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URU Metals upbeat over long term prospects for uranium

Last updated: 07:40 30 Dec 2014 GMT, First published: 08:40 30 Dec 2014 GMT

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URU Metals (LON:URU) remains bullish over the long term prospect for uranium despite the difficult market for juniors.

“There is a growing supply gap in the uranium market that cannot be filled by current and future planned production, and the board anticipates growing demand and price appreciation for uranium and nickel in the short to medium term,” said chairman David Subotic.

URU’s main interests are the Narke shale oil/uranium prospect in Sweden and the Zebediela nickel project in Limpopo province, South Africa. 

The company had cash resources of US$351,000 and no borrowings at the end of the half year to September.

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