That's what I was thinking.....
Everyone seems to be concentrating on Spot Price whilst the Term price is still below the incentive price. In fact, the Spot/Term Prices are out of sync compared to history, unless we're at the top of the market!! Imo the Term Price going higher will equal overall higher U valuation floors.
Why June and why sustainable? RFP activity (aka Term Price setting mechanism) seems extremely low at the moment but that won't last and there should be new contracts signed before mid-year. It seems like Cameco have given away all their free material now, and so higher prices should be reported going forward (who's selling at less than $75 in 2024?)
Over the weekend there was a 21mlbs RFP issued and so it looks like 2024 has finally started. How many 21Mlbs RFP's can this sector handle at the current term market pricing?
EL8 CHART, page-583
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Last
28.5¢ |
Change
-0.015(5.00%) |
Mkt cap ! $102.2M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 30.0¢ | 28.5¢ | $237.9K | 822.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 175021 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 98219 | 4 |
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| Last trade - 10.31am 12/11/2024 (20 minute delay) ? |
| EL8 (ASX) Chart |