I was wondering. PEN contracts are on average 67 US$ per pound. First to fulfill are those at lower levels (45-50$ maybe, I don't know), but those furthest, are even at 90$.
If PEN will have more free money, they can just simply go to SPOT, buy at 65$ and fulfill some contracts. But sadly, we don't know details of contracts. Are they have price floors related to SPOT.
This discrepancy between SPOT and long term price by Cameco (80$ lbs) is clear.
Also I think we are just in a beginning of a new uranium bounce. Uranium stocks are connected and moving in confluence.
I can clearly say, no matter what situation was (Wayne CEO and board succession in November), price always go back to 200 day average. Maybe this time will be also the same. If the tide of U stocks will be rising.
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