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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (55996)	11/15/2004 11:37:32 PM
From: energyplay	Read Replies (1) \| Respond to of 74559

1) 2006 is 14 months from now. 2) hope springs eternal 3) Utilities have to sign up for Uranium well before they use it. Should be lots of contracts signe din early 2005 for delivery in 2006,7 etc.

To: Taikun who wrote (55996)	11/16/2004 2:19:07 AM
From: Seeker of Truth	Read Replies (2) \| Respond to of 74559

Hi David, $140 per share for Cameco does seem too high for now. However in eight months the hedges will start coming off and the market looks to the future. Their profits can increase without either an increase in production or an increase in the uranium price. Not a bad prospect. At the moment the real bargain, I think, is CNQ, Canadian Natural Resources. Management expects to increase production by 10% in 2005 and the number of shares will stay fairly constant. In addition if oil averages $42.50 US a barrel and the Canadian dollar averages 79 US cents then they expect earnings per share in the range of $6.35 to $7.10. I have sold some puts on this. Hope everything is improving for you. MB