Uranium Stocks Take a Dive
Source: heraldsun.com (1/10/08)
The uranium bubble appears to have burst, with Australia's uranium stocks now 55 per cent weaker on average than all-time highs hit in April-May last year.
The strongest-performing Australian uranium companies during this period are all operating in the African nation of Namibia, home to the huge, partially Rio Tinto-owned Rossing mine.
This was the upshot of research by Perth's oldest brokerage house DJ Carmichael, which focused on 26 key uranium stocks including Rio subsidiary Energy Resources of Australia Ltd, Paladin Resources NL, Summit Resources Ltd, Deep Yellow Ltd, Alliance Resources Ltd, Bannerman Resources Ltd and A-Cap Resources Ltd.
DJ Carmichael head of research Paul Adams said the broker remained bullish on uranium stocks, but the wheat had certainly been separated from the chaff.