NEW YORK, NY -- (Marketwire) -- 07/06/12 -- Uranium stocks have been on the upswing recently as Japan has restarted their first nuclear reactor since the Fukushima disaster. The Global X Uranium ETF (URA) -- the first ETF to track companies involved in uranium mining -- has rebounded over 12 percent in the last month. Five Star Equities examines the outlook for companies in the Uranium Industry and provides equity research on Uranerz Energy Corp. (NYSE: URZ) (TSX: URZ) and Uranium Resources, Inc. (NASDAQ: URRE).
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Uranium stocks were hit hard in 2011 after a Japanese earthquake and tsunami triggered the worst atomic disaster in 25 years. Following the incident Japan shutdown all 50 of their nuclear reactors, which were responsible for approximately 30 percent of the nation's electricity. Last week the Japanese government approved to restart the No. 3 and No.4 Ohi units in western Japan.
The "restart of the Japan reactors is likely to be the triggering event to start an upward movement in uranium prices and uranium stocks," said Steve Laflin, president and CEO of International Isotopes.
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Uranerz Energy recently announced that recent drill results from the 2012 exploration drilling program have confirmed the discovery of a new uranium trend at the Monument project in the Powder River Basin, Wyoming. "We are very pleased to see the level of mineralization at this stage of the exploration drilling in the Monument project area," said Kurtis Brown, the Company's Sr. Vice President.
One of Uranium Resources' primary focuses in New Mexico continues to be the advancement of its Churchrock Section 8 deposit toward production in the latter part of 2013. This area contains 6.5 million pounds of in-place non-reserve mineralized uranium material and is covered by the Company's underground injection control permit and reactivated NRC license which covers 27.4 million pounds of in-place mineralized uranium material for the Company's Churchrock/Crownpoint Project.
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