Spot Uranium Price Increases to US$95 per Pound - Uranium Mining...

Spot Uranium Price Increases to US$95 per Pound - Uranium Mining Stocks Rebounding

NewswireToday - /newswire/ - Sarasota, FL, United States, 03/25/2007 - TradeTech’s Nuclear Market Review reported the weekly spot uranium price indicator was raised to a record US$95/pound. Canadian uranium stock index shows uranium mining shares rebounding.

On Friday, TradeTech’s Nuclear Market Review (NMR) reported a record weekly spot uranium price increase to US$95/pound ahead of this coming week’s sealed-bid auction of 100 thousand pounds of U3O8 in Corpus Christi, Texas.

“Buyers remain willing to pay higher prices,” wrote NMR editor Treva Klingbiel. “Seven buyers continue to seek over three million pounds.” Three transactions took place in the spot uranium market, for immediate and June delivery, for just under one million pounds U3O8 (also known as yellowcake or uranium oxide). TradeTech, the consulting service which polls fuel brokers and utilities, posts changes in the weekly spot price on its website at uranium.info

In a related development, uranium mining stocks have rebounded the past two to three weeks, according to TheInvestar group which tracks 43 North American uranium companies and 25 Australian uranium companies. Matthew Smith, who produces the weekly uranium stock index, told StockInterview the uranium indexes could test their all-time highs over the next two months, as investors return to capitalize on the higher commodity price.

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