uranium price to rise as nuclear demand soars

And which gem of a company will be coming online just at the right time then???? :)

Have a great day PEN pals...I'm off to fish and ponder the good times ahead of us again.

Uranium price expected to rise as nuclear demand soars
By Richard Harris | 08:39:57 | 14 August 2008

Investment manager is expecting the price of uranium to rise to more than $100/lb, with founder Richard Lockwood citing as the only viable major source of clean energy.

Lockwood advises Geiger Counter, a closed-ended investment company that invests globally in companies involved in the uranium industry, such as AIM-listed Kiwara, Kalahari Minerals and Nufcor.

Geiger’s share price total return since launch has mirrored the spot price of U3O8 – a price indicator widely accepted by the uranium industry – reaching a peak in June 2007 as the underlying commodity went north of $135/lb before tumbling back down to $58/lb in May.

But with sub-$100 oil barrels a distant memory and coal following similar trends, Lockwood said he would be ‘flabbergasted’ if long-term uranium contracts from new nuclear power stations did not reach $100/lb or more within a year.

‘I think we will have a new pricing established and it will be by the people who are spending vast sums of money on power stations,’ he said. ‘There’s no point in spending $5 billion on a power station if you haven’t got the actual base commodity worked out.’

Lockwood insisted alternatives like would never contribute more than ‘a few percent’ of energy needs and, despite acknowledging lingering concerns over spent fuel disposal, believes nuclear is the greenest energy source.

‘Over the last year or two there’s been a groundswell of changing opinion and perception on the industry,’ he said. ‘The demand side is now very strong, but on the supply side there’s only a handful of producers of uranium globally.’
source: http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=311413