Reloading for the Uranium Bull
Contributed Opinion

As MarketWatch, among others, is REPORTING, the most active gold contract closed the day and week yesterday at a new all-time nominal high.

This came as a fresh wave of inflation numbers were more or less in line with expectations . . . fresh signs emerged of a slowing economy . . . and recently-rebounding long-term interest rates fell back down hard.

Gold

Likewise, gold's record has been bolstered by continuous robust physical demand for the metal, most of that from outside North America.

Yet the universe of gold-related equities continues to languish. The two best-known ETFs that represent this space — the VanEck Gold Miners ETF (GDX:NYSEARCA:) and the VanEck Junior Gold Miner ETF (GDXJ:NYSEArca) are still down, respectively, by 57% and 80% from their major 2011 peaks.

Remarkably (or not?), this equation hasn't improved much even over the last few months, and gold has managed to stay north of $2,000/ounce.

As I have pointed out incessantly for some time, among the few missing ingredients needed before a broad-based new move for gold and gold equities can occur is a GLARING one represented by those above dismal ETF stats. I spoke of this just yesterday with the C.E.O. of my latest looming new recommendation in the gold space, which our members will receive separately at the beginning of the week.

I'll be recapping this negative ongoing dynamic in the upcoming Members-only issue as well AND later this month in a special issue focused solely on precious metals.

Uranium

Happily, the lot in life for uranium equities has been far more positive for a while now. Still, though, even that action has been largely relegated to the biggest names; the average exploration junior in the uranium space has yet to participate, but that will be changing once the next major surge higher begins to unfold.

For present purposes of our recommended portfolios, I, in recent days, advocated paring back notably on a uranium-oriented allocation that was the biggest position (sector-wise) we had at a bit over 20% of a total portfolio recently. That was via whittling down our ETF exposure; this, as the uranium price is finally undergoing a meaningful correction after its white-hot run of the last year especially.

In the end, these have been among the most profitable portions of our portfolio for a while now.

We will be beefing up our exposure a bit anew sooner rather than later, but at least somewhat by moving "down the food chain." And that is because, in part, when the next big move comes, retail investors will be much more of a factor than they have been to date.

This does not mean we get reckless, but it does mean we should look for the best stories out there of under-covered companies that have the kind of unique attributes that will count at some point.

Blue Sky Uranium Corp.

So far, one uranium "junior" is on my recommended list: Blue Sky Uranium Corp. (BSK:TSX.V; BKUCF:OTC; MAL2:FSE).

As you will learn in THIS NEW INTERVIEW I just posted with the company's C.E.O. Niko Cacos, the chief reason they have this place on my recommended portfolio is that they "check a box" that pretty much no other such company does.

And it's a chief reason why there is a path for Blue Sky's flagship Ivana Deposit in Argentina to be in production in just the next two to three years if all goes according to plan, whereas other juniors will be waiting a decade or longer to bring their uranium to market.

This is a true outlier, folks; and while still speculative, the just-announced upgrade to the main project's P.E.A. augurs well for this project to end up getting the support it needs for development. That is especially so, in my view, given the interest of Blue Sky's customer-in-waiting.

Important Disclosures:

1. Chris Temple: I, or members of my immediate household or family, own securities of: Blue Sky Uranium. Idetermined which companies would be included in this article based on my research and understanding of the sector.
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