Uranium price tipped to soar after Kazakh strategy shift, page-23

Great find j6...

I didn't find this in the nymex chart and it could be anomalous. Having said that, it's now public that out if their $20m raise, UPC as they should have, I wonder if I goaded them into it - purchased 560,000 lbs at average of just over $20 around 2nd November (funds only received by UPC on 27th October US) when spot price was a dot lower than that. (Ie: pay up bit more for volume).

Note also UPC shares sit at 15% premium to spot. Why? Because investors would be aware anyone going with that volume to buy U won't get it at spot.

But before we pop champagne corks, would be good to confirm if this IS the bottom, and we'll never know until it has passed. So let's see. All reporting to date has been to suggest that end of year interest will indicate lots of inventory selling off...so an uptick to this level would, IMO prove unexpected.

Perhaps just a larger player trying to offer up bigger to take a larger slice of inventory?

As I've been saying - this IS the story. We haven't, as yet seen any large dumping from DOE this end of month (reserving judgement into next week), but that's not to say they were dumping but a buyer was happy to pick it up. Perhaps UPC are in the market for remainder (~440,000 lbs) and/or have already snatched it.

Could be interesting. My head tells me it's still a '17 story, only because the mkt is about to go to sleep. And all I've spoken to about the utilities is that they are too slow moving, beaurocratic and lack agility to be able to be opportunistic buyers at the bottom. They've been fed the line for 2-3 years that "just in time purchases" will suffice by heads of utilities, so at best they'd be seeing a large increase before justification surfaced to give utilities a case to move on contracting.

But you never know what can get done when one side is asleep. I always do my best buying over Christmas/New Year. Then I go to back to sleep. Unfortunately, I've been asleep far too much lately!

Cheers


Gav