This showed up as an IPO offering on TD Waterhouse yesterday. Essentially, it's... let's buy Uranium... let's stockpile it... and let's wait for the price to go up.

A couple of short blurbs from the prospectus...

Purpose of the Company
The Company was created to invest substantially all of its assets in Uranium Products. An investment in Common Shares provides investors with the ability to effectively invest in Uranium Products in a manner that does not directly include certain risks associated with investments in companies that explore for, mine or process uranium. The Common Shares represent an indirect interest in the Uranium Holdings.

Investment Objectives
The Company’s primary investment objective is to achieve long-term appreciation in the value of its Uranium Holdings. Consistent with that objective, the Company intends to generate earnings on its Uranium Holdings through the buying, selling and lending of Uranium Products, thereby creating additional value for the shareholders of UIC.