SOURCE: The Bedford Report

The Bedford Report

May 10, 2011 08:16 ET

Uranium Resources and Denison Mines Face Increased Scrutiny Ahead of Earnings

The Bedford Report Provides Analyst Research on Uranium Resources and Denison Mines

NEW YORK, NY--(Marketwire - May 10, 2011) - It is now the heart of earnings season and investors are feverishly following results from the Uranium Industry. Shares throughout the uranium sector have failed to rebound following March's industry-wide selloff. This despite recent remarks from leading uranium producers assuring that the Fukushima nuclear crisis has done little to curb global demand. The Bedford Report examines the Uranium Industry and provides research reports on Uranium Resources, Inc. (NASDAQ: URRE) and Denison Mines Corporation (NYSE Amex: DNN). Access to the full company reports can be found at:

Much of Uranium's demand going forward is likely to come from China. Vice-president of the China Nuclear Energy Association, Zhao Chengkun, recently explained that nuclear is the only energy source that can be used on a mass scale to achieve the nation's goal of developing cleaner, low carbon energy.

Warren Edney, senior mining analyst at UBS, says China plans to increase its 13 operable reactors with an additional 110 by 2018, with 27 already under construction.

The Bedford Report releases regular market updates on the uranium industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Both Uranium Resources and Denison Mines are set to report earnings later this week. Investors will be focused on the forward guidances of the two companies after industry peer, Cameco, recently cut its 2011 revenue forecast. On the upside, Cameco said it sees continued strong demand for the nuclear fuel, despite the Fukushima disaster, and that a stronger Canadian dollar was the reason for the lower guidance.

When Denison reported its 2010 operating results, the company said 2011 uranium sales were forecast to be approximately 1.3 million pounds of "U3O8" of which just over 500,000 pounds will be sold into long term contracts. According to Denison, a total of $6.4 million will be spent by Denison on development stage projects in Canada and the US this year.

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