In the past few days, Northwestern Mineral Ventures (OTC:NWTMF) has had a heck of a run, coming up from the 70 cent range to trade up over a dollar. As one of my readers pointed out this weekend, the surge is likely a response to Friday’s news that Northwestern’s new partner in Niger, Uramin, has agreed to be acquired by Areva. Uramin and Northwestern each have equal stakes in the development of NWTMF’s land concessions in Niger, so a mop up bid by Areva for NWTMF certainly seems to be within the realm of possibilities.
That being said, with the stock up 40% from my buy price, it is never a bad idea to take some profit off the table on a highly speculative play such as this. I continue to hold a small holding of NWTMF for its future potential, but due to its speculative nature, I prefer to limit my exposure by booking some nice gains.
NWTMF.OB 1-yr chart