Penny Stocks – Is it Time to Buy the Uranium Miners?

Penny Stocks – Is it Time to Buy the Uranium Miners?

With the disastrous failure of a nuclear power plant at Chernobyl in the Ukraine fading into memory, nuclear power as a source of clean electricity generation seemed poised for a comeback going into 2011. The price of uranium was on an upward roll. The following price movement chart is from the World Nuclear Association.

In March of 2011, an earthquake spawned a 15-metre tsunami with three nuclear reactors at Fukushima in Japan in its path. The three reactors were disabled, with the reactor cores melting within three days.

The world’s reaction was quick and severe, with Japan shutting down all their nuclear power plants and Germany shutting down seven of their total seventeen nuclear power plants. Germany now says all nuclear power plants will be phased out by 2022. Virtually all countries initiated safety reviews on existing facilities.While it seemed the […]

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