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Uranium company floats do bestRESOURCES companies have won the top five places in a list of best performing new floats for this quarter, with uranium companies well represented, a report shows.The top performing entrants to the stock market were Yellow Rock Resources Ltd, Wolf Minerals Ltd, Prime Minerals Ltd, Sovereign Metals Ltd and Bowen Energy Ltd, the Deloitte Touche Tohmatsu's initial public offerings (IPO) update report for the March quarter found.All the companies are explorers, with interests respectively in uranium and vanadium, tin and tungsten, uranium and gold, copper and gold and coal and uranium."Interest from investors in uranium was a key factor, with three of the top five companies involved in uranium exploration," report author Deloitte corporate finance partner Steve Woosnam said."Resources companies accounted for the top 13 places in a ranking of all IPOs in the March 2007 quarter by performance."The best industrial float was (pharmaceutical firm) Cyclopharm, which gained 17 per cent since listing."As at March 21, Yellow Rock's share price had grown 320 per cent since listing, Wolf Minerals added 424 per cent, Prime Minerals climbed 200 per cent, Sovereign Metals improved 122 per cent and Bowen Energy expanded 88 per cent.Another uranium play, NuPower Resources Ltd, has gained 350 per cent since listing on March 16, but was not included as it was a spin-off from Arafura Resources NL and did not offer shares publicly.In addition to investments in uranium through explorers, the price of yellowcake itself has also been on the rise, edging closer to the $US100 per pound mark.
Uranium company floats do best
RESOURCES companies have won the top five places in a list of best performing new floats for this quarter, with uranium companies well represented, a report shows.
The top performing entrants to the stock market were Yellow Rock Resources Ltd, Wolf Minerals Ltd, Prime Minerals Ltd, Sovereign Metals Ltd and Bowen Energy Ltd, the Deloitte Touche Tohmatsu's initial public offerings (IPO) update report for the March quarter found.
All the companies are explorers, with interests respectively in uranium and vanadium, tin and tungsten, uranium and gold, copper and gold and coal and uranium.
"Interest from investors in uranium was a key factor, with three of the top five companies involved in uranium exploration," report author Deloitte corporate finance partner Steve Woosnam said.
"Resources companies accounted for the top 13 places in a ranking of all IPOs in the March 2007 quarter by performance.
"The best industrial float was (pharmaceutical firm) Cyclopharm, which gained 17 per cent since listing."
As at March 21, Yellow Rock's share price had grown 320 per cent since listing, Wolf Minerals added 424 per cent, Prime Minerals climbed 200 per cent, Sovereign Metals improved 122 per cent and Bowen Energy expanded 88 per cent.
Another uranium play, NuPower Resources Ltd, has gained 350 per cent since listing on March 16, but was not included as it was a spin-off from Arafura Resources NL and did not offer shares publicly.
In addition to investments in uranium through explorers, the price of yellowcake itself has also been on the rise, edging closer to the $US100 per pound mark.
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