The Global X Uranium ETF is down 26.31% over the last 27 hours [and if you annualize that...-ed] closing at a discount to NAV yesterday.
In an earlier post I said that we were cautious but that energy markets were different now compared to 1979 when the accident ocurred at Three Mile Island. One of those differences is the attitude of China. As the number one consumer of energy, China's attitudes toward nukes are very different from those of the West, basically a politburo/dictatorship vs. democracy+pressure groups.
At some point the Chinese are going to say to themselves they should buy some uranium companies and the ETF's holdings page makes a handy shopping list:
|% of Net Assets||Name||Identifier||Market Price($)||Shares Held||Market Value($)|
|14.23||URANIUM ONE INC||B0V23L6||4.43||5,495,642.00||24,358,511.95|
|9.14||PALADIN RESOURCES LIMITED||6668468||3.99||3,919,726.00||15,642,312.87|
|6.42||EXTRACT RESOURCES LTD||6252991||9.91||1,108,648.00||10,987,802.59|
|5.09||ENERGY RESOURCES OF AUST||6317715||8.33||1,045,245.00||8,712,047.01|
|4.76||KALAHARI MINERALS PLC||B117S13||4.45||1,829,563.00||8,142,708.65|
|4.16||DENISON MINES CORP||2003223||2.55||2,791,980.00||7,120,640.07|
|3.89||URANIUM ENERGY CORP||916896103||3.92||1,698,342.00||6,657,500.64|
|3.88||URANIUM RESOURCES INC||916901507||1.75||3,791,275.00||6,634,731.25|
|3.66||MANTRA RESOURCES LTD||B1CK3B6||7.58||826,308.00||6,261,110.72|
|2.72||URANERZ ENERGY CORP||91688T104||3.20||1,455,474.00||4,657,516.80|
|2.45||FIRST URANIUM CORP - CAD||B1L81P1||0.84||4,979,317.00||4,198,930.42|
|2.09||GREENLAND MINERALS LTD||B1580D8||1.05||3,398,290.00||3,570,606.08|
|1.95||HATHOR EXPLORATION LTD||2323891||2.11||1,580,748.00||3,332,510.70|
|1.41||MEGA URANIUM LTD||2817833||0.57||4,252,534.00||2,405,279.41|
|1.24||FORSYS METALS CORP||2597801||2.11||1,004,334.00||2,117,322.81|
|0.97||BERKELEY RESOURCES LTD||6589473||1.22||1,362,084.00||1,665,088.90|
|0.97||BANNERMAN RESOURCES LTD||B07DXJ1||0.57||2,931,136.00||1,658,334.59|
|0.77||DEEP YELLOW LTD||6480275||0.22||6,042,467.00||1,312,504.83|
|0.44||TORO ENERGY LTD||B0Z3S54||0.10||7,410,881.00||748,717.53|
|-0.03||BRITISH STERLING POUND||GBP||1.62||-28,739.69||-46,512.63|
Here's some backround-
From the Asahi Shimbun:
China to build 60 nuclear reactors over next decade
China plans to build six nuclear power plants a year over the next decade, increasing its nuclear power capacity to more than 70 gigawatts by 2020, according to a top official of a nuclear power company.
From Xinhua, which along with Peoples Daily is pretty much the house organ for the ruling elite:
Liu Wei, vice president of China Nuclear Power Engineering Corp., which comes under China's nuclear authority, the China National Nuclear Corp., said in an interview with The Asahi Shimbun that China should have about 70 reactors online by 2020, more than now operating in Japan. Japan has 54 reactors.
Currently, China has 13 reactors with a total output capacity of 11 gigawatts. Twenty-five new nuclear power plants are already under construction, nearly half of all new facilities being built worldwide....MORE, including some real irony.
China not to change plan for nuclear power projects: government
BEIJING, March 12 (Xinhua) -- China will not change its plan for developing nuclear power projects but will learn a lesson after a massive earthquake in Japan resulted in a radioactive leakage, Vice Minister of Environmental Protection Zhang Lijun said Saturday.
"China has 13 sets of nuclear power installations in operation and tests have shown all of them are safe," Zhang told a press conference on the sidelines of the national parliamentary session in Beijing.
China is "keeping a close eye" on the development of the earthquake's impact on Japan's nuclear facilities, he said.
"Some lessons we learn from Japan will be considered in the making of China's nuclear power plans," he said.
"But China will not change its determination and plan for developing nuclear power."...MORE