From Trade Tech - a little more good news as we approach the...

From Trade Tech - a little more good news as we approach the resource update for z1&2 in the next few weeks. Looks like the spot bottomed at $US40-41


The spot uranium price continued its climb upward this week, increasing $0.75 to $46.00 per pound U3O8. A total of over 1 million pounds U3O8 equivalent changed hands in seven transactions. Utilities, producers, and intermediaries all participated as buyers, but the bulk of the material was purchased by intermediaries. The most recent transaction was concluded at, or very near, today?s Uranium Spot Price Indicator. New demand emerged with two non-US utilities entering the market. While supply remains sufficient to meet current demand, the recent increase in the spot uranium price led sellers to raise their offer prices with each new sales opportunity. Buyers exhibited an increased willingness to pay higher prices to secure material as the week progressed and, as a result, the gap between willing buyers and willing sellers narrowed significantly.