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.
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.