A junior uranium buy

Article Excerpt

CANALASKA URANIUM $1.16 (Toronto symbol CVV; SI Rating: Start-up) (1-800-667-1870; www.canalaska.com; Shares outstanding: 17.2 million; Market cap: $20.0 million; No dividends paid) has completed its 1-for-10 share consolidation. That lowered its shares outstanding from 171.9 million to 17.2 million. Consolidations, or reverse stock splits, sometimes hurt investor confidence. In CanAlaska’s case, it had little effect. Its shares shot up to $1.57 on November 8, before moving down to today’s price. The price jump followed a big move upward in uranium prices. In March of this year, uranium traded as low as $40 U.S. a pound, well below its peak of $140 in 2007. Prices recently shot up to as high as $58.50. China’s uranium imports have moved up sharply lately, to as much as three times last year’s levels. As well China recently increased its nuclear-power targets by 60% over the next decade. CanAlaska is still a buy, but for highly aggressive investors only. only…