term contracts much higher than spot price, and that many of these contracts are supposed to be up over the next 18-36 months, depending on the company (hence talk of the real crunch in the industry come 2019. Admittedly, I have never really looked into $urg though, so was surprised to see them receiving close to $60/per pound. #uranium.
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@Excelsior @Vaughan - Thanks. Yes Ur-Energy is a nice little In-situ #producer & reseller, and they have nice upside/downside torque to moves in the #Uranium mining stocks. A fun company to trade, but I always keep a small core position in place in case a larger company decides to gobble them up one day. It also seems prudent to have a few irons in the fire in the US production sub-sector because the US still has the largest fleet and most energy demands as it relates to #Nuclear power. It isn't common to hear $URG discussed very often though. Same thing with the small producer $PEN.AX Peninsula energy and the near term producer $ARY Anfield Resources. Most generalist resource investors, that only give Uranium a cursory look, tend to focus on Canada and the Athabasca Basin, or sometimes in Africa or Australia, but these smaller US producers are still flying under the radar.
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@Excelsior @Vaughan - Thanks. Yes Ur-Energy is a nice little In-situ #producer & reseller, and they have nice upside/downside torque to moves in the #Uranium mining stocks. A fun company to trade, but I always keep a small core position in place in case a larger company decides to gobble them up one day. It also seems prudent to have a few irons in the fire in the US production sub-sector because the US still has the largest fleet and most energy demands as it relates to #Nuclear power. It isn't common to hear $URG discussed very often though. Same thing with the small producer $PEN.AX Peninsula energy and the near term producer $ARY Anfield Resources. Most generalist resource investors, that only give Uranium a cursory look, tend to focus on Canada and the Athabasca Basin, or sometimes in Africa or Australia, but these smaller US producers are still flying under the radar.
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@Excelsior @Slmjr - Companies like $CCJ $CCO $UUUU $EFR $URG $URE and $PEN.AX have longer term offtake agreements in the mid $40s to mid $50s and that is how they are able to keep producing #Uranium. They are not selling most of their #production at spot prices. I posted this over the weekend as an example for Ur-Energy: "During the quarter, sales totaled $14.8 million on contract sales of 250,000 pounds at an average price of $59.28 per pound, or 145% above the average spot price for the same period of $24.17 per pound." $URG $URE
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@Excelsior @Slmjr - Most companies keep the specifics of their #Uranium off-take contracts close to their chest, and don't reveal all the details, but in interviews I've listened to with Energy Fuels and pieces I've read on various Uranium sites it seems many expire from 2018-2020. Most are staggered anyway. Here was guidance from $URG for the remainder of this year: Continuing Guidance for 2017 "We expect to have contract sales of 241,000 pounds U3O8 in 2017 Q2 at an average price of $49 per pound. We plan to purchase 210,000 of those pounds at an average cost of $23 per pound. The balance will be delivered from Lost Creek production. The 2017 Q2 production target for Lost Creek is between 60,000 and 75,000 pounds dried and drummed." $PEN.AX Peninsula strategy has already delivered prior to the start of Lance Projects production (from page 19 of their corporate presentation) – Approx. 8 million lbs under Term contracts (5 agreements) – US$55/lb weighted average delivery price under existing contracts $ARY Anfield Resources is getting ready to go into #production and they'll likely do something similar to what Penisula did.
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@Excelsior @Vaughan - Yes that was $URG $URE UR-Energy but their longer term contracts are between the high $40's - high $50's. I believe the balance of 2017 for them is around $49 but they had some contracts at $53 and $56 in years past (so yeah, they weren't selling at spot... but sometimes they bought #uranium for spot in the open markets and sold a percentage into their higher contract prices and kept the difference). $UUUU $EFR Energy Fuels have had contract prices in the $52-$58 range the last few years. Also, $PEN.AX Peninsula (a newer producer few discuss on here) is forward selling their Uranium for 5 year off-takes at around $55 if memory serves. $CCO $CCJ has many more staggered contracts but they typically average in the low to mid $40's. Cameco does sell a certain percentage of their production at spot prices though, so they have more of a blended output. That TEPCO off-take contract Cameco had {near $100 lb} was higher than most and left over from the previous cycle. You can see why TEPCO would want out of it. There were periods where Uranium was pushing $120-$140 (that seems so odd now that we are down around $23 in spot, but that shows the disconnect in the current spot pricing).
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@Excelsior $URG $URE Ur-Energy Releases 2017 Q1 Results Fri May 5, 2017 "Chairman of the Company, Jeff Klenda noted,"We continue to execute on our strategy to satisfy our 2017 deliveries through a combination of purchased and produced pounds. In the first quarter, we purchased 200,000 pounds at an average cost of $20 per pound, which led to gross profit margins in excess of 57 percent and cash flows from operations of $6.5 million. We did this while at the same time reaching the safety milestone of 12 months with no lost-time accidents. I couldn't be more proud of our team." #U3O8 sales of $14.8 million for 2017 Q1 were based on selling 250,000 pounds at an average price of $59.28 into term contract deliveries. We did not make any spot sales during the quarter. Of the 250,000 pounds sold, 50,000 were from produced inventory and 200,000 were from purchased U3O8. For the quarter, our cost of sales totaled $6.3 million at an average cost of $25.18 per pound." https://seekingalpha.com/pr/16823633-ur-energy-releases-2017-q1-results
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@Excelsior ~Green shoots in the #Uranium Miners today. Nice day for most of the Sector. #Uranium Stocks Last Price % Chg $AAZ 0.10 17.65% $URRE 1.69 12.67% $UEX 0.23 12.20% $MGA 0.18 9.38% $NXE 3.26 8.67% $UUUU 1.73 8.13% $GXU 0.20 8.11% $FDC 0.08 7.14% $UEC 1.20 7.14% $CVV 0.40 6.67% $LEU 4.32 6.67% $FCU 0.65 6.56% $DNN 0.52 6.12% $API 0.20 5.26% $KIV 0.11 5.00% $URG 0.52 4.72% $PLU 0.47 4.44% $PEN.AX 0.36 4.41% $LAM 0.38 4.05% $SYH 0.45 3.49% $URA 13.04 2.35% $CCJ 9.93 2.16% $LTBR 1.27 0.79% $U 3.93 0.77% $NLR 49.57 0.11%
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@Excelsior This #VIDEO is a very good Macro overview of the harsh realities of the #Uranium mining sector in this low price environment, and the ability of #Insitu #producers to operate at lower costs than hard rock miners. Most importantly, their foresight to put in longer term #offtake agreements, several years back, is what allowed Ur-Energy survive and thrive in this downturn. __________________________________________ Update with $URG $URE Ur-Energy Inc. October 2016 | Stock News Now "SNNLive caught up with Jeffrey Klenda, Executive Board Chairman and Co-Founder of Ur-Energy Inc.at the New Orleans Investment Conference 2016. https://www.youtube.com/watch?v=9ajgQ2uK5Zw+
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@Lukester599 Re: $EFR / $UUUU grades at Canyon mine - it's a smaller mine, but as it stands, Cantor has calculated their cash costs (due to Canyon, or other projects, I am not sure) actually beat ISR miners $UEC and $URG by quite a bit. $URG cash cost was approx. $21 and $UEC cash cost was $24, (from a 1st QTR 2017 report) while $EFR was calculated at below $17.00 (!!) due to the copper off-take and White Mesa mill alternate feed credits. Quite impressive.
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from #uuuu,
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@Excelsior Most of the #Uranium Stocks had a nice ~Green day to wrap up the week: #Uranium Stocks - Company Name - % Gain on Friday 05/19/2017 $UWE U3O8 Corp. +20.00% $FUU Fission 3.0 Corp. +13.33% $AL ALX Uranium Corp. +12.50% $CVV CanAlaska Uranium Ltd. +10.53% $BOE.AX Boss Resources Limited +9.09% $URG UR-Energy Inc. +9.07% $UEX UEX Corporation +9.76% $DNN Denison Mines Corp. +7.23% $API Appia Energy Corp. +6.90% $UEC Uranium Energy Corp. +5.88% $LAM Laramide Resources Ltd. +5.88% $AAZ Azincourt Uranium Inc. +5.26% $FCU Fission Uranium Corp. +4.84% $NXE NexGen Energy Ltd. +3.86% $ACB.AX A-Cap Resources Limited +3.57% $UUUU Energy Fuels Inc. +3.07% $LTBR Lightbridge Corporation +2.73% $URA Global X Funds - Global X Uranium ETF +2.51% $DYL.AX Deep Yellow Limited +2.13% $CCJ Cameco Corporation +1.96% $WUC Western Uranium Corporation +1.33% $NLR VanEck Vectors ETF Trust +1.07% $U Uranium Participation Corporation +0.52%
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from #index,