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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: El Canadiense who wrote (9370)	4/29/2005 12:11:01 PM
From: hotlinktuna	Respond to of 37387

LOL! Yeah it's trading a tad thin...

To: El Canadiense who wrote (9370)	4/29/2005 2:56:10 PM
From: Crossy	Respond to of 37387

re: FYI - Uranium miners Take an eye on this sector. I'm going to scope out the important players and will be trying to separate good, bad and ugly also.. Bill Powers last year demonstrated that Uranium demand is here to stay and even to grow materially going forward (new nuclear plants in China, India and the rest of the world). Due to new demand, less overhang from the decomissioning of nuclear weapons etc. fewer of this "secondary" enriched Uranium is available as reactor fuel. Consequently prices of Uranium have firmed from their absolute low of $7 some years ago to $24 right now.. (spot price quoted) Great link to uranium prices and industry info is here: www.uxc.com The Ux Consulting Company, LLC (UxC) should bode well for the sector - Rio Tinto says would could buy more uranium mines au.biz.yahoo.com Friday April 29, 2005, 1:12 pm (Adds details, chairman, analyst quotes, shares) By James Regan SYDNEY, April 29 (Reuters) - Global miner Rio Tinto Ltd./Plc. said on Friday it would consider buying more uranium mines, but declined to comment on whether it was considering a counter-bid for Australian nickel and uranium miner WMC Resources Ltd. "We would not exclude the acquisition of other uranium-related assets," Rio Tinto (ASX: RIO.ax) RIO.L Chairman Paul Skinner told reporters on Friday. WMC (ASX: WMR.ax) , which controls 38 percent of the world's known uranium at its Olympic Dam lode is under a A$9.2 billion ($7.2 billion), or A$7.85 a share, takeover bid from BHP Billiton (ASX: BHP.ax) BLT.L. WMC shares have traded above BHP Billiton's offer price since the bid was launched in March on speculation that Rio Tinto in partnership with Canadian nickel group Inco Ltd. N.TO or Swiss-based Xstrata XTA.L, would counterbid. WMC was quoted at A$7.95 in afternoon trading. Xstrata earlier this year launched an unsuccessful hostile bid WMC. "The new bid is rumoured to be in the region of A$8.40 and involve a scrip component," said Grant Craighead, an analyst for mining stock researchers Fat Prophets in Sydney. "The logic behind a joint bid would be that Inco or Xstrata would purchase WMC Resources' nickel assets, while Rio Tinto would retain and expand Olympic Dam," he said. BHP Billiton was forced late Thursday to extend the closing date of its offer for nearly a month after receiving only about 4.3 percent of WMC's shares. URANIUM REBOUND Skinner said world markets for uranium had rebounded strongly from a low-point in the 1990s, with nuclear power among a number of alternative energy sources garnering recognition worldwide, particularly in power-starved China, as oil prices rise. "China has quite a lot of energy issues to manage," he said. "I don't think China will be a smooth ride, but all and all it looks like a strong market for Rio Tinto." Rio Tinto already mines uranium from two deposits in Australia's far north through its 68.4 percent-owned subsidiary Energy Australia Ltd. (ASX: ERA.ax) . One of the mines is set to run out in 2011. Depletion of the world's stockpiles of uranium, a new generation of safer nuclear power plants and high oil prices were polishing the image of nuclear power and the outlook for uranium miners after years of depressed conditions. Spot market prices for the metal have doubled to $20 a pound in the last year. Olympic Dam was developed at a time of low uranium prices and is better known for its annual output of about 220,000 tonnes of copper and 100,000 ounces of gold. The concentrate, or ground ore, also contains uranium, which is segregated from the other metals, processed and shipped out in sealed drums. With no nuclear industry in Australia, uranium miners export all of what they mine, mostly to Europe and Asia. Rio was 1 percent lower at $41.68, in step with the wider Australian market. ($1=A$1.28) -------------------------------------------------------------------------------- More Quotes and Company Information: BHP BILLITON (ASX: BHP.ax) ENERGY RESOURCES OF AUSTRALIA LIMITED(ASX: ERA.ax) RIO TINTO LIMITED(ASX: RIO.ax) WMC RESOURCES LIMITED(ASX: WMR.ax)