Reach_k, ura_bull is spot on, and if you look at VMY's own...

Reach_k, ura_bull is spot on, and if you look at VMY's own consensus price slide, US$55/lb looks conservative.

The other thing to keep in mind is that the U market never behaves as if driven by long-term supply-demand fundamentals, and it tends to undershoot and overshoot prices that would support steady supply.

I guess the 55US$/lb threshold is the trigger for FID, with the hope of capturing some of the upside through spot/uncommitted contracts at the time.