While the spot price is a great indicator as is the state of mine closures it doesn't really explain what's going on in the heads of these Chief Nuclear Officers. Mike from VMY is very articulate on this matter. I believe the switch in decision making is or has shifted to CNO's. They will be looking three years out and hoping they can secure supply @ 50-60US a pound. This doesn't take into account the 20 new reactors scheduled this year.
If this makes sense to you then consider who this favours as there are very few who can meet this demand. PDN and BOE can deliver close to 12M pounds within 18 months between them.
I am pretty confident many contract discussions are under way at these prices and those that aren't in production can achieve their restart prices with a bit of patience.
Yes I would buy some in spot but the only way long term risk of supply can be managed is to contract a percentage of your 2022 supply today.
hopefully this post will generate some more strategic discussion
Spot vs Contract
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Last
$11.41 |
Change
0.340(3.07%) |
Mkt cap ! $3.411B | |||
| Open | High | Low | Value | Volume |
| $11.12 | $11.41 | $10.72 | $70.22M | 6.258M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 96833 | $11.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.41 | 41345 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |