Canam Energy’s stock moved up over 18% this morning on approximately 46,000 traded shares. This significant rise is a continuation of an uptrend established the first day of this month.
Increases in demand for alternative energy sources, such as nuclear power generated by uranium, have been caused by the continual rise in the cost of electricity, growing concerns over global warming, and the rapid decrease in available fossil fuels. With the increasing use of uranium in electricity production and the rise in mineral demand, the Company has great potential to increase revenues as it anticipates future uranium production from its mines.
Canam Energy has a promising property located approximately 100 kilometers northwest of Ottawa and is easily accessible by all weather paved or graveled roads. The recent discovery of uranium mineralization has rekindled interest in the property and exploration activity. The property is strategically located near many operational camps and an operating uranium mine.
According to ABS Energy Research, the average growth rate for global energy consumption will be 1.8% annually between 2000 and 2030. Because fossil fuels emit hazardous gases, the focus for energy supply has changed to cleaner alternative sources of energy. Nuclear energy is quickly emerging as an attractive solution and already produces 16% of the world’s electricity.
There is much potential for the company as fossil fuels continue to deplete and the demand for uranium continues to rise. Canam Energy is led by an experienced management team with extensive background in the investment and energy sectors, and has proved ability to secure needed project financing.
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