latest news, page-39

and the EXT March 2011 Quartely Report

URANIUM MARKET
The first quarter of 2011 started well with the Ux Spot Price indicator rising from $62.5/lb to a high of $73/lb at the end of January; the Ux Term Price indicator rose from $65/lb to peak at $73/lb over the same period. The spot market in March was characterised by the reaction of speculators to the tragic earthquake and tsunami in Japan on March 11 and the subsequent shutdown of the reactors at Fukushima Daiichi nuclear station.

The Ux Spot Price indicator dropped back to $62.50/lb at the end of the quarter, but the Ux Term indicator was relatively unaffected finishing the quarter, down $1/lb, at $72/lb.

Extract has engaged with potential customers to assess demand for production from the Husab Uranium Project, and has identified several possible strategic contracting opportunities. Extract is confident that it will become an attractive supplier to end-users, as a result of the Husab Uranium Project?s ability to offer geographic diversification and long term security of supply.