long term prices on the rise

Stumbled across this on the Bannerman board on stockhouse.com (forum in Canada):

From yesterday's Canaccord Genuity report:


AREVA has signed a record-breaking uranium supply deal with China. AREVA announced late Thursday that is has agreed to supply 20,000 tonnes of uranium over 10 years to China Guangdong Nuclear Power Corp (CGNPC) and that the contract is worth approximately US$3.5 billion. That works out to over US$79 per pound, which is significantly higher than the most recent long-term uranium price updates (~US$62 per pound) from TradeTech and UxC

confirmed this news here : http://www.reuters.com/article/idUSLDE6A32HW20101104

Now that is exciting!!