However, although the spot price is up by more than 25% this year at about $31 per pound, it is still "not a price at which there is an incentive to reinvest capex", Rizvi said.
In the meantime, Kazatomprom has already made some "opportunistic" purchases on the market through its trading arm this year, executives said, and could need to buy more significant amounts of uranium in the coming months.
VMY Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
