Too much attention is paid to that peanut - never argue with a fool
I like this below from Borshoff taken from today's Eureka Report
"The uranium boom remains very much intact – and best explained by the man who knows more about Australian uranium than most: John Borshoff, chief executive of Paladin Resources.
“To understand the uranium market picture a 50-metre swimming pool and a spa bath,” Borshoff says. “The spot market is the spa bath.
“It is important, and some people see it as similar to the spot market for gold. That’s not the case. Where spot serves a purpose is in a complicated fuel cycle where customers need to fill in the gaps because the full nuclear fuel cycle can take up to 10 years from yellowcake (uranium oxide) to fuel rods.
“What happens is that most market related contracts are the average of the spot and the term price. Meanwhile (long) term has been just steadily increasing while spot has been the gadfly, going up and down.
“Whether spot does this, or that, makes no difference because term prices haven’t changed one bit. Even when spot was $US130 a pound, term was $US95 and still is.”
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