Indian Takeaway

Australia's uranium stocks are set to bounce again propelled by the expected opening of the Indian market. Ironically ERA, one of the biggest pure-play uranium stocks, has been dragging its heels.

By The Prospector ·
6 Mar 2006

Prime Minister John Howard's willingness to “reconsider” Australia's ban on uranium sales to India following a policy reversal by the United States last week is set to unleash a new round of investor excitment in uranium stocks.
After a burst of activity over the last year ' in the wake of a 70% lift in uranium prices over 12 months ' uranium stocks are due for another surge in speculation in the weeks ahead.

The list below shows that one of the market's biggest pure play uranium companies ' ERA ' has been trading poorly compared to some of its rivals, especially Paladin and Extract Resources. Among the Top Ten uranium stocks ' measured by their proximity to 12-month highs ' ERA is sitting squarely at the bottom of the ladder trading at $11.90, a long way from its peak of $17.30.

TOP 10 URANIUM STOCKS NEAREST TO YEAR HIGHS
Code	Stock	Last Price	Year High	Year Low
PDN	Paladin Resources Ltd	$3.94	$3.95	$0.95
EXT	Extract Resources Ltd	$0.09	$0.10	$0.02
AGC	Agincourt Resources Ltd	$1.50	$1.72	$1.20
SMM	Summit Resources	$0.75	$0.88	$0.27
GIR	Giralia Resources NL	$0.27	$0.31	$0.12
MRX	Matrix Metals Ltd	$0.07	$0.09	$0.05
MUR	Murchison United NL	$0.09	$0.12	$0.05
MTN	Marathon Resources Ltd	$0.63	$0.80	$0.15
RRS	Range Resources Ltd	$0.04	$0.06	$0.02
ERA	Energy Resources of Australia Ltd	$11.90	$17.30	$8.55
* Figures at close of trade Friday March 3 2006