November 10, 2011 Uranium price could reach $100 per pound by 2013 Publisher: U3O8.biz Author: Dave Brown
Uranium investing interest could increase significantly according to the bullish outlook of Mark Lackey, Investment Strategist with Pope & Company with his forecasts for growth in the uranium mining industry.
"If you look at the consensus right now a lot of people are saying $60 to $65 [per pound of uranium] for the next number of years spot and maybe $70 long term. Long term is [currently] trading at $64 [per pound of uranium]. That is not particularly bullish. The reason that we have a different view is two fold. Number one we don't think some of the supply will come on when people say it will, because if you look at mining in general there are usually delays and we are seeing a lot of water issues in countries these days and economic nationalism. And the second factor is that the Russians will stop exporting highly enriched uranium in 2013 and where is that shortfall going to be made up? Some people are saying Kazakhstan and Namibia, I don't think we'll get the growth in those countries that a lot of people suggest they will. We think the prices will head up closer to $70 [per pound of uranium] next year and then in 2013 we can get back closer to $100."
PEN Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
