Message #25 From:
NewsBot 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.
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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
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cautionary statements and by reference to the underlying assumptions.
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