Uranerz Energy ( URZ) is beginning to show promise. The stock finished 2010 with a 210 percent return. It's based in Canada, but its exploration territory is centered in the Powder River Basin in Wyoming, an area that's been producing uranium for more than 50 years.

The company closed 2010 by completing $20 million in financing, and opened 2011 with a permit from the state of Wyoming to mine its Nichols Ranch Uranium project, which holds an estimated 5.5 million pounds of uranium. Now it awaits final Nuclear Regulatory Commission approval, with production expected in early 2012.

Uranerz Energy uses in-situ recovery (ISR) mining that injects groundwater to bring deposits up for processing, theoretically a minimally intrusive, low-cost extraction method.

The stock is up 26 percent so far this year.

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