- U recovering and there is more to come.
- Japan restart.
- China and US confirm nuclear as technology to reduce and manage co2.
- Fuk period coming to an end.
- Supply will be needed.
- Coming back from cold.
- 25% balance sheet recovery key
- Next phase of consolidation – neg several parties for association – process underway – choices have to be made by board among options open to it.
- Current funding will meet objectives.
- Speedy U recovery and speedy restart mean PDN can take advantage of increased prices.
- 3 months to solve scaling problem fully.
- Sales down
- 1.9mlb expected to be sold this q with prem on avg spot
- 190m us key step to repair balance sheet together with refinancing done
- Initiation of restart feasibility study for when prices recover – all parameters are known and risk is minimal effectively a step by step startup manual
- U market outlook slide 6 aug – nov 28 – 36/37 => spot market supply tightening due to cameco temporarily but prices held
- Russian restriction didn’t happen and still prices rose
- Up to 42 now => supply tightness and Jap restart
- Volume triple entire 2013 year without changing term prices this has absorbed slack and driven out some shorters
- Additional term contracting in next 6 months will test shortages post 16 and will increase 14/15 prices but at current level will not bring on new mines
- Each year new mines delayed, the greater the price action
- Reduction in global production that it underway FY14 production cut back is having an effect on supply and particularly the spot market
- 6 – 8 m lb cut back 4 m lb removed from spot into term contracts
- 45-50 m lb spot market volume but a lot of this vol is churn (trading?) estimate only 25m lb of production
- Phone cut out….
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Mkt cap ! $3.487B |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 1000 | 11.630 |
1 | 81 | 11.600 |
3 | 35587 | 11.560 |
2 | 1989 | 11.540 |
Price($) | Vol. | No. |
---|---|---|
11.670 | 6642 | 1 |
11.700 | 2000 | 1 |
11.710 | 100 | 1 |
11.720 | 300 | 1 |
11.740 | 2108 | 3 |
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