re: pdn - jim sinclair on uranium Here is some of the article from http://news.goldseek.com/AlfField/1075906047.php which can explain why uranium shares are in demand.
It may explain why the big buying came for PDN last week and why even at current prices of 7.5 cents there could yet be substantial upside.
"The price of uranium has doubled from $7 to $15.50 per pound over the past year. There is obviously a shortfall in the supply of uranium. Dines talks of the “coming uranium melt-up” and makes the following points:
1. Current annual demand for uranium is running at 155m lbs per annum (excluding growing usage by China and the old Soviet Union) compared to current supply of 94m lbs.
2. There are no additional pockets of supply that can come out and shock the market.
3. The price of uranium needs to rise by another 50% to over $22.50 to spur exploration and development.
4. Even then it would take many years to discover new deposits and bring them on stream.
5. The massive blackout in Canada and the USA in August 2003 has shocked power utilities because when they don’t pay attention, the lights really go out. They have begun immediate investment in long neglected infrastructure.
6. What has been under the world’s radar is that nuclear plants are concerned about a shortage of uranium, because when they run out of uranium, the lights likewise run out.
7. People running nuclear facilities would be out of their minds if they were not concerned about nailing down future supplies of uranium.
I have not been able to check Jim Dines’ assertions but I have no reason to doubt them. Logic suggests that he is right on the button and that the prospect is for a long-term bull run in uranium.
What is obvious is that uranium supplies that are either available now, or that can come on stream in the next few years, will command premium valuations."
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