Message #25 From:
Stock News Bot Date: December 21, 2006 08:57:00 AM
URXE News OTCPicks.com Reports that UREX Energy (URXE) Should Benefit from Spike in Uranium Spot Prices
PROSPER, Texas--(BUSINESS WIRE)--UREX Energy Corporation (OTCBB: URXE) and other Uranium stocks including
Cameco (NYSE: CCJ), Usec (NYSE: USU) and Strathmore Minerals (TSX.V:
STM) are poised to move after a dramatic spike in the Uranium price.
Analysts predict that it will break through $100 a pound next year.The
spot price jumped 9.9 per cent this week to a record $72/lb, up $6.50
from last week. The metal started 2006 at $36.25, half its present
level. Worries about uranium supplies are growing, with 251 new nuclear
reactors either being built or planned compared with the 442 in
production.
The world's largest yellowcake producer Cameco says that its Cigar Lake
mine is flooded. Uranium experts wonder what this disaster does to an
already tight uranium supply. Perhaps this sheds some light into the
investment opportunities that exist with companies like UREX Energy
Corporation (OTCBB: URXE). UREX is focused on actively exploring and
developing uranium properties in Argentina and New Mexico. Urex owns a
99.8% interest in the Rio Chubut property comprised of 170,000 hectares
of land which is adjacent to the Cerro Solo Uranium deposit located in
Chubut Province within Patagonia of southern Argentina. Urex also owns a
100% interest in the La Jara Mesa Extension uranium property consisting
of 137 unpatented mining claims in the Grants Mining District, Cibola
County, New Mexico. The La Jara Mesa Extension property lies adjacent to
Laramide Resources Ltd.'s La Jara Mesa and Melrich uranium deposits.
Between 1950 and 1978 the Grants Mining District produced 270 million
pounds of uranium oxide which ranks it as the most prolific uranium
district in the United States.
About OTCPicks.com
OTCPicks.com is an Internet destination for investors seeking
information on smallcap and microcap companies. The web site features
companies in Profile Campaigns, Executive Interviews and Research
Reports authored by our financial writers. We publish our Daily Market
Movers Digest Newsletter to opt-in investor members. To feature a
company on OTCPicks.com, please contact our publisher, Brian Dean at
972-546-3740, or via email at publisher@otcpicks.com.
Forward-Looking Statement: This press release includes ``forward-looking
statements'' within the meaning of the federal securities laws, commonly
identified by such terms as ``believes,'' ``looking ahead,''
``anticipates,'' ``estimates'' and other terms with similar meaning.
Although the Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no
assurance that these assumptions will prove to be correct. Important
factors that could cause actual results to differ materially from the
Company's projections and expectations are disclosed in the Company's
filings with the Securities and Exchange Commission. All forward-looking
statements in this press release are expressly qualified by such
cautionary statements and by reference to the underlying assumptions.
Disclosure: OTCPicks.com has been compensated six thousand dollars for
URXE advertising and promotional services. OTCPicks.com is not a
registered investment advisers or broker/dealer. OTCPicks.com makes no
recommendation that the purchase of securities of companies profiled in
this website is suitable or advisable for any person or that an
investment such securities will be profitable. In general, given the
nature of the companies profiled and the lack of an active trading
market their securities, investing in such securities is highly
speculative and carries a high degree of risk.
