URANIUM export earnings surged 19per cent in the March quarter despite a fall in production volumes and producers are gearing up for an expansion in the industry after the West Australian Government overturned its ban on yellowcake mining.
Uranium stocks have emerged as the sharemarket's quiet achievers since late last year, but remain far from the giddy heights of 2007.
Energy Resources Australia, Deep Yellow, Toro Energy, Paladin Energy, and PepinNini are up by 162 to 344 per cent off their lows.
BHP Billiton and Toro Energy, in particular, moved quickly to advance projects after the ban was lifted in Western Australia.
BHP Billiton has begun drilling at its Yeelirrie project near Wiluna, and says it could be in production by 2014. The project, a proposed open-cut mine which already has a uranium mining lease, could have a life of 20 to 40 years.
Toro Energy has a uranium mining lease for its Lake Way and Centipede deposits at Wiluna and has already completed pre-feasibility studies.
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