nuclear-news

Spot price falls, as does exploration spending

Uranium: spot price falls, as does uranium exploration By Luke Brocki  Uranium Investing News and U3O8.biz  Jan 19, 2009 Spot uranium prices fell US$2 this week to US$51 a pound U3O8, according to price publisher Ux Consulting. And while rival publisher Tradetech’s uranium price estimate hasn’t budged this year, sitting stable at US$52 a pound, analysts suspect sellers are starting to soften, reducing prices to attract buyers. UxC says six-month delivery times on contracts are starting to gain in popularity, replacing shorter terms. This has historically been good news, but longer contracts won’t turn the tide in a soft market without help from a strong spot price…………………………According to the weekly uranium update from Toll Cross Securities Inc., junior explorers dropped 2% this week, advanced explorers fell 5%, production visibility companies fell 8%, and producers dropped 3%. The Toll Cross Junior Uranium Index, which monitors a basket of stocks deemed by Toll Cross as representative of the sector, fell nearly 5% to 163,85 from 171.74.

January 21, 2009 - Posted by Christina Macpherson | business and costs