Uranium names continue higher as Japan moves closer to nuclear restart

Top uranium miners rise for a second straight day after the Japanese government reversed plans to shift away from atomic energy, designating nuclear as an integral part in meeting the country’s long-term electricity needs.

PM Abe's plan, which is expected to receive cabinet approval in weeks, could open the door to restarting some of Japan's 48 idled reactors as soon as this year; the plan also hints at possible new reactors.

Japan’s turnaround on atomic energy has as much to do with finances as anything else; Japan's utilities have been making up the shortfall caused by the absence of nuclear energy by buying liquefied natural gas on the international market at record high prices.

Denison Mines (DNN +8.6%), which today announced high grade uranium intersections at its Phoenix deposit, and Cameco (CCJ +4.2%), Canada's largest uranium producer, continue to move higher; smaller miners are fading after posting strong gains yesterday: USU +3.3%, URRE -0.9%, UEC -1.1%, URG -3.4%.


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Comments (9)
  • DeepValueLover
    , contributor
    Comments (11220) | Send Message
    This is good for (OTCPK:TKECF)!
    26 Feb 2014, 03:42 PM Reply Like
  • P. Dennis
    , contributor
    Comments (401) | Send Message
    Meanwhile, American scientists announced yesterday that radioactive Caesium-137 with a half life of thirty (30) years will begin to wash onto West Coast beaches in less than a week.
    26 Feb 2014, 04:13 PM Reply Like
  • redavenger
    , contributor
    Comments (6) | Send Message
    Yes, but there's no reason to be mildly concerned, much less to post comments such as yours that imply a dangerous health situation. Chicken Little hysteria is not scientific. See: http://bit.ly/1hhxJhc
    26 Feb 2014, 04:20 PM Reply Like
  • DanielHolzman
    , contributor
    Comments (816) | Send Message
    The radioactivity of the Cesium 137 is about 1 becquerel per cubic meter of seawater. This is a vanishingly small amount of radioactivity, frankly it is amazing that it can be detected at all, certainly not an amount that is worth worrying over. The larger issue is the future cleanup required at Fukushima, which will likely cost many billions of dollars, and will take perhaps 50 years to complete. It is difficult to foresee if Japan has the resources and desire to actually complete the cleanup, note that the Russians have essentially abandoned Chernobyl, and have effectively created a no go zone around it.
    26 Feb 2014, 04:25 PM Reply Like
  • xtian13
    , contributor
    Comments (420) | Send Message


    Great point there on Chernobyl.


    In all seriousness, did anyone truly believe that Fukushima would be the end for nuclear energy?
    26 Feb 2014, 05:16 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (7059) | Send Message
    Well, it was pretty obvious that we can't get rid of nuclear energy anytime soon.
    26 Feb 2014, 05:28 PM Reply Like
  • Bwee
    , contributor
    Comments (2) | Send Message
    Are you guys in NLR? How far up do you think it has?
    26 Feb 2014, 08:28 PM Reply Like
  • eilea
    , contributor
    Comments (462) | Send Message
    lets go CCJ, DNN.
    26 Feb 2014, 09:53 PM Reply Like
  • bdelloid
    , contributor
    Comment (1) | Send Message
    Im going to gamble on DNN. I just hope there losses on their books will turn into gains soon!Go DNN
    27 Feb 2014, 08:37 PM Reply Like
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