Uranium Price: Chit Chat
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Topic: Uranium — May 18th, 2007
We take a quick whiz around the world picking up some interesting commentary:
A quote in The Australian from Bob Clearly, chairman of Crossland Uranium Mines:
“Uranium has just reached a selling price of $US120 per pound, and there is nothing on the horizon to dampen the strong market demand for the power plant fuel.”
The Globe and Mail has an article by John Partridge investigating the meltdown price of uranium in which the following quote appears:
“Even having uranium cost 10 times as much - on the order of $1,000 a pound - would only increase the cost of nuclear power from 5 cents to 6.2 cents,” said CNA spokeswoman Claudia Lemieux.
The CNA is the Canadian Nuclear Association.
Mineweb quotes the U.S. Energy Information Administration as follows:
“In their annual uranium marketing report, the U.S. Energy Information Administration determined a total of 27 million pounds of unfilled uranium contracts exist for contracts for 2007 to 2016.”
In a piece on Stock Interview.com we spotted the following comment:
“In a brief interview we had with University of Montana professor of mining engineering Courtney Young, this past February, he encapsulated the entire problem facing the uranium mining and nuclear sector in a few powerful words, “The public doesn’t know where their energy comes from.” He told us most people just think you just plug the ‘thing’ in and it works. And he was referring to highly educated college students, not the chefs in fast-food joints.”
Just food for thought, but it would appear that uranium is still at least partly undiscovered and that there is more to come by way of investor interest.
URANIUM: Never mind the width feel the thinness!
Uranium: Spot price up another $2.00 to $80/lb
Uranium: Spot Price Up another $4.00 to $84/lb
Uranium now at $93/lb!
Uranium: $110/lb for December delivery
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When will you folks do an in depth report (or update) on the exploration activity in the historic Lisbon Valley uranium district of southeastern Utah?
Comment by Metal Exchange — May 19, 2007 @ 7:22 am
Checkout this article.
Robert
FP Trading Desk
Uranium names from Canada getting attention on Wall Street
This time last year, many U.S. money managers may not have recognized names like Denison Mines, Uranium One or Energy Metals Corp. But now, thanks to soaring uranium prices, supply constraints, accelerating demand from new nuclear reactors, and plenty of buzz, Canadian-listed names are turning heads on Wall Street.
This was definitely evident at a recent uranium conference in New York hosted by Raymond James’ Equity Capital Markets Group, where some 200 registrants represented U.S.-based hedge funds, other institutional money managers and consultants.
“It’s definitely a change from this time last year” when Raymond James hosted a conference in Montreal and Toronto, said Bart Jaworski, a Raymond James analyst and one the events hosts. “We felt that at that time, there wasn’t as much interest in New York and it’s really been night and day since.”
American portfolio managers have become much more savvy about companies that trade on Canadian markets, many of whom presented at the conference. This has particularly been the case in the past twelve months or so, Mr. Jaworski added, pointing to their race to get up the learning curve on uranium as well as interest in names like First Uranium Corp., UraMin Corp., Equinox Minerals Ltd., Tournigan Gold Corp. and Denison, to name only a few.
In an industry that has been plagued by under-investment, investors are looking for companies that can produce quickly in order to cash in on uranium prices that some see as peaking now or in the near future. They are also looking for the next takeover target or company that is able to make that key acquisition.
And despite the fact that the subject matter may be relatively new to many of them, the topics of discussion were far from a Uranium 101. Going beyond standard supply and demand issues or price forecasts, speakers addressed more sophisticated issues like how prices will be impacted by the new futures contracts for uranium launched this month on the New York Mercantile Exchange in collaboration with Ux Consulting. Other topics included nuclear economics, substitution and limits on enrichment, Mr. Jaworski revealed.
Attendees were also interested in the impact of the decision from Australia’s Labour Party to go “pro-uranium” and how quickly mine supply will come out of the country.
“The conclusion was that although it’s heading towards going pro-uranium, it’s by no means a slam dunk,” Mr. Jaworski said. “There are going to be lags to deal with.”
Jonathan Ratner
Comment by Robert — May 19, 2007 @ 6:12 pm
We are fairly confident that Queensland will open up its market to uranium miners but there is always the risk that they just might not.
Comment by Uranium Stocks — May 20, 2007 @ 12:38 pm
We get lots of requests to research lots of areas and countries and companies that we just don’t have enough hours in the day to get to - but we will try and cover Utah.
Comment by Uranium Stocks — May 20, 2007 @ 12:41 pm