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i grabbed a bunch here today.
Is the PK O/S the same as the TSX O/S?
MGA:TSX 246,026,509 84816W104 CA58516W1041
For the week: +10%
Current pps is well above the daily/weekly moving averages.
Up +5% for the week...
MEGA URANIUM LTD (TSE:MGA) Uptrend Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with tight money management stops.
Based on a pre-defined weighted trend formula for chart analysis, MGA scored +70 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Thursday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending August 28th
-30 New 3 Month Low in June
..................................................................
A beautiful daily cup/handle has formed getting through the MA50 and then the MA100 and now the assault on the MA200... some consolidating has occured along the way with a bullish cross of the MA100 by the MA50.
See where Mega ranks in the Uranium section:
Metals & Mining Analysts' Ratings & Estimates - Juniors
By Bill Matlack
Sep 7 2010 11:42AM
http://www.scarsdale-equities.com
Junior Producers, Development/Advanced Exploration Stage
http://www.kitco.com/ind/matlack/sep072010_juniors.html
The industry as a whole is getting supported from GE and Hitachi, etc.... I really believe the low is in.
Mega Uranium Ltd. Releases Unaudited Results for the Three and Nine Months Ended June 30, 2010
TORONTO, ONTARIO, Aug 13, 2010 (MARKETWIRE via COMTEX) -- Mega Uranium Ltd. ("Mega") (CA:MGA 0.49, 0.00, 0.00%) today announces its unaudited results for the three and nine months ended June 30, 2010.
SUMMARY FINANCIAL RESULTS
As at June 30, 2010, Mega had cash, cash equivalents and marketable securities totaling $53.3 million, as compared to $21.9 million at the end of September 30, 2009, an increase of 143%. The increase is primarily attributable to the proceeds from the public offering which closed during the first quarter.
As at June 30, 2010, the Company had mineral properties and related expenditures from its continuing operations of $279.8 million, as compared to $280.1 million as at September 30, 2009. The decrease is due to write downs of mineral properties of $5 million, utilization of $8.9 million of funds received under the JAURD Agreement, which are recorded as a reduction from mineral properties, offset by expenditures of $13.6 million in Australia, Cameroon and Canada.
Summary results for the three months ended June 30, 2010, as compared to the
three months ended June 30, 2009:
-- Financial loss from continuing operations from financial and trading
activities for the quarter was $1.3 million, most of which relates to
unrealized losses on investments in public companies, as compared to a
financial gain of $3.3 million last year.
-- Total operating, general & administrative expenses from continuing
operations were $2.2 million in the quarter as compared to $3.1 million
in the prior year's quarter. The decrease was primarily attributable to
cost containment measures in our Australian and Cameroon subsidiaries.
-- Net loss from continuing operations in the quarter was $6.1 million
($0.02 per common share), as compared to net loss of $3.3 million in the
previous year's quarter ($0.02 per common share).
-- Net income from discontinued operations in the quarter was $0.1 million
($0.00 per common share), as compared to net loss of $0.4 million in the
previous year's quarter ($0.00 per common share).
Summary results for the nine months ended June 30, 2010 as compared to the
nine months ended June 30, 2009:
-- Financial loss from continuing operations was $2 million in the current
period as compared to a financial gain of $2.8 million for the nine
months ended June 30, 2009. The financial loss in the current year was
due primarily to realized losses on disposal of investments in public
companies.
-- Total operating, general and administrative expenses from continuing
operations were $8.2 million in the current period, as compared to $8.2
million for the nine months ended June 30, 2009.
-- Net loss from continuing operations in the nine month period was $15.1
million ($0.06 per common share) as compared to a net loss of $11
million ($0.06 per common share) for the nine months ended June 30,
2009.
-- Net loss from discontinued operations in the nine month period was $6.5
million ($0.03 per common share) as compared to a net loss of $0.9
million ($0.00 per common share) for the nine months ended June 30,
2009.
PROJECT ACTIVITY
In the second three months of 2010, Mega advanced its feasibility studies of the Lake Maitland uranium project in Western Australia and made significant progress in the approvals process for mine development - for further details refer to Mega's news releases of April 8, 2010 and June 23, 2010. Exploration work continued on priority projects in Australia, Canada and Cameroon.
On April 7, 2010, Mega completed the previously announced sale of its South American uranium properties, plus $4 million in cash, to U308 Corp. ("U308") in exchange for 30,564,858 common shares of U308 valued at $13.9 million. The company then distributed the U3O8 shares to Mega shareholders by way of a dividend-in-kind paid on its common shares on April 26, 2010. The divestiture and dividend-in-kind were undertaken by the Company as part of its initiative to unlock shareholder value attributable to Mega's non-core exploration properties, as it continues to focus on bringing its Lake Maitland project to production. The divesture is accounted for as discontinued operations in the interim financial statements for the period as at and ended June 30, 2010.
Stewart Taylor, Mega's President and Qualified Person under NI 43-101, has reviewed the technical information in this release and has verified the contents disclosed.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada and Cameroon. Further information on Mega can be found on the company's website at www.megauranium.com. Mega Uranium's Ben Lomond and Maureen properties in Queensland, Australia are subject to a state policy which presently prohibits the mining of uranium.
NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain information contained in this press release constitutes "forward-looking information", which is information regarding possible events, conditions or results of operations that is based upon assumptions about future economic conditions and courses of action. All information other than matters of historical fact may be forward-looking information. In some cases, forward-looking information can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release includes, but is not limited to, statements about our plans regarding future acquisitions and property development, our expectations regarding the uranium market, global growth and the use of nuclear power, our drill results, commodity prices and core intersection lengths, in that they constitute estimates, based on certain assumptions of mineralization that may be encountered if a deposit were to be mined.
By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such forward-looking information. Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking information contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; and other risks and uncertainties related to the Company's prospects, properties and business strategy.
Although we have attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking information, readers are cautioned that this list is not exhaustive and there may be other factors that we have not identified. Readers are cautioned not to place undue reliance on forward-looking information contained in this release. Forward-looking information is based upon our beliefs, estimates and opinions as at the date of this release, which we believe are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, we undertake no obligation to update or revise forward-looking information if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
All forward-looking information contained in this release is expressly qualified by this cautionary note.
NOTE REGARDING DISCLOSURE FOR MINERAL PROJECTS
This press release contains disclosure regarding our mineral resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources may never be converted into reserves. Furthermore, inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Further exploration will be required to upgrade the inferred resources to a higher resource category.
Contacts:
Investor Relations:
Mega Uranium Ltd.
Richard Patricio, VP Corporate and Legal Affairs
(416) 643-7630
info@megauranium.com
www.megauranium.com
SOURCE: Mega Uranium Ltd.
mailto:info@megauranium.com
http://www.megauranium.com
Is the bottom in at 35 cents???
Lake Maitland Uranium Project Update
· Environmental Scoping Document released for public review
· Sterilization drilling program completed
· Test Pit program planned for this year
http://www.megauranium.com/main/?newsReleases&324
TORONTO, Ontario – June 23, 2010 - Mega Uranium Ltd. (TSX:MGA) (“Mega”) is pleased to provide an update on the development of its Lake Maitland Uranium Project (“Project”) in Western Australia. The Environmental Scoping Document (“ESD”) for the Project has now been released for public review which is a significant milestone in the approvals process.
The ESD will be available for public review until 5 July during which period any interested persons will be able to make comments about it to the Western Australian Environmental Protection Authority (“EPA”).
The ESD describes Mega’s proposal to develop its Project in the Eastern Goldfields region of Western Australia over an anticipated mine life of 10 years, producing up to 1,000 tonnes per annum of uranium peroxide concentrate. The ESD identifies the key potential environmental impacts in connection with the Project and defines the scope of the environmental investigations and studies that will be carried out to address those impacts.
Mega is required to respond to comments made during the public review period before the ESD is finalised with the EPA. Once finalised, the ESD will provide direction to Mega in preparing the Environmental Review and Management Programme (“ERMP”), which is the next stage in the assessment and approval process.
An ERMP level of assessment has been set by the Western Australian Environmental Protection Authority (EPA) for the Project and is the highest level of assessment in Western Australia. The public review period for the ERMP has been extended from 10 to 14 weeks, which is consistent with the review period for the other uranium projects in close proximity to Lake Maitland.
The ESD can be viewed at:
http://www.lakemaitlandproject.com.
Submissions on the ESD are to be made to the EPA and a submission form can be obtained from: http://www.epa.wa.gov.au/submissions.asp.
A sterilization drilling programme consisting of 42 holes for 1,203 meters over the proposed locations for processing and potential tailings disposal facilities was completed in April 2010. The results are pending downhole gamma logging.
Mega will be applying to the Western Australian Department of Mines and Petroleum to undertake a Test Pit program during the year to enable further evaluation of mining methods and associated groundwater aspects. The proposed program will consist of two 40m by 25m excavations and will take 6 weeks to complete. Mega is also in the final stages of preparation for the groundwater exploration program on Miscellaneous Licence L53/152.
Work is progressing on other aspects of the Definitive Feasibility Study for the Project including metallurgical testwork, engineering and infrastructure design, water management and tailing storage management. Ethnographic, archaeological and non-indigenous heritage surveys over the area of the uranium deposit identified to date have found no sites of significance that would delay development. Further heritage surveys are planned to be undertaken as the Project progresses. The socio-economic impact assessment and community consultations are continuing.
The market agrees by showing the first green week in 3 months...
More good tax info. Should be good for Mega U. http://www.marketwatch.com/story/rio-tinto-original-mining-tax-plan-is-dead-2010-06-25
I sure wish I would of waited to buy in at this time instead of .64!!!What a great time to buy now. But I got the Austrailian tax bomb dropped on me. Who would know of such a stupid idea was coming. Well, if it doesnt pass this stock will explode from here. I think it was just to get the public behind these politicians when they well know it was the mining industry that saved their ass from the meltdown. This crap tax is not gonna pass... Whats the logic? If 30% tax is good why not 40%? Well, why not 70% and so on.... Real smart!!!!That logic never works. Thats why were(U.S.) not socialists. Athough we seem to be sliding that way with the latest election. In three years or so, uranium producers are gonna be doing awesome. Its either coal, solar , wind mills, or nuclear. Look at those four. What would you pick to be the best! Lol... Its coming but its been a hard road.
Mega Uranium Ltd. Releases Unaudited Results for the Three and Six Months Ended March 31, 2010
Explore related topics
Magna International Inc.
STORYQUOTESCOMMENTS SCREENER
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TORONTO, ONTARIO, May 14, 2010 (Marketwire via COMTEX) -- Mega Uranium Ltd. ("Mega") (CA:MG.A 78.00, 0.00, 0.00%) today announces its unaudited results for the three and six months ended March 31, 2010.
SUMMARY FINANCIAL RESULTS
As at March 31, 2010, Mega had cash, cash equivalents and marketable securities totaling $60.2 million, as compared to $22.3 million at the end of September 30, 2009, an increase of 170%. The increase is primarily attributable to the proceeds from the public offering which closed during the prior quarter.
As at March 31, 2010, the Company had mineral properties and related expenditures of $290.5 million, as compared to $295 million as at September 30, 2009. The decrease is due to write downs of mineral properties of $9.2 million, utilization of $5.4 million of funds received under the JAURD Agreement, which are recorded as a reduction from mineral properties, offset by exploration expenditures of $10.2 million in Australia, Cameroon and Canada.
Summary results for the three months ended March 31, 2010, as compared to the three months ended March 31, 2009:
-- Financial loss from financial and trading activities for the quarter was
$0.4 million, most of which relates to unrealized losses on investments
in public companies, as compared to a financial gain of $1.8 million
last year.
-- Total operating, general & administrative expenses were $3.5 million in
the quarter as compared to $2.4 million in the prior year's quarter. The
increase was primarily due to increases in consulting and professional
advisory service fees.
-- Net loss in the quarter was $14.5 million ($0.06 per common share), as
compared to net income of $2.2 million in the previous year's quarter
($0.01 per common share).
Summary results for the six months ended March 31, 2010 as compared to the six months ended March 31, 2009:
-- Financial loss was $0.7 million in the current period as compared to a
financial loss of $0.4 million for the six months ended March 31, 2009.
The financial loss in the current year was due primarily to realized
losses on disposal of investments in public companies.
-- Total operating, general and administrative expenses were $6.3 million
in the current period, as compared to $5.6 million for the six months
ended March 31, 2009. The increase was primarily due to increases in
consulting and professional advisory service fees.
-- Net loss in the six month period was $15.6 million ($0.06 per common
share) as compared to a net loss of $8.1 million ($0.04 per common
share) for the six months ended March 31, 2009.
PROJECT ACTIVITY
In the first three months of 2010, Mega continued its feasibility studies of the Lake Maitland project in Western Australia and progressed exploration of priority projects in Argentina, Canada and Cameroon. In Cameroon drilling programs were conducted in the Lolodorf, Kitongo and Salaki prospects- results are awaited.
During the quarter, Mega provided an update on its exploration in Canada (news release of January 12 2010) and reported that it had entered into an agreement whereby U3O8 Corp. would acquire all of Mega's South American uranium properties and $4 million in cash in exchange for 30.56 million common shares of U3O8 Corp (news release of February 17 2010). This transaction was completed in April 2010.
Stewart Taylor, Mega's President and Qualified Person under NI 43-101, has reviewed the technical information in this release and has verified the contents disclosed.
ABOUT MEGA URANIUM
Mega Uranium Ltd. is a Toronto-based mineral resources company with a focus on uranium properties in Australia, Canada and Cameroon. Further information on Mega can be found on the company's website at www.megauranium.com. Mega Uranium's Ben Lomond and Maureen properties in Queensland, Australia are subject to a state policy which presently prohibits the mining of uranium.
NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain information contained in this press release constitutes "forward-looking information", which is information regarding possible events, conditions or results of operations that is based upon assumptions about future economic conditions and courses of action. All information other than matters of historical fact may be forward-looking information. In some cases, forward-looking information can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release includes, but is not limited to, statements about our plans regarding future acquisitions and property development, our expectations regarding the uranium market, global growth and the use of nuclear power, our drill results, commodity prices and core intersection lengths, in that they constitute estimates, based on certain assumptions of mineralization that may be encountered if a deposit were to be mined.
By its nature, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to differ materially from those expressed or implied by such forward-looking information. Some of the risks and other factors that could cause actual results to differ materially from those expressed in the forward-looking information contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; and other risks and uncertainties related to the Company's prospects, properties and business strategy.
Although we have attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking information, readers are cautioned that this list is not exhaustive and there may be other factors that we have not identified. Readers are cautioned not to place undue reliance on forward-looking information contained in this release. Forward-looking information is based upon our beliefs, estimates and opinions as at the date of this release, which we believe are reasonable, but no assurance can be given that these will prove to be correct. Furthermore, we undertake no obligation to update or revise forward-looking information if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
All forward-looking information contained in this release is expressly qualified by this cautionary note.
NOTE REGARDING DISCLOSURE FOR MINERAL PROJECTS
This press release contains disclosure regarding our mineral resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources may never be converted into reserves. Furthermore, inferred resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Further exploration will be required to upgrade the inferred resources to a higher resource category.
SOURCE: Mega Uranium Ltd.
Investor Relations
Mega Uranium Ltd.
Richard Patricio, VP Corporate and Legal Affairs
(416) 643-7630
info@megauranium.com
www.megauranium.com
http://www.marketwatch.com/story/mega-uranium-ltd-releases-unaudited-results-for-the-three-and-six-months-ended-march-31-2010-2010-05-14?siteid=nbsh
Bloomberg
Kepco Is in Talks to Buy Australian Uranium Assets This Year
May 10, 2010, 1:52 AM EDT
By Jason Scott
May 10 (Bloomberg) -- Korea Electric Power Corp., South Korea’s biggest electricity provider, is in talks to buy Australian uranium assets this year to meet demand for the nuclear fuel, an executive said.
“We’re talking with some Australian companies, so I think we can get a result this year,” Chung Jae Wan, general manager of the energy resources team at the utility known as Kepco, said in an interview today. Kepco is open to buying a stake in a project or a company, he said.
South Korean uranium demand is expected to double to 8,000 metric tons a year by 2020 because of increased construction of nuclear power plants, Chung told a conference earlier in Perth. South Korea, which imports about 97 percent of its energy requirements, plans to add eight atomic plants by 2016.
Kepco wants to buy mines that are in the construction stage, and isn’t interested in companies that only have exploration projects, Chung said. The Seoul-based utility is now progressing toward its goal.
“Given the uranium price, operating costs need to be reasonable,” he said. “If they’re too high, it cannot be developed into a mine. We need to be very cautious. We need some projects with reasonable operating costs which can be developed into mines under the current uranium price.”
Spot-market uranium prices fell 6.7 percent between the start of this year and early May on reduced purchases from China and concerns about U.S. Department of Energy plans to cut uranium inventories.
Resources Tax
In remarks to the conference, Chung said Kepco is “taking steps” to increase its holdings in uranium resources. “We will need one or two investments in uranium mines every year,” he said. Kepco is keen to buy stakes in uranium mines in Africa, Mongolia, Australia and Europe, the company said in March.
South Korea currently operates 20 nuclear power plants and had imported its uranium mainly from Canada, Australia and Kazakhstan until Kepco invested in overseas mines last year.
Australia’s proposed tax on resource company earnings won’t have a bearing on the South Korean company’s potential investment because Kepco is focused on uranium security more than the profitability of any purchased asset, Chung said.
“Kepco is a very big company,” Chung said. “We don’t have any limits in our investments. It depends on how attractive the investment is to Kepco.”
Stories on Korea Electric Power: 015760 KS <Equity> BN <GO> Stories on South Korean utilities: TNI KOREA UTI BN <GO> South Korea’s energy statistics: ENST <GO> Top energy stories: ETOP <GO>
--With assistance from James Paton in Sydney. Editors: John Viljoen, Ryan Woo.
To contact the reporter on this story: Jason Scott in Perth at jscott14@bloomberg.net
To contact the editor responsible for this story: Amit Prakash at aprakash1@bloomberg.net
Good article. Thanks
Apr 26 2010 3:00PM Uranium Market Overview
http://www.kitco.com/ind/Resopp/apr262010.html
Uranium stands out from the other metals, having barely budged from the post-melt-down low.
Over the last year, nearly all of the metals have recovered from the lows following the financial crisis. The uranium price has been held back by a number of factors, which are poised to change over the coming weeks. As the uranium price finally begins to track the other metals higher, the companies in the sector will also come alive.
To a large extent, the sharp fall in the uranium price and the inertia at the bottom of the market is a result of the success enjoyed by uranium before the crash. Uranium, for a period, was the most popular of metals for many investors. The uranium price, and the prices of many of the companies, was driven to unsustainable levels.
For decades, a spot market for uranium barely existed. Nearly all of the metal was traded under long term contracts between suppliers and users. Suddenly there was an active spot market, propelled largely by investors. Uranium, which traded as low as $8 in 2002, reached a peak of $136 a pound in early 2007.
During that run-up in the uranium price, more than 400 junior companies suddenly became uranium exploration experts, at least according to their investor relations materials. The early stages of the financial crisis triggered the bursting of the uranium bubble. The sharp sell -off in uranium companies affected all companies in the sector. The good companies were sold off along with companies that never did have value. After such a steep decline, investors have been reluctant to get back into uranium. Yet, the fundamentals of the uranium market are exceptionally strong.
Demand for Uranium is Growing Strongly
Demand for uranium to fuel nuclear power plants is set to grow rapidly as the nuclear industry expands. The world’s appetite for energy is expanding at a fast pace, driven largely by modernization of the developing nations. At the same time as total energy demand is growing, there is a growing impetus to reduce the burning of carbon-based fuels.
Currently, nuclear energy provides 6% of the world’s total energy supply, including 15% of the world’s electricity. Some countries rely heavily on the nuclear industry; in the United States, nearly 20% of the electricity is produced from nuclear power and in France it is a whopping 78%.
There are now over 430 reactors operating worldwide and 56 more are presently under construction. Plants now in the planning stages number 136 units in 26 countries – mainly in China and India. China, struggling to reduce its reliance on coal, is expected to further expand its nuclear industry, and could see more than 100 nuclear power plants. The country has plans to stockpile the metal to avert supply shortages. In North America, existing nuclear reactors are being expanded (although at a slower rate due to the recession and permitting delays) and licenses are being extended. The U.S. stimulus plan has also dedicated funding to providing loan guarantees for new plants.
New generation reactors are more efficient than older units, and that will moderate the growth in demand. Nevertheless, over the coming years, usage of uranium as a fuel for nuclear power plants is forecast to grow at a fast pace. At present, annual global usage of uranium is around 150 million pounds.
Supply of Uranium is Constrained
Of the 150 million pounds of uranium consumed annually, only 100 million pounds comes from mines. Most of the balance is derived from converted nuclear warheads. In 1993, Russia and America signed a deal called “Megatons to Megawatts”, under which the Russians are converting a portion of their weapons-grade material from warheads into nuclear fuel for reactors. That material has been an important part of the uranium fuel market for more than a decade. Russia has given notice that after 2013 it will reduce or curtail uranium fuel sales to the rest of the world. Much of the original stockpile of weapons has now been converted, and Russia will require more fuel for its own expanding nuclear power industry. (That material will not be available to the rest of the world, but will be a component of the Russian supply.)
So, as demand for uranium is on a strong growth trend, an important component in fuel supply will be reduced. Clearly, the mining industry has a major task to grow supplies to match growing demand and to offset the loss of the Russian supply. In addition to nuclear fuel, new uses for this metal are continuing to emerge, adding further pressures to the supply picture.
Uranium is a fairly abundant element in the earth’s crust. Numerous deposits have been identified over the past few decades. Several companies are working towards developing some of those deposits. Exploration for new deposits is also continuing. Companies that make high grade discoveries are most likely to attract investor interest.
New supplies of uranium will be coming on-stream, but it is doubtful that new mine development will keep pace with both the growth in demand and the loss of the Russian supplies. Permitting any mine takes a long time, often years. Uranium mines are more difficult and time consuming to permit than other mines. For that reason, the uranium market will likely see a supply squeeze over the next couple of years.
Outlook for the Uranium Price
...............................................
Investor attention is focused on the spot price. Yet, more than 80% of trading in uranium is under long-term contracts. The size of the spot market was even smaller until investors began to take an active interest in the market in 2006.
It is important to note that the long term contract price has been consistently above the spot price since the collapse of the spot market in 2007. This shows that operators of nuclear power plants are prepared to pay substantially more for uranium supplies than indicated by the spot price.
Supply will grow, but is unlikely to match the growth in demand and offset the supplies now coming from Russia. The anticipation of a supply squeeze a couple of years into the future will see the market rebound in the near future.
Inevitably, the spot price will get back into alignment with the long term price. That thinly traded spot market could rebound quickly with any signal that interest is returning to the uranium market.
With new reactors set to come on stream over the coming years, operators will be lining up supplies. Add to that the likelihood that China will build a strategic stockpile, and it becomes clear that there will be new buying coming into the market.
With the spot price moribund, and the long term price stable, there has been no urgency. Once either measure begins to track higher, buyers on the sidelines will quickly enter the market.
At the very least, the spot price should realign with the long term price, and that would provide a strong boost to investor sentiment.
Implications for Uranium Developers
At this time, investors are tending to value uranium developers on the basis of the more visible spot price.
Using that measure, valuations are not terribly exciting. However, as the spot price moves higher, the valuations will be re-rated.
Compounding the issue at the moment is that the western world is mired in a period of slow growth. Therefore, industrial commodities like uranium remain out of favour for most investors. Companies in that sector are similarly unattractive at this moment.
Over the coming weeks, investor sentiment is almost certain to improve, for a number of reasons. First, the pain of the last meltdown is fading. Secondly, any rise in the spot market will trigger renewed investor interest. Most importantly, once investors begin to look objectively at the companies in the uranium space, they will see some compelling valuations.
Another important trigger will be further consolidation in the uranium mining industry. The large and the mid-tier producers have a firm grasp of the big picture in the longer term. They want to grow their production capabilities. There have been a number of deals over the past few years that brought small companies together to create mid-tier producers.
There is a huge value creation in going from a small one-project mining company to being part of a larger multi-mine producer. The combined entity often has a value well in excess of the sum of the parts before the merger. That boost in value comes from a number of sources:
The perceived risk is lower for a multi-mine company compared to a company where the entire value is dependent on a single mine.
The large size brings the combined company into the realm where it is owned by larger institutional investors.
The larger companies can afford a higher level of management and technical expertise, as the cost is shared over multiple operations.
The consolidation process is likely to add value to the shares of both the consolidator companies and to the acquired companies.
Anybody know why this stock is falling? Something i'm missing? Making me a little nervous. Still in at .64. I would appreciate any info . Thanks.
Thanks. Nothing but good news from this company.
Mega Uranium Ltd.: Lake Maitland Project Update
- Mega strengthens its Australian management team. - Western Australian Government finalizes level of environmental assessment and the environmental approvals process for the Lake Maitland Uranium Project. - Definitive Feasibility Study significantly progressed with the: -- completion of a trenching program to obtain bulk samples for metallurgical testwork program; -- commencement of metallurgical testwork program; and -- commencement of engineering and infrastructure design. - Cultural Heritage surveys completed and Socio-Economic Impact Assessment underway.
TORONTO, ONTARIO, Apr 8, 2010 (Marketwire via COMTEX) -- Mega Uranium Ltd. (CA:MG.A 63.25, 0.00, 0.00%) ("Mega") is pleased to report new additions to its Australian management team and an update on the development of its Lake Maitland Project in Western Australia.
MEGA STRENGTHENS ITS AUSTRALIAN MANAGEMENT TEAM.
Mr. Richard Homsany, B.Comm., LL.B (Hons), ASA, F Fin, will join Mega in the role of Executive Vice President, Australia. Mr. Homsany brings to Mega a wealth of experience in the resources industry including working for North Ltd, which was acquired by Rio Tinto Ltd in 2001. He also has considerable board experience with publicly listed resource companies in Australia. In his recent role as a Corporate Partner at the international law firm of DLA Philips Fox, one of Australia's leading law firms, he focused on the Energy & Resources sector including advising clients on capital raisings, mergers & acquisitions, finance, joint ventures, divestments and corporate governance. Mr. Homsany was an integral part of Mega's successful negotiations with the Japan Australia Uranium Resources Development Company Ltd ("JAURD") (through its subsidiary JAURD International Lake Maitland Project Pty Ltd) and ITOCHU Corporation ("ITOCHU") (through its subsidiary ITOCHU Minerals & Energy of Australia Pty Ltd) relating to the sale of a 35% interest in Mega's Lake Maitland Uranium Project ("the Project"). In his new position with Mega, Mr. Homsany will be responsible for directing Mega's Australian corporate operations and will lead the team that is developing Mega's strategy as it moves to become a uranium producer at Lake Maitland. Mr. Homsany brings to the role a detailed knowledge of the Project, as he was the Chairman of the then ASX-listed Redport Ltd., which owned the Project prior to its acquisition by Mega in 2006.
Mega is also pleased to report that Mr. Robin Jones, B.Sc. Mech Eng., has been appointed Project Director - Lake Maitland with responsibility for the management of the Project to production. Mr. Jones has 19 years experience in the mining industry in South Africa, China and Australia, with a focus over the last ten years on mine feasibility and development. His previous roles include Technical Manager of Acquarius Platinum's Kroondal Platinum Mine in South Africa and Project Manager of CopperCo Ltd's Lady Annie Copper Project in Australia.
Concurrent with these two appointments, Mega is pleased to announce that Mr. Peter McNally has been appointed Vice President, External Affairs. In this role Mr. McNally will focus on working with local, state and Commonwealth governments, and Mega's external partners, in advancing the Lake Maitland Project to production.
LAKE MAITLAND URANIUM PROJECT UPDATE
Environmental Approvals
Mega is pleased to announce that it has received advice from the Western Australian Government finalising the level of environmental assessment and the environmental approvals process for the Project.
The Project will be assessed as an Environmental Review and Management Programme ("ERMP"), which is the highest level of assessment in Western Australia. The public review period for the ERMP has been extended from 10 to 14 weeks, which is consistent with the review period for the other uranium projects in close proximity to Lake Maitland.
Corresponding to the established environmental approvals process, Mega has commenced the next stage with the submission of the first draft of the Environmental Scoping Document ("ESD") to the Environmental Protection Authority ("EPA"). The ESD, which is expected to be released for public review in July 2010, determines the content of the ERMP.
Mega plans to have the first draft of the ERMP ready for submission to the EPA for review towards the end of 2010, with the expected release for public review in mid 2011.
The Federal Government had previously advised Mega that the Project is a "nuclear action" requiring assessment under the Environment Protection and Biodiversity Conservation Act 1999 (Cth) and that it will be dealt with under the bi-lateral agreement between the Commonwealth and the Western Australian Government.
Feasibility Study
Mega commenced the Definitive Feasibility Study (DFS) for the Project in October 2009 with the appointment of key consultants and engineers to progress the necessary social, environmental, technical and economic studies for the DFS and the preparation of the ERMP. The consultants and engineers include:
-- Golder Associates - Lead Consultant
-- Independent Metallurgical Operations - Metallurgical Testwork and
Process Design
-- Intech Engineers - Engineering Design and Infrastructure
-- Outback Ecology Services - Environmental Studies
-- Aquaterra - Hydrogeology
In December 2009 Mega significantly progressed the DFS by undertaking a trenching program with the primary objective of obtaining bulk samples for metallurgical testwork. The 10-trench program also allowed validation of the geological interpretation, groundwater testing, and assessments of equipment and materials handling.
Metallurgical testwork of bulk samples is now underway at a number of specialist test facilities in Perth, focusing on resource variability analysis, unit operation optimisation and equipment selection. The program is expected to be completed in September 2010.
There is a second page. Link has the whole story...
http://www.marketwatch.com/story/mega-uranium-ltd-lake-maitland-project-update-2010-04-08?siteid=nbsh
Hello. Got in Mega today at .6437 with a large amount of shares for me. I think its time to get in. Hopefully its going up from now and not gonna look back. With the price of uranium going up and Mega getting close to starting a mine, this might be the bottom. Any thoughts? Thanks. Lb.
One of the better bottom calls out there for sure!
Looks like my timing was pretty good here! (for a change).
I'd be content with that, but it also wouldn't bother me to get some cheaper shares as well. Really nice to be in that position.
What an awesome moment to buy in... looks like this is finally breaking off of the longwinded bottom!!!
(MGAFF) Chart has us above the 20ema for the first time since late December. So far resistance at the 50ma, but above a downtrend line started from mid-Sept last year. Could be starting a technical reversal, but a little too early to tell.
Regardless, I bought today at .57/.58. Looks like a good long term play for me.
The time to be watching is now as we approach a possible double bottom... this is not performing as I had envisioned.
The tide has seemingly reversed... time to jump in the U308 water so to speak...
They'll come back. They have to keep the lights on. Nuclear is the wave of the future, wave of the future.
All my U308 stocks are getting bloodied... watching the sector closely.
Even the weekly chart looks beat up... buying more looks right... watching closely first.
Been sinking here but look who's buying...
http://www.mffais.com/mgaff.ob
And turn it did today... +9%
Looks a bit ugly but it will turn soon enough...
it may be a bull flag in an uptrend
more than a bearish..
God Bless
Back to 1.50... do or die here...
Mega Uranium Ltd Com (TSE:MGA)fiatz(CAD)$1.82 UP $0.06 (+3.41%
Bid 1.81
Ask 1.84
Volume 482,094
Day's Range 1.73 - 1.89
Click for Detailed Quote Page
Last Trade:16:12:40 EDT May-28-09
Uptrend still disticntly intact...
God Bless
Uptrend still disticntly intact...
Mega Uranium Ltd Com Npv (TSE:MGA)fiat(CAD)$1.91
Change $0.02 (1.06%
Bid 1.90
Ask 1.91
Volume 695,598
Day's Range 1.76 - 1.92
Click for Detailed Quote Page
Last Trade:13:40:16 EDT Apr-15-09
--
Bob... I have had a supreme challenge maintaining the boards
I mod after having learned the hard way...
they will be taken away if ignored 90 days or more so I have
a plan in place to keep these going while promoting
a little just to create awareness of these great companies
with great management.
CUL8R
Bob... I have had a supreme challenge maintaining the boards I mod after having learned the hard way... they will be taken away if ignored 90 days or more so I have a plan in place to keep these going while promoting a little just to create awareness of these great companies with great management.
CUL8R
Mega Uranium Ltd Com(TSE:MGA)fiat(CAD)$1.89 UP $0.14 (8.00%
Bid 1.88
Ask 1.89
Volume 1,100,765
Day's Range 1.75 - 1.89
Click for Detailed Quote Page
Last Trade:15:59:54 EDT Apr-14-09
This is a mega monsta on the move
FuturesJackal thanks, I made the MGA board up
before you made it to the mod
This is a mega monsta on the move!!!
Mega Uranium Ltd Com Npv (TSE:MGA)
Last Price (CAD)
$ 1.86
Change $0.11 (+6.29%
Bid 1.85
Ask 1.86
Volume 465,573
Day's Range 1.75 - 1.88
Click for Detailed Quote Page
Last Trade:11:22:16 EDT Apr-14-09
Still doing well holding all recent gains...
Still doing well holding all recent gains...
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Mega Uranium Ltd. is a Canadian mineral resources company with a focus on uranium projects. It has uranium resources in Australia and uranium exploration projects in Australia, Argentina, Bolivia, Colombia, Canada and Cameroon. In addition, it has interests in base and precious minerals exploration properties in Canada and Latin America.
Uranium has emerged as one of the world's most important sources of energy. This demand for electricity has been spurred by a global economic and population boom, particularly in countries like China and India. When considering new power generation technologies, countries are looking to nuclear, a clean, secure, and cost effective method of generating base load electricity. These considerations make nuclear the clear energy choice and Mega Uranium is at the forefront of this nuclear power renaissance.
Working with our experienced in-house uranium mining experts, our team is continually identifying quality uranium properties and projects for potential acquisition or partnership. With a successful track record of identifying and acquiring significant uranium resources, and a strong financial position, we are poised for continued growth.
Mega believes an investment in uranium exploration is an investment in the future.
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http://www.pinksheets.com/pink/quote/quote.jsp?symbol=mgaff |
Investor Info Including News & Share Structurehttp://www.megauranium.com/main/?investors
| Company Presentation | Complete Contact Infohttp://www.megauranium.com/main/?contact
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Cameco Corporation http://www.cameco.com/ Uranium Information Centre http://www.uic.com.au/ World Nuclear Association http://world-nuclear.org/ International Atomic Energy Agency http://www.iaea.org/ Nuclear Energy Institute, USA, major industry body. http://www.nei.org | U308 Links | World Energy Council |
Growth Strategy | Vision | |
Mega Uranium is building upon a successful track record of obtaining quality uranium deposits and uranium prospective properties worldwide through acquisitions, mergers and farm-in agreements with junior mining companies. Priority targets are high-grade, shallow uranium deposits that are amenable to low-cost open-pit mining techniques. By acquiring economically viable resources that can be put into early production, Mega aims to achieve its vision of becoming a mid-tier uranium producer in the near term. | Mega Uranium's vision is to become a mid-tier producer of uranium. Recognizing the global need for clean energy through nuclear power, Mega is aggressively expanding and exploring existing properties and will continue to acquire additional prospective projects. At Mega we are committed to discovering new sources of uranium - the clean fuel of today and tomorrow. |
Management Team & Profiles | Board of Directors & Profiles | |
http://www.megauranium.com/main/?management | http://www.megauranium.com/main/?BoardofDirectors |
Comprehensive Guide to Projects & Properties | Comprehensive Resource Regarding the Industry | |
http://www.megauranium.com/main/?properties | http://www.megauranium.com/main/?uraniumIndustry |
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Investment Uranium Will Rebound with Economy - (The Energy Report) Interview with Barbara Thomae, Senior Mining Analyst Mines
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