NEW YORK, NY -- (Marketwire) -- 06/19/12 -- The Uranium Industry has been showing signs of improvement recently as long term uranium prices last month increased for the first time since January 2011. Long term uranium prices jumped 2.5 percent to $61.50 from $60.00 according to Ux consulting. Demand for uranium is expected to grow as Japan has begun bringing reactors back online. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Denison Mines Corp. (NYSE MKT: DNN) (NYSE Amex: DNN) (TSX: DML.TO) and Uranerz Energy Corp. (NYSE MKT: URZ) (NYSE Amex: URZ) (TSX: URZ.TO).
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More than a year after the Fukushima disaster, which triggered three meltdowns and halted all 50 reactors in Japan, Japanese Prime Minister Yoshihiko Noda has ordered the restart of two nuclear reactors. These will be the first time the Japanese government have used nuclear power since the incident. A decision on the remaining 48 reactors will likely be held off until a new nuclear regulatory agency is created. Japanese parliament is expected to pass a bill calling for a new nuclear regulatory agency as early as next week. "We will increase our efforts to restore the public's trust over nuclear safety regulation and atomic energy administration," Noda said, following a meeting with ministers.
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Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia. Denison's 2010 production from its two mills was 1.4 million pounds U3O8 and 2.3 million pounds of vanadium. 2011 production is estimated to be 1.2 million pounds U3O8 and 2.2 million pounds of vanadium. Shares of the company are up over 8 percent in the last month.
Uranerz Energy Corp. has a processing agreement with Cameco, the world's largest public uranium company and has entered into long-term uranium sales contracts for a portion of its planned production with two of the largest nuclear utilities in the U.S., including Exelon. Shares of the company have rebounded nearly 10 percent in the last month.
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