Mississauga, ON -- (SBWIRE) -- 02/02/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Makena Management Optimistic About Next Phase of Work on the Patterson Uranium Project."
Companies mentioned in this article include Uranium Energy Corp. (NYSE MKT:UEC) and Makena Resources Inc. (TSX-Venture:MKN).
Although uranium prices remain 50% below the level they traded at prior to the Fukushima nuclear power plant disaster in Japan nearly four years ago, the outlook is slowly but surely turning positive. Indeed, last year, uranium prices gathered some momentum towards the end of the year before seeing a pullback.
The rally was the result of the restart of a couple of nuclear reactors in Japan. Following the Fukushima disaster, Japan had shut down all of its nuclear reactors. The restart highlighted the Japanese government's commitment to nuclear energy despite the risk it poses. Another factor that contributed positively to the uranium market was increasing investment from China in nuclear power plants. The world's second largest economy has been looking to cut its reliance on coal as it looks to tackle pollution. Nuclear energy will play a major part in securing China's energy needs and the country has been investing heavily in the sector.
To add to these factors on the demand side, miners have also been cutting production. These developments will certainly lead to a fundamentally balanced uranium market although it may take a few years before we reach that point. Recently, Uranium Energy Corp. (NYSEMKT:UEC) issued a letter to its shareholders. In the letter, the company's CEO noted that for the first time in four years, the uranium market is seeing fundamental shifts in the supply/demand picture.
The improving outlook augurs well for Makena Resources Inc. (TSX-Venture:MKN), a Vancouver-based exploration-stage company engaged in the acquisition, exploration, and development of mineral properties in Canada and the U.S.
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