I believe that the increased production by Kazatpmprom is mostly committed to forward contracts( I read it somewhere but can't cite the source)They need to increase production to meet their contractual obligations, so they won't be flooding the market with excess material. Grant Isaac has said this a number of times that Cameco and others will not produce Uranium without a guaranteed home. China is on a huge reactor build program and with Kazakhstan next door I would bet that Kazatomprom will be supplying a lot of that material. The forecast of uranium demand by WNA also indicates supply needs to increase to meet the demand. I can't see U prices pulling back significantly in the future, I think it will continuously head north and by the time SLX are enriching the depleted tails we will be getting a pretty penny for our product.
SLX Price at posting:
$3.50 Sentiment: Buy Disclosure: Held
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