I sure blew that short term call huh guys? With the 10,000 break and all the positive newsflow I thought we were headed for the new highs. I guess I jumped the gun. apologies. me perdoe.
Bu tthe good news still stands. In addition to uprates across the board in Japan, the stealth U bull is just starting to make headlines.
Like this one from fnarena: Spot U308 Rising and Rising http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=557DC895-1871-E587-E12D5E9A872A83B4
Nymex is posting big gains in the spot price as well and this will start to turn investors heads to the sector. Spot price hit $46.00. It seems like $50 will be the magic number to spark a real U sector rally.
In India the unions refused an offer for 19% wage hike. They are seeking 27%. 4,000 workers at their U mines are on their 7th day of strikes with no short term solution. http://www.telegraphindia.com/1091015/jsp/jharkhand/story_11616701.jsp
But the big U story continues to be Olympic Dam. News just came out that Oct 21 is the date they will formally announce how bad the situation is. As Ive already posted, They are likely to shortfall 3 million lbs in the six months it will take them to fix the Clark shaft. They will be forced to buy on a spot market that will be rising with speculators already. http://in.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idINSYD39539420091015
So I guess were range bound till next Wednesday, barring some well placed news release, and we all know there is no shortage of good stuff that Extract could be reporting if they werent so darn humble and unpretentious in their press releases!
boa noite pra tudo mundo.
EXT Price at posting:
$9.94 Sentiment: None Disclosure: Held
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