uranium transfers canceled for 2011, page-6

lol, they are indeed some pretty big numbers. :)

But seriously, Even taking out that loose million word, I still see the figures wrong(and I may also be wrong too so DYOR)

But I'll give it a go anyway


Now I make it that 58,000t of natural uranium is equivalent to something like 127ml lbs, roughly about two and a half years supply for the US, considering they use I think something over 50ml lbs a year. And I have also read that they like to keep about two years supply always in stock in case of a uranium shortage. So given they have more than two years worth I guess this is possibly the reason why they are selling some off.

Now I don't know where murphy has got his 10,000t figure for the world annually. But the way I see it is that the world is currently consuming around 168ml lbs per/year or if you like roughly about 76,000t per/year.

Now just some more stats to ponder. World wide production is around 107ml lbs and as mentioned the world consumption is around 168ml lbs, with the shortfall being made up from the weapons downgrading, which by the way is coming to an end.

Add on top of that, 45 new nuclear plants are under construction and an additional 266 more reactors proposed. Just the current 45 being added to the grid is going to put enormous pressure on supply/demand. And I am not even accounting for the extra amount of uranium used to start up these new reactors when in the ramp-up phase.

So I guess as long as PEN can achieve what they have set out to do, then Imo we are in the right company at the right time.

NK