Uranium firms increase inventory from spot market

Uranium firms increase inventory from spot market

Uranium companies in Australia and Canada have announced purchases of physical uranium holdings. Boss Resources says its strategic uranium acquisition will strengthen its position as it moves forward towards the restart of the Honeymoon project in Western Australia. Vancouver, Canada-based Uranium Royalty Corp (URC) is to buy USD10 million of physical uranium through a supply agreement with Yellow Cake plc. The Honeymoon project (Image: Boss) Subiaco, Western Australia-based Boss has entered into binding agreements to purchase 1.25 million pounds U3O8 on the spot market at a weighted average price of USD30.15per pound, and is funding this by a "well-supported" AUD60 million share placement. Boss will acquire the first 0.25 million pounds by the end of April and the remainder by the end of June. The inventory is currently warehoused, at the ConverDyn’s facility in Metropolis, Illinois, where it will remain in storage.

"The stockpile will be highly valuable to us […]

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