Bob Kirtley_

Why You Shouldn't Own Cameco

I fully appreciate what you guys are saying, Cigar Lake and Cameco are undervalued in terms of a possible mine.

However, at the moment the issues with flooding make this a <em>potential<... world class deposit, but it is not much use if the flooding makes it impossible to mine. We still do not know when or if Cigar Lake will ever be operational.

You can invest in CCJ on the chance that they manage to fix the problems that they are having, but I would stay out of the stock until they do. I would prefer stocks like FRG as they are generating 200% annual returns, where Cameco is hardly producing any at all.

In conclusion to ride this uranium bull one should be buying stocks like FRG which are moving upwards with the uranium price. If one wants to bet on Cameco fixing the problems at Cigar Lake, then one should be buying Cameco, but it will not move much higher until the issues with Cigar Lake are sorted out.