Great presentation by Brendan today on RRS it highlights the Nabalek U40 and surrounds potential...
There were at least 10 x Q&A at the end - more than I have ever experienced in a RRS preso so a lot of interest in this presentation.....
Charts at bottom are AGE, PDN and DEV both PDN and AGE have pulled up on the Runaway? Gap...or is it another GAP?....Time will tell.
DEV looked again like breaking support but a lot of buying interest or accumulation taking place IMO...at we closed comfortably at 0.35c.
Wet season in NT is from Nov - April yearly average 62 inches with most of it in the wet season so best to avoid costly delays with bogged drill rigs on site. hence April start for drilling.
At least we have fired a shot over the Bow that we are serious U play even though only in the exploration space but they all get pulled up in a Bull run vacuum.
Sprott not potentially buying 1.3 billion worth for nothing
Top uranium miner Kazatomprom said it may supply the metal to Sprott Inc., the investment firm whose aggressive bets on the market have helped drive a surge in prices. “We already started talks with Sprott,” Askar Batyrbayev, chief commercial officer of the Kazakh producer, said in an interview.17 Sept 2021What could happen in this tightly held market....
The uranium spot price went from around $7 per pound at the turn of the century all the way to $140 in 2006 – when it moves, it moves fast. Uranium mining companies went up by even more than bitcoin. Then the bubble popped, and everything fell through the floor.
By 2010 it looked like a bottom had been found at around $40 and the price rallied to $70. It proved to be a suckers’ rally that was knocked out dead by the Fukushima disaster. That kicked off another price decline that went on for years, as bear markets do. By mid-2016 we were trading below $20.
But since then the price has found a bottom. It has spent a lot of time meandering around $20. It’s not going to go any lower than the 2016 lows, that much is clear. And it has started creeping up.
In 2018-2019 it ranged around $25. Post-Covid it spiked at over $30, then came back again to $28. Now suddenly it has spiked again and we are staring down the barrel of $50. It could almost triple and we would still only be around the 2006 highs. What happens if it goes above them? There’s a lot of potential.Apart from Uranium
In the next few weeks we will be drilling both Nangus RD and Sovereign so you can't complain about inactivity with this stock.......
Charts - notice how they have pulled up on the top of the gaps a good indication that the run will continue? or 100% retrace - IMO this is a rest until the next leg up....
Uranium does not trade on an open market like other commodities. Buyers and sellers negotiate contracts privately. Prices are published by independent market consultants UxC, LLC (UxC) and TradeTech.View attachment 3647972View attachment 3647975View attachment 3647978
(20min delay)