Categories: Energy / General Market Commentary
Topics: General Energy / General Market Commentary

Yes, the uranium market is bad but remember gold's turn?

Yes, the uranium market is bad but remember gold's turn?

Michael Allan McCrae 

Investors considering uranium should take heart from gold's rise coming off of last year's lows, says Dev Randhawa, Chairman and CEO of Fission Uranium (CVE:FCU).

“Right now, people are scared to be in uranium, but that’s where they should be,” says Randhawa who spoke to MINING.com at the Sprott Natural Resource Symposium in July. Fission Uranium is an exploration company working on projects in the Athabasca Basin.

"The state of the uranium market is very bad right now. If we were having the same conversation about gold last year—how bad gold is, it’s never coming back and all the doomsayers saying it was going to $500/oz. And what do we have today?"

Gold companies are up this year. Goldcorp is up 38% year to date to $16.02 and Newmont Gold is up 125% to $40.52. Meanwhile, uranium companies are being pummeled. Industry leader Cameco is trading at $9.30, near its 52-week low. The company has lost a third of its value in the past year.

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