Uranium Week: Banks & Microsoft Go Nuclear

Weekly Reports | 10:00 AM

Hyperscaler Microsoft follows Amazon into a major nuclear energy supply contract but this fails to lift activity and price enthusiasm in the spot market. Paladin’s Fission acquisition in question; Lotus Resources scoping study reveals higher costs and global banks commit to nuclear funding.

-Spot uranium market remains in the doldrums
-International Atomic Energy Agency forecasts on the up
-Is Lotus the new Paladin? -Financing drought breaks -Short sellers lift positions Lack of activity becalms spot market In what transpired as another listless week of activity, industry consultants TradeTech report the spot market experienced a lack-of-buying interest, with downward pressure on the U308 price, as sellers sought to attract buying interest.The spot price declined -US$0.75 to US$79.25 with a further 50,000lb transactioned after the close of market on Friday at US$79lb.TradeTech explains the disconnect between the spot market and the more bullish longer-term scenario […]

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