Resources Top 5: ASX uranium stocks are heating up

Here’s your top ASX small cap resources winners in morning trade Monday, December 7.

A uranium boom is well overdue, if you believe the experts.

On Friday, a Senate Committee in the US – the world’s nuclear powerhouse — gave it a kick along, approving a bill advancing the creation of a US national strategic uranium reserve.

Uranium from companies owned, controlled, or subject to jurisdictions in Russia or China cannot participate.

Which is good news for our cabal of ASX-listed companies.

It’s green almost across the board in morning trade Monday:

US based Peninsula Energy (ASX:PEN) – which is up almost 20 per cent in early trade – reckons it will be just six months to production once it presses the button on the restart of its Lance project.

Aussie uranium explorer Alligator Energy (ASX:AGE) has high grade resources in the Northern Territory and South Australia; it acquired the latter in October.

Other uranium companies flying today include Africa-focused Paladin Energy (ASX:PDN), Lotus Resources (ASX:LOT) and Bannerman Resources (ASX:BAN) – companies that can ostensibly get into production quickly once prices improve to a certain level.

Paladin is a former producer at the Langer Heinrich mine in Namibia, which has been on care and maintenance but is ready to relaunch.

The company’s timetable envisages a restart of production by mid next year, with a fairly modest capital outlay of around $80m.

Lotus’ Kayelekera project in Malawi – purchased from Paladin in March – will cost just $US50m to get up and running, the company says.

Bannerman’s Etango-8 project in Namibia has been ‘reimagined’ as smaller scale mine initially, but with the ability to ramp up production as demand improves.