Bullish signals give uranium producers hope for market turnaround

Bullish signals give uranium producers hope for market turnaround

A mothballed uranium mine sits in the middle of the Utah desert Oct. 27, 2017, outside Ticaboo, Utah. North American uranium producers have responded to the spike in uranium spot prices with cautious optimism, hoping longer-term contracts from nuclear power utilities follow. Source: George Frey/Getty Images News via Getty News Uranium producers say nuclear utilities have begun exploring long-term contracts now that a Canadian uranium fund has slurped up much of the excess supply in the spot market.

Yellowcake prices have been low for over a decade since the Fukushima Daiichi reactor accident in Japan made nuclear power a pariah, a situation that boosted existing nuclear plants which could rely on the low-priced spot market to meet their needs. This summer, however, Toronto-based hedge fund Sprott Asset Management LP, a subsidiary of Sprott Inc., took the uranium market by storm, buying up millions of pounds of excess supply of […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet