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@SlmjrThanks for the feedback @Excelsior and @PamplonaTrader. $UEX was actually my first uranium stock got in last year at around .18c On the fence about buying more or selling and buying more $EFR or another company that is producing near term. Looks like I have some more reading to do. Appreciate the links tho it is odd that they would be selling shares after their last news release.
@SlmjrThanks for the feedback @Excelsior and @PamplonaTrader. $UEX was actually my first uranium stock got in last year at around .18c On the fence about buying more or selling and buying more $EFR or another company that is producing near term. Looks like I have some more reading to do. Appreciate the links tho it is odd that they would be selling shares after their last news release
@FundamentalAnalysis@Lukester599 From an initial cost basis $EFR is my largest holding compared to GXU and UEC within the uranium space.. GXU is the largest by current value and I've trimmed most of my UEC exposure. Ishare the same fustrations in regards to $EFR which I think has some marketing issues and the team isn't able to draw enough interest to raise cash on favourable terms. UEC and GXU have some big name, and big promoters backing it so they can draw in the crowds plus they have big stakes in the companies which keeps them aligned with the retail shareholders. The $EFR team currently live of their salaries and options and don't hold any meaningful stake in the company. I still think $EFR offers far superior potential and to some extent assets (given recent exploration/acquisitions) compared to UEC, and it also trades at a discount to UEC. If Energy fuels was known as Uranium fuels that would probably boost its marketing ability. I think the investor relations team has a lot of work to do, because clearly they are behind their "competition". However I am positive if we are in a real rally, EFR has further to run then UEC. Goviex however should run the furthest if the uranium price continues to rally.
@XrivaQ : Often SEDI shows insiders buying then selling [ or selling then buying ] the same # shares in the same day. Why do they do that ? And it is of any significance to us as investors ? #index$EFR$UUU#SEDI
@PonEFR has been lagging other companies for a while now. Like others have mentioned, their investor relations have a lot to do. Promote the damn thing
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@Wannabeinvestorproducers generally have underperformed the developers/ explorers in the U space so far.
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@PonI see more value/prospect in EFR than UEC, but from what I can tell, Amir Adnani is a better promoter. The other thing is I hear a lot of chatter from the US/Canada markets, but Australian market is kind of quiet, $PEN.AX is not getting a lot of love... Any input on that?
SEDI_botEnergy Fuels Inc. $EFR just filed 15 reports. View full report: SEDI:EFR
@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. ;-)
@Wannabeinvestor@Excelsior, @barracuda, these agreements that $EFR and $URE have are mostly legacy agreements. I keep in touch with a nuclear industry consultant who advises nuclear utilities for a living. his take on term contracts is that over the past couple of years term contracts have increasingly been based on spot + margin to cover for cost of capital primarily. he also says graphs with supply gaps are rubbish, there is plenty of U3O8 available. his summary for 2016 is primary production of ca 60k tons, secondary supply off ca 16k tons and reactor requirements of ca 61.5k. he thinks the flow of secondary material into the spot market will carry on for the foreseeable future. he also tells me UxC and TradeTech do not actually have access to term contracts, so whatever they report as term prices are just a speculation. he thinks up to 10 reactors online in Japan by the end of 2018 and about 25 by 2023. the man is rather conservative in his outlook. putting the above in perspective may explain why U3O8 producers have not seen much of a rally as opposed to some developers/ explorers.
@Stealinator@Just_Intrigued also, a bit of difference in #uranium producer vs explorers. With an 8 year overhang of above ground yellow cake and major producers still no where near to cracking a smile....yes, a bump off of the low of 18 to 25 is nice. Until I hear birds chirping about new contracts getting signed, I am more bullish the explorers. Though I am biased towards $EFR since last year, have not added to position yet.
@Lukester599Re: merits of #uranium producers vs. explorers - $EFR rocks. Positioned perfectly to transition to a midcap when the sector wakes up. Stronger than the microcaps. Value compression spring loaded and turnkey production scalability. In the catbirds seat geographically within one of the best jurisdictions un the world. This Uranium "junior" producer rocks.
@ExcelsiorThat 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.
@FundamentalAnalysis@chatyak I would agree, the way $uec finance themselves its far superior to the way $EFR did it few months ago. $EFR have a few things to learn from Amir and Co. $UEC is able to Promote its stock, bring in readers like katusa readers to participate in placements but giving them a warrant etc.....
@FundamentalAnalysis@chatyak Producers like $EFR are perfect for the next bull run, but not if it means waiting for few years, as I'm concerned about $EFR doing a terrible financing. I don't have those concerns with $UEC
@Excelsior@chatyak & @FundamentalAnalysis - great discussion. I've followed both $UEC and $EFR$UUUU for a number of years, and have positions in them both. My only point earlier was that $UEC failed to lock in longer term off-take agreements a few years back, and that is why they are not currently producing and working on their permitting and development instead. It's just funny how they turned a lemon into lemonade and how they have spun things.
$UEC may have timed it out perfectly, as many thought the recovery in U308 prices would have already occurred in 2015, 2016 and 2017. I wasn't a fan of the financing that $UUUU did last year but it's done now, and they are a solid company with a far larger profile of production and development projects than any other US based company. Moving forward both companies are pretty safe bets in this tiny #Uranium mining sector.
@FundamentalAnalysis@Excelsior Yup $UEC have spun it out as preserving their uranium in this low price environment :). But its stories like that which keeps the price propped up, $EFR unfortunately has been quite broken from a valuation perspective and that occurs due to poor communication/pr. I.e raising money at a discount where the money raised was only 10% of the market cap, shouldn't have led to the price falling to the placement price initially, then blowing straight through it before uranium spot prices were capitulating. I hold both, but trimmed both over the last month to take profits. $UEC due to valuation, and $EFR because it just doesn't move properly at all. If I was on the board....I would be instructing $EFR to really sort their PR out, because its not working. They also don't hold enough equity.....which means our interests are not aligned, and a discount placing isn't something they lose sleep over. I'm glad I bought Goviex $GXU near the bottom. I see that as my dependable position over the next cycle, large properties, good PR, good backing.
@Excelsior@FundamentalAnalysis - great points there and I agree with them for the most part regarding both companies. They've been in survival mode though, and had to make some tough calls.
I trimmed a bit in Jan and Feb on both $UEC and $UUUU$EFR just to take a little off the table, and have nibbled a bit at buying both back at reduced prices, but would like a little more pullback to deploy more funds into the sector.
Yes, $GXU has been on a tear, and I have exposure to them through $DNN$DML because Denison owns about 1/4 of their shares, and they are the ones that spun those properties out to them.
I'd encourage anyone to listen to the David Cates (form Denison) interview on Palisade recently to sum up the #Uranium sector on a macro level and what they are doing to move things forward, but there a nice section on their outlook for GoviEx as well.
anonymous@Goldfinger The fact is, $UEC and #Ameduri are practically married, so this stock will always be the most liquid with new buyers coming in. Doesn't mean it's the best uranium play, but considering $EFR is run by attorneys, $UEC is probably the best option.
@Vaughanfor the long run, sure, but this could be said for any commodity closer to the bottom then the top. #uranium I have always felt we will see share prices continue to decline into the summer from the top earlier in the year. Its a layman opinion mind you, but I sold my uranium plays much earlier in the year after the big run up ($GXU, $ARY, $EFR, $NXE) thinking I'd get favourable re-entry points in August September. Thoughts @Bullionaire ?