I had a wonderful four day weekend, which culminated in a celebration. I would share that spirit with each of you on this fine evening. I hope all is well wherever you are.
Catching up on today’s action, the signs are beginning to shift to CCJ’s favor. The stock rallied another 3.7% today.
This is a long awaited development.
Back in early 2011, after the Japan earthquake set off the greatest nuclear threat since 3 Mile Island, sheer panic had set in the public broadcasters. I watched, amazed, as men and women with no special understanding of nuclear power drowned out actual industry experts on live television with their warnings of calamity and doom.
No claim was too exorbitant. The calls for widespread death and pestilence were matched only with the audacity of the foregone conclusion that nuclear energy must be completely dead.
I let my pipe burn out, tasting only the lingering roast of the cayuga, as I shook my head in disbelief at this spectacle…
And then, I laid my reputation on the table and began slowly accumulating shares of CCJ, right in the midst of the panic as a nuclear reactor literally melted down on international television.
Now, this is actually the second time I’ve seen a strong resurgence in CCJ’s stock price, leading me to believe in the possibility of a price recovery. The stock had hit the mid teens earlier, and after that discernable bottom, I thought perhaps those days were past. Alas! It was not to be. CCJ’s shareholders proved themselves cowards with the recent collapse of U308 spot prices; incapable of seeing the greater theme.
This rally could be just another such fake. Yet, I have reason to believe it is not. There is great timing of the move, which coordinates with significant developments in the uranium space. Japan has announced they will fast track a discussion of nuclear energy – I believe they have no choice but to continue on the path. Germany (which previously announced a full scale out of nuclear power) has made decisions appertaining to their grid which make abandoning nuclear power impossible. The US has been rather cheerful about nuclear, finally giving permission for the construction of the first new nuclear power plant in decades. China is pushing full steam ahead. India has signed fuel trade agreements with Canada. And Russia is done flooding the markets with HEU from decomissioned warheads.
Whether or not this is the triumphant finale to my symphony remains to be seen. I wait with bated breath.If you enjoy the content at iBankCoin, please follow us on Twitter