U308.Biz—Vancouver, February 21, 2007Record Increase in Uranium...

U308.Biz—Vancouver, February 21, 2007

Record Increase in Uranium Price

Ux Consulting Company, LLC, and TradeTech have increased U308 prices US$10 to a record US$85 per pound.

This US$85 spot price marks a new record for uranium confirming research analysts’ predictions that mine production continues to fall short of demand, and that inventories being sold into the market reflect the supply-demand deficit.

According to Adam Schatzker of RBC Markets, investors can expect to see the price of uranium continue to rise throughout 2007 and predicts the average price will be US$100 per pound this year.

As of December 2006, there were 435 reactors currently in operation producing 368,246 Mwe of power. There are 28 reactors under construction, 64 planned and more than 158 have now been proposed globally with more added to the every month.

The 435 operating reactors require approximately 180 MMlbs of U3O8 equivalent. 110 MMlbs of U3O8 is supplied by primary production with the balance being made up from secondary sources including mixed oxide (MOX) fuel, national and utility held inventories (both strategic and commercial), Russian LEU exports, recycling programs, Tails assay adjustments, DOE sales and HEU.

Buyers are eager to stockpile supplies at fixed prices, while sellers view the uncertainty about remediation efforts by Cameco Corp at its Cigar Lake uranium project as an opportunity to hold out for higher prices.

“Uranium is in a super bull cycle, fueled by supply shortfalls amid rising demand as the world increasingly turns to nuclear for clean, commercially-viable, long term energy solutions. Today’s increase in the spot price is a reflection of the uranium shortfall and provides investors with added confidence in the uranium sector,” says Mr. Gomez.