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www.miningmx.com | energy Downward pressures remain on uranium prices

Downward pressures remain on uranium prices
miningmx Allan Seccombe
2 Oct 2008 – “………………uranium companies face difficulties raising finance, raising the possibility of consolidation, Australia’s Resource Capital Research said.The spot price, according to Trade Tech, is $55/lb, down from last year’s all-time high of $138 reached in July.“Forward indicators (fund implied price – FIP) currently indicate an expectation for the uranium price to trade in the range $50-65/lb, potentially with downside trending pressure,” RCR said in a statement……………………………….Uranium companies, particularly the smaller players, have been hit hard by the down turn in the markets and global economic turmoil……………………….“Producers, however, could face significant challenges in financing and developing new projects, including spiralling cost pressures and potential delays variously relating to permitting, infrastructure development and commissioning,” it added.

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October 3, 2008 - Posted by Christina Macpherson | business and costs