UKL

The stock with the biggest gains on the Australian Stock Exchange (ASX) in week 36 of 2006 week was Uranium King (UKL). The Winning stock of the week is newly listed and their share prices jumped upon listing and closed the week up 86 percent.

Uranium King (UKL) officially listed today and started trading ay 48 cents a share which represents a 92 percent rise from their float offer price of only 25 cents. The company was established to acquire, explore and potentially develop uranium projects within the United States. The company had planned to sell up to 26 million shares to raise $6.5 million. The prospectus had stated that Uranium King is planning to spend $5.19 million on exploration, while the costs of the initial public offer would be $455,000 and working capital needs would be about $943,000.