NEW YORK, NY -- (Marketwire) -- 05/31/12 -- The Uranium Industry after a tough 2011 has begun to rebound. According to numbers released by the World Nuclear Association there are 61 reactors that are presently under construction, and plans to build another 162. Long-term Uranium prices have finally shown signs of movement since the Fukushima disaster. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Denison Mines Corp. (NYSE: DNN) (TSX: DML) and USEC Inc. (NYSE: USU).
According to Ux Consulting, long-term uranium prices increased 2.5 percent from $60.00 to $61.50 a pound. This is the first time the term price has rose since January 2011. Rob Chang, analyst at Versant Partners, suggested that the reason behind the uptick was a result of the Japanese town of Ohi's recent approval to restart two nuclear reactors. The local government voted 11-1 in favor of restarting the reactors. "Many view the restart of some of Japan's 50 idled nuclear reactors as a major positive catalyst for uranium," he wrote in a note.
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Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia. Denison's assets include its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership of the McClean Lake mill in Saskatchewan.
USEC is a leading world supplier of nuclear fuel and advanced technology solutions. USEC operates the only U.S.-owned uranium enrichment facility in the United States. The company reported a net loss of $28.8 million or 24 cents per share for the quarter ended March 31, 2012, compared to a net loss of $16.6 million or 14 cents per share for the first quarter of 2011.
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