news roundup

This quiet U boom is starting to pound at the markets door. There is so much positive news out there for Uranium its hard to believe this board is mired down in the daily price fluctuations of a vehicle that is steadily moving to twenty.

U mines in India at a near standstill for 5 days on a massive pay raise differential.
http://www.financialexpress.com/news/ucil-mgmt-calls-strike-illegal-unions-adamant/528194/
Meanwhile, Meghalaya is being heavily protested by the powerful student union KSU. Plans for early pre-mine prepwork are stalled, hard.

Tajikistan is out of the new U mine game. Supposedly turning its eye to older radioactive tailings management instead.
http://www.wise-uranium.org/udasi.html#TJ

Belgium extends the lives of its 3 oldest plants by 10 years. They have 7 plants. Expect more of the same.
http://in.reuters.com/article/oilRpt/idINLC21377120091012

Wyoming continues to lobby against the sale of some of the 153 million lbs stockpiled U the USA is planning to shove into the market. If they can hold this up expect a major impact on the spot price. Overall these lbs are irrelevant as they will be exhausted in 10 years time and will have no effect on the long term U price. Keep in mind 85% of U is sold in the long term market and expect Extract to get that price for as much of their U as they want.

The US also continues to move towards making nuclear industry strides. Cameco lists the US as building 5 new plants by 2017. That number is very likely to get boosted as energy talks progress.
http://www.cameco.com/uranium_101/markets/

Poland steps up to the plate. Theyre in for one plant.
http://dealbook.blogs.nytimes.com/2009/10/12/polish-power-firm-plans-17-billion-ipo/

Meanwhile, Australia remains firmly in the pocket of big coal. Rudd clearly has no plans to reduce emissions. Im not sure what you good people see in the guy.
http://www.tradingroom.com.au/apps/view_breaking_news_article.ac?page=/data/news_research/published/2009/10/286/catf_091013_100900_6120.html

BHP remains hushed about olympic dam, but as I previously posted, the best they can do out of the Whenan shaft is 18% of the previous years 4000 tonnes. This is an overestimate because the shaft has to preform all mining duties including hauling workers. Not to mention the fact that the actual Olympic Dam ore is no where near the end of the mine where Whenan is situated. When they finally own up to the Clark shaft repair time frame the Ore losses will shock the market.

And finally, U prices are really starting to rally.
UXC is showing $46.00 following a big $2.50 move.
MFGlobal showing $45.50
Expect a move on the nymex to get heads turning soon.

over and out
gizmo