Ann: Trading Halt, page-77

The spot price has had every reason to go sub $30 over the last few months, end of Japanese fiscal year at the then end of March when inventories could have been sold into spot, (Japan was touted as a holder of large amts of inventory) traditional end of month dumping by traders, the Kazakhstan Tenge was hammered down because of the oil price getting hammered so ideal for Kaz to sell into spot... and none of this happened, so it won't be retreating below $30 in the short term.

If Kazatomprom move into the spot market that may move it but I think we'll see the big moves once the term contracting volumes are reported to Trade Tech/UxC. The spot price can move independently but it has a symbiotic relationship to the term pricing so that's when the big moves will come imo.

Cheers and good luck