The worlds number 1 primary U producing country states that they are increasing 2010 production estimate from 15k to 18k.
Iran looking to purchase 1300 t of this increase helps mitigate some of this overproduction.
there is a lot to glean from this on a fundamentals level. Perhaps the most intriguing is Russia's obvious intent to control the world market on U just as they have Europe by the short hairs in terms of natural gas.
On a more simple level, there's just a whole heck of a lot more U coming to market next year then analysts were predicting.
IMO the sooner this buyout happens the better. With Kaz. able to up production at will U exploration and mining is not going to be a very profitable sector. And to be very candid about the whole situation, after the EXT game plays out I have no intention of investing in U companies for 2-3 years.
please don't get get snappy with me over tis, it is just my opinion and should be taken for the grain of internet chatter that it is worth.
EXT Price at posting:
$8.49 Sentiment: None Disclosure: Held
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