uranium will reach us125 a pound

Uranium price spiralling
April 02, 2007 02:15am
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THE spot price of uranium will reach $US125 a pound this year from its current $US95, Resource Capital Research believes.

The researcher monitors a broad range of uranium hopefuls and actual miners from Canada, Australia, the U.S. and Britain.
It expects the price will touch $US140 by September next year.

RCR's latest report on the global uranium boom says "forward indicators continue to strengthen . . . with 48 new nuclear-power reactors currently expected to be commissioned globally by 2013".

It says the average share price of the 140 junior Australian companies it monitors had not moved in the past month but those prices had risen an average of 23 per cent over the past three months and 122ve per cent over the past year.

The researcher says the uranium spot price is now 45 per cent higher than three months ago and 78 per cent higher than its level of $US53.25 a pound six months ago.

RCR says it is confident this month's national ALP conference in Hobart will overturn the party's "three-mines" policy. That would benefit explorers in South Australia and Queensland the most.