URU Metals (LSE:URU) the London listed uranium exploration company who are currently drilling on their highly prospective Irhazer Uranim Project in the Republic of Niger, see their shares advance by 3.7% Wednesday as the market turns positive on uranium.
URU Metals is one of only a few London listed uranium exploration companies and the only London listed company with large scale exploration licences in Niger, where the world's fourth largest assured uranium resources exist.
Recently, both the United States and France have announced that nuclear energy will remain a strong feature of their energy generation mix. The United Kingdom is committed to the development of up to ten new nuclear power stations. There has recently been signs that the major uranium producers are looking to build up their resource inventories. Cameco's recent transaction with the private South American uranium exploration co, UrAmerica, where URU Metals has a 7.2% stake and the decision by Rio Tinto to place an offer for Hathor Exploration, provide some evidence of return to a more positive level of sentiment about the future of the uranium sector.
www.urumetals.com
