Resources Top 5: ASX uranium stocks are heating up
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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.