Topic: How To Invest

Hello Pat: Could you please give me your opinion on UEX Corporation?

Article Excerpt

UEX Corporation, $2.19, symbol UEX on Toronto (Shares outstanding: 197.2 million; Market cap: $451.5 million; www.uex-corporation.com), has interests in 18 uranium exploration projects. The company owns 100% of six of these projects. It operates one project that is a joint venture with major French uranium company AREVA. The other 11 are also joint ventures with AREVA, and are operated by AREVA. In all, UEX’s properties consist of 338,972 hectares (or 837,618 acres) of land in the eastern, western and northern areas of the Athabasca Basin. That’s the same region that contains all of Canada’s producing uranium mines, and accounts for roughly 20% of global production. UEX was formed in 2002 under an agreement between Cameco Corporation (the world’s largest uranium supplier) and Pioneer Metals Corporation. In July 2002, UEX acquired all of Pioneer Metals’ uranium-exploration assets. Pioneer shareholders received UEX shares in return. Cameco contributed exploration properties, as well, and now holds 23.3% of UEX. UEX has moved up moved…