Tim Boreham: Uranium‘s looking up

Uranium (U) radioactive chemical element, used in nuclear power, medicine, military and research. Promotional education periodic element 3D render. We hear the mood among the 550 delegates at last week’s World Nuclear Symposium in London was positively glowing – and there are good reasons why, given the uranium sector’s gathering momentum.

Supportive factors include dwindling inventories, a coup in uranium-producing Niger and Canadian giant Cameco curtailing guided production due to a lack of qualified operating staff (sounds like our railways).

At 180 million pounds, the uranium inventories of US and European utilities are at their lowest levels since 2008 and these power stations are expected to start buying.

Broker UBS notes the spot uranium price has traded above $US61 ($95) a pound in September – a 12-month high . The firm opines that while there is “much uncertainty on the demand and supply sides,” it expects the price to hit $US70/lb next […]

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