This is a reasonable fear to have and I definitely agree that...

This is a reasonable fear to have and I definitely agree that this will happen. But it is of my belief that the more spot price rises the more interest that will be generated for the sector, because everybody has a memory of what happened in 2004-07 / 2010/11. There will be investors that will only come into the space when they see the spot price significantly run e.g. $30 => $45, not everyone is willing to sit and wait patiently for the sector to take off. With this increase in interest in the sector, there will be more investment into SPUT and YCA, driving more purchases of uranium. I see it being a self perpetuating cycle, with the price action driving the narrative and the narrative driving the price.

So if there is a large amount of delayed selling that will hit the market at $50, I welcome that, because the initial move in spot will have happened and that will be enough of a spark to ignite the sector and wake up a lot of more mainstream investors to the opportunities in the uranium space.

The other thing to note is that a move from $30 => $45/50 uranium is enough to get utilities to really assess their contracting positions and their exposure to the upward price movement in the future and bring them one step closer to contracting. They are the 800lb gorilla of the sector, when they come in to contract, all bets are off and anything that brings that day one step closer is a good thing IMO.