Jim Letourneau's Blog

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Uranium Companies make 52 Week Highs

There were a substantial number of Canadian Companies making 52 week highs today. I pulled out the uranium exploration and mining companies - there are probably less than 20 small-cap companies (ok penny stocks) with uranium properties. Seeing 6 companies out of such a small group is significant. There are still lots of Oil and Gas Trusts on the list as well.

JNN.V JNR Resources Inc.
LAM.V Larimide Resources Ltd.
UVN.V Uravan Minerals Inc.

CCO.TO Cameco Corp.
IUC.TO International Uranium

Uravan Minerals is a relatively new member of the "class of 52". They have property in the Thelon Basin which is prospective for uranium. The majority of Canadian uranium explorers are in the Athabasca Basin (the Saudi Arabia of Uranium). The Geological Survey of Canada, and academic researchers have been studying these basins for years. Each basin has a slightly different diagenetic history but they all have the potential to host rich unconformity type uranium deposits.
Not Advice

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I currently own JNR Resources Inc., Larimide Resources Ltd. and UEX Corp. - my positions may change at any time