Jim Letourneau's Blog

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The Circle of Life - Uranium Juniors

The Northern Miner is reporting that JNR Resources (JNN-V) is being bought out by Denison Mines (DML.TO) for almost $10 million. JNR was one of the original long term uranium juniors. They were in the game before the boom. 

Long term chart of JNR Resources

Long term chart of JNR Resources

That last time JNR Resources was worth ~$10 million was back in say December 2003 when they had ~45 million shares out and were able to raise $700,000 at the lofty price of a quarter. That's when I wrote about them in The Big Picture Speculator newsletter.

The company peaked in 2007 when they were able to raise flow through shares at $4.70. JNR was valued north of $300 million at that point.

The bigger the boom, the bigger the bust.

Christ. Seven years of college down the drain.
— Bluto Blutarski