Energy

The Market Oracle reports on uranium and the rare earth sectors.

The Market Oracle reports on uranium and the rare earth sectors.

The market news is quoted as saying:

Today’s markets offer us a prime example of the validity of our mission statement, “to boldly go where no one has gone before”. Seemingly obscure, but vital news items attract our eagle’s panoramic sweep.

Example: At one point Gold Stock Trades occupied the loneliest of perches. Hourly the media blasted barrages of negative gloom and doom stories regarding the demise of nuclear power and the shortcomings of rare earth development. We sensed that much of this news were contrived to sell advertising.

Thus today an important arm of China-The Hanlong Bank-announces that they are casting a covetous eye on a seemingly obscure nuclear miner-Bannerman Resources (BAN.TO), domiciled in Australia and owning two huge uranium deposits in Namibia.

Read between the lines, the main property is located next door to Rio Tinto’s (RIO) Rossing Mine, one of the largest uranium deposits in the world. Bannerman’s Management is resisting the Chinese offer of $.61 a share, claiming China is taking advantage of its low share price due to the negative publicity that befell the global uranium market post-Fukushima. (It is important at this point to highlight the very same Hanlong Bank just signed an enhanced agreement with one of our favorite and long followed equities-General Moly.

Click here to access the entire news.

 

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MARKETS

Markets
TSX20197.61+15.69
TSXV702.09-3.49
DOW31261.90+8.77
S&P 5003901.36+0.57
NASD11354.62-33.88
ASX7145.60+81.10

COMMODITIES

Commodities
Gold1846.53+0.13
Silver21.75+0.03
Copper4.30+0.02
Palladium1968.65+11.53
Platinum957.67+3.19
Oil110.35-1.86
Heating Oil3.62-0.05
Natural Gas8.06-0.25

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