uranium $70/pound by end of the year?, page-4

Mate, there is no way uranium is going much higher. Assuing that current global uranium consumption is
approximately 78kt U3O8 per annum. Over the next decade, just three mines, Olympic Dam, Cigar Lake and Rossing South have the potential to increase global primary uranium production by an additional 33,600t U3O8 pa, or 43% above currentprimary production levels. OK - I accept that Olympic dam is not going into production any time soon. However, I would point out that these projects only represent a small fraction of uranium mines that are economically viable at current prices. Coupled with the expansion of additional MOX supplies, the large number of smaller discoveries threatens to inundate the uranium market.

The fact is, the number of nuclear power plants is roughly in equilibrium, with the total number forecast to decline modestly over the next decade or so. For every older, inefficient nuclear power station (typically built between the mid 1970s and 80s) being decommissioned is being replaced by substantially larger but more efficient power plant.

That is why this company has to go for coal. people are simply delusional thinking what they state on this line about uranium, and it doesn't match the facts.

Just look at India's recent blackouts this week. It needs power - and trust me - it an't going to be nuclear. Its coal all the way. it needs it now - and it needs it quick.

Please, please, stop talking about uranium - or this company will be 3c before you know it.