Chinese investor steps in to block Paladin’s Fission Uranium buy
CGN Mining Company, a subsidiary of China General Nuclear Power with a 11.26% stake in Fission Uranium, is obstructing the tie-up.
Daily Markets reports on uranium stocks and nuclear energy will make a rebound.
The market news is quoted as saying:
A significant base may be forming in uranium stocks — seen in the Global X Uranium ETF (URA) — as Japan’s troubled nuclear energy industry passed its first major vote since the Fukushima tragedy. Many of the stocks that make up this ETF are down more than 40% such as Uranium Resources (NASDAQ:URRE) and Uranium Energy Corporation (UEC). But positive news is beginning to reemerge after three months of naysaying. Fukushima is proving nuclear is here to stay.
