Another uranium operation closure offers hope
NEWS that Cameco was shutting down production indefinitely at its key McArthur River uranium operations in Canada is seen by ASX-listed developers as a good sign a sustainable and significant turnaround has to happen. The big question is when?! Bloomberg quoted one analyst as suggesting the spot price could jump to between 15-20% in the short term – from its current price of around $24 per pound – but it’s arguably a doubling a price that’s closer to what’s actually needed by producers.
AGE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
