Uranium Focused Energy Fund (UF.UN.TO)

Uranium spot price is around $45, which is about half where it was a year ago. Need demand from India and China to kick-start the whole cycle again. This is a 5 to 10 year story. 2009 can be a really strong year for nuclear as more projects get the attention of politicians.

A closed end fund based on uranium. Very thinly traded. Probably trades at a discount to its net asset value. There is a better uranium participation unit that holds real physical uranium.

His company is the manager and the adviser for this fund. Uranium has been hit hard lately. Feels it is at the bottom and expects it t do a lot better in the later half of 2008 as utilities start buying for the 2009 season. Quarterly distribution.

Excited about this uranium, because the only viable long term solution for electrical power generation is nuclear, and the only commercial fuel for a nuclear reactor is uranium. Canada is in a good position since it is the worlds leading producer of uranium. Think we are in the very early stages of high prices. (5 to 10 years).

About 80% uranium. Structure and platform looks very reasonable. Gives a diversification. Would prefer to buy a basket of uranium rather than a fund.