No, haven't heard of anything as high as $58. That broker has...

No, haven't heard of anything as high as $58. That broker has been quoting $53/54 since....

Indications from trawling through the various media and analyst pronouncements are that the spot will continue to inch up over next few weeks and months - things that could accelerate it short/medium term are;

- northern hemisphere autumn and winter is normally a season of increased U demand
- Japanese reactors coming back on line
- Global risk taking making a comeback - that probably needs both a solution in Greece and US avoiding a double dip
- dawning of reality that uranium demand is going to be driven by China/India and oil producers in the Middle East (e.g. Saudi/UAE etc.) and that Fukushima was a hiccup
- German and Italian electricity prices rising along with problems hitting European Union CO2 reduction goals plus imports of nuclear power increasing in both countries
- US EPA starting to restrict greenhouse emissions either through bans or through costs

the thesis for nuclear power / uranium is intact, just has not yet sunk in. Patience I think, but gut feel is that we are moving towards $60 in next six months or so.