Hi Jim,
I just heard that Energy Resources Australia (ERA) has declared force majeur at its Ranger uranium mine in Australia’s Northern Territory after heavy flooding caused by a massive typhoon.
This could take another 4.0 million pounds of U308 out of the marketplace which was facing crtical shortages even before the ERA announcement. Prices jumped by $5/lb on the news and might well be heading higher as the week unfolds. You can get the whole story from the following links:
http://www.stockinterview.com/News/03092007/Ranger-Flooded-ERA.html
http://www.stockinterview.com/News/03112007/Uranium-Spot-Price-ERA.html
It's also worth noting that production at Cameco's rich Cigar Lake deposit in Canada has been delayed indefinitely by a sudden water inflow into its underground workings. Last I heard, the company was hoping to make an announcement later this month about a new production startup date.
In any event, these are huge volumes taken out of the marketplace and future supply disruptions are possible among a range of critical commodities including metals and oil. Some that come to mind in the metals are copper and tin.
These are interesting times we live in. I wonder if the U.S. government has put any thought into acquiring strategic supplies of mineral commodities, seeing most of its suppliers are offshore. Sounds like a great idea to me but, hey, I'm not a politician.
Also today, I noticed a report stating that Australian gold output had fallen to its lowest level in 13 years and the country has now moved to third spot among the world's gold producers. Last year, South Africa, the world's largest gold producer by far, saw its lowest production in 84 years. Gold sales dropped to 275 tonnes, down from 297 tonnes in 2005. Sounds like an all too familiar refrain in this day and age.
- Forums
- ASX - By Stock
- MNS
- uranium at 90 question
uranium at 90 question , page-4
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MNS (ASX) to my watchlist
(20min delay)
|
|||||
Last
4.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $50.37M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
MNS (ASX) Chart |
Day chart unavailable
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, Managing Director & CEO
Charles Armstrong
Managing Director & CEO
SPONSORED BY The Market Online