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Buying Energy Fuels Inc. (EFR.T) Next Week

|Includes:Energy Fuels Inc (UUUU)

Readers know that one of my calls for 2013 is a recovery in the uranium price and re-emergence of the nuclear industry. The recovery from the post Fukishima nuking (pardon the pun) of the industry is underway. In reality the industry only slowed downed a bit after Fukishima but some stocks were crushed by 90% or more. One of these victims was Energy Fuels which has its operations in the US. Prior to Fukishima the company was putting together a decent package of properties and had some small scale production going. However after the price of uranium collapsed the company shut down production and went into hibernation. Recently, as the industry is now re-emerging and many are expecting the uranium price to move higher this year the company is again attracting attention. During the price meltdown the company made some moves, acquiring Denison's US operations, and solidified itself as the main player in US uranium mining. The company owns the only permitted operating uranium processing mill in the US.

The stock traded above $1.00 before the Fukishima disaster and is now around $.17. I think this is a worthwhile speculation on the recovery of the uranium price and this stock could more than double if the price of uranium goes higher this year. I will be initiating a speculative position next week.

Disclosure: I am long EFRFF.PK.

Stocks: UUUU