Fearful of higher prices and lack of availability, utility...

Fearful of higher prices and lack of availability, utility companies have been largely responsible to the high level of spot demand for uranium. Mineweb reports that, during a teleconference to discuss first-quarter 2005 results Monday, Saskatoon-based Cameco's Senior Vice President, Marketing & Business Development George Assie told analysts that Asian utility companies have generated 20 million pounds of new long-term uranium demand during the past two weeks. In the meantime, "demand for long-term contracts in the conversion markets is very strong," according to Assie. Asian utility markets generated 6 million kilograms in new demand in the past two weeks, he added.