It would be insane to think traders and utilities are not banging on BHPs door to secure supplies right now and for the future. They are and they are saying so!
The spot price for u308 hit USD$67 LBS yesterday. Cameco, Kazatomprom and Urenco and more have ceased/halted term contracting for 2023 and 2024. All have reductions in supply reduced held stored u308 and all have existing contracts with Flex up provisions removing spare capacity. I use the word 'Spare' with a smile on my face.
More than usd$50 million raise by the sprott physical uranium trust last week which has to buy any u308 it can find it. 500 million (?) by a interesting new Singapore based physical uranium fund run former head of Kazatomprom to buy any u308 from Kazatomprom Zuri invest amc rumored to be buying a little now. 7 plus tender for supplies required pending which possibly includes the first of the new demand from a Small Nuclear Reactor
The fact the u308 price rise from 25, 50, 60 and now 66 USD$ has not shaken spare stashed of U308 tells us a lot! That it will take 8 odd years and a USD$90-100 LBS price to get new mines F.I.D. to even start gives BHP and the other U308 miners a very bright time for the next decade and beyond. The existing mines life for others are interesting as well BHP has other options as well as Olympic Dam "is the largest known uranium orebody in the world." link
BHP Price at posting:
$44.10 Sentiment: Buy Disclosure: Held
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BHP has other options as well as Olympic Dam " is the largest known uranium orebody in the world." link
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