I'd say the shorts are getting nervous after the update. Borshoff from DYL told fuel buyers and utilities, F... you two days ago. There will be no new mines and therefore supply until HIGHER term prices. 190 million lbs of demand 2025. 150 million lbs of supply. 106 million contracted 2024. Most utilities are contracted for 2028 / 29. As stated previously, the uranium market lives 5 years in the future. Contracts for supply 2030 need to be signed this year. There was a notable absence of contact buying late 2024 and so far 2025, due the current economic climate. They will be back, they have NO CHOICE. China is building 30 nuclear power stations currently with plans to build another 70. WHERE IS THE SUPPLY COMING FROM.? Camaco have said there will be no increased production at current term prices. 25% of the Boss float is short. What the hell are they thinking.? The fear and the squeeze will be epic.
BOE Price at posting:
$2.55 Sentiment: Buy Disclosure: Held
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