Hey mick,Without getting too technical, It looks like Pen is in...

Hey mick,

Without getting too technical, It looks like Pen is in the mids of making a U recovery.(much better Imo, and makes alot of sense considering the uranium price)

These comments below from Tradetech are encouraging for the start of 2010, especially when you consider that the DOE's sale has already gone and passed. "Bit of a fizzler really".


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December 18, 2009Only one transaction is reported this week in the spot uranium market. USEC has selected a winning bidder for the 200 tU (approximately 520 thousand pounds U3O8 equivalent) being sold on behalf of the US Department of Energy (DOE). Delivery will occur on or before December 31, 2009, and the winning bid does reflect a discount from published prices due to the quick payment terms sought by the seller. The proceeds from the sale will be used to fund clean-up efforts at the Portsmouth enrichment facility. The uranium market had slowed considerably in recent weeks as market participants waited for the DOE material to clear the market, and although the material has now been sold, the slowdown is expected to extend for the next few weeks due to the holiday season. Neither buyers nor sellers have exhibited any willingness to move from their respective positions. Sellers are looking ahead to 2010 and the potential for new demand to enter the market from financial entities and utilities, while buyers are content to wait for a signal that prices are moving before taking any action. As a result, TradeTechs Spot Price Indicator remains unchanged this week at $44.50 per pound U3O8.
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NK