There's No Such Thing as a Sure Thing — but Uranium is Close, page-16

you have a point about kaza/anu Physical investment
the physical investment side needs to see a probability of growth
if spot say is over $100lb most of the physical investment side would take caution in investing they missed the bus ?

but as u say if they are slowly feeding the spot and controlling price till they get there investment book filled
who knows ??

but not to overfeed there is still competition