reality check, page-51

hi phil,

here is a quote from geoff combs, the president of uxc at mining indaba on feb 4.

"there is currently a dichotomy in the market where the spot price is under downward pressure as near-term supplies exceed demand, but the long-term contract price, which relates primarily to deliveries that begin several years in the future, is holding steady and may even be under some upward pressure, as the supply/demand balance is much tighter over this time horizon".

i also like his reference to a “rhinoceros market” which charts the u price in 2010 to be $180/pound.

cheers