I read in today's paper about the mining town and nuclear industry in the Czech Republic.
http://www.nytimes.com/2010/11/05/business/global/05uranium.html?_r=1&scp=1&sq=czech%20uranium&st=cse
Uranium production in the former Czechoslovakia peaked at about 3,000 tons annually during the 1960s, but the Czech Republic currently produces about 300 tons a year. That represents less than half of the country’s current needs.
Dont know what type of tons they are referring to but it would come out to around 600,000 lbs presently with the potential of 6,000,000 lbs per year. Currently, the price of uranium is around $50 per pound so the revenue from uranium could be between $30 to $300 million dollars.
The 'Times goes on to say:
Sensing the potential, an Australian and Czech joint venture called Urania resubmitted applications this year to explore sites near Straz, including at least one site that would be suitable for chemical mining, which is how the current toxic waste pool was created.
Doing some legwork, the Australian firm in question is called Uran Limited and trades on the Australian exchange. A very cheap option on the future of nuclear power in Eastern Europe.
Go to their site to learn more: http://www.uranlimited.com.au/
Or consider another cheap miner involved in Slovakia (where I read on Bloomberg's ticker that it strives to be the Singapore of Eastern Europe): Tournigan Energy, http://www.tournigan.com/s/home.asp
The stock used to be $3 and now about $0.20. They have real resources, but will they be exploited? That's why they are a bet on the future and where a guy can get ahead.
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