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Uranium


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Pinetree developed a positive view of uranium in 2004 based on several macro factors including global growth led by China and India and the renaissance of nuclear power, seen as a clean reliable base-load generating technology. Growth in energy needs, primarily from China and India, combined with concerns for the environment continue to keep the price of uranium high. On the supply side, the flooding of the Cigar Lakeproject and Ranger mine are removing supply in the near and medium term. Unless a significant number of additional mines are brought to production soon, we see demand outstripping supply into the foreseeable future.

Pinetree began investing in uranium when it traded at $20/lb. With no official uranium market it is difficult to assess the spot price for uranium. Only small quantities of uranium were actually selling at the high levels seen in early 2007. At Pinetree, we believe a realistic spot price for uranium is between $80-$100 lb, a price which makes many new discoveries very economic to mine. Pinetree is investing in junior uranium companies that are not locked into historical contracts and as a result are able to take advantage of higher uranium prices when negotiating supply agreements.

 

Uranium Price - www.uxc.com
 
Uranium Investments as at September 30, 2009.

13,500,000 common shares
Continental Precious Minerals Inc. (CZQ: TSX)
Uranium
3,732,000 common shares
1,000,000 warrants expire May 6, 2012
Mega Uranium Ltd. (MGA:TSX)
Uranium 
10,000,000 common shares
54,200 warrants expire Feb 13, 2012
914,712 warrants expire Feb 22, 2012
Uranium
8,000,000 common shares
1,000,000 warrants expire Feb 22, 2010

Peninsula Minerals Ltd. (PEN:ASX)
Uranium
39,166,666 common shares
4,104,166 warrants expire Jun 30, 2012

Rockgate Capital Corp. (RGT:TSXV)
Uranium
8,125,000 common shares
500,000 warrants expire Mar 27, 2010
250,000 warrants expire Jul 28, 2011
Tournigan Energy Ltd. (TVC: TSXV)
Uranium
7,373,750 common shares

Uranium Resources:
 
The Ux Consulting Company:  http://www.uxc.com
Uranium Information Centre:  http://www.uic.com.au/
Trade Tech:  http://www.uranium.info/
World Nuclear Association – www.world-nuclear.org
World Nuclear News – www.world-nuclear-news.org
Canadian Nuclear Association – www.cna.ca
Uranium Information Center – www.uic.com.au
The Canadian Nuclear Society – www.cns-snc.ca
WISE Uranium Project – www.wise-uranium.org
The Australian Bureau of Agricultural and Resource Economics (ABARE)  - www.abareconomics.com
International Atomic Energy Agency - www.iaea.org
©Copyright 2010 Pinetree Capital Ltd.