‘We cannot stress enough the fragility of supply’: Canaccord says uranium stocks will run higher

There won’t be enough supply to meet the market’s appetite for uranium, says Canaccord. Picture: iStock The uranium spot price is taking a breather in the high $US80s a pound, following a scorching run through the psychologically important $100/lb mark in late 2023, early 2024.

The equities trade has also died off somewhat alongside prices, and perhaps as shinier prospects, like gold, take centre stage.

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Still, Canaccord Genuity says the structural supply deficit which triggered this long-awaited, +200 per cent spot price run in the first place – from $US28/lb in August 2021 to $US88/lb currently – has not gone away. Spot uranium price over the past 5 years. Source: Tradingeconomics Nuclear power, seen as critical to global decarbonisation, is becoming mainstream again. Conservatively, CG expects capacity to expand at a compound annual growth rate of about […]

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