Uranium price update thread
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Well that doesn't surprise me considering the December futures hit $97.30 this week. But it's only Saturday, usually the spot is announced on a Monday? Where did you get your info from? I can't find the info anywhere. It's great news anyway.
Well I seem to have found the story that talks about U at $90 a pound. It was published on Nov 1. Unsure whether the price announcement was made available officially? pre Friday nights trade to affect movement? But then again the US was volatile to say the least, so that wouldn't have helped.
Friday nights TSX stocks CCO and UUU did modestly well, but PDN lost 10c to close out at 7.35 which I was disappointed with. It will be interesting to see how PDN. (Aust) fairs on Monday. It will either drop a little or stride out and show some leadership once it becomes more widely known of the price rise.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ams8z6WYf84I
Uranium Advances 7% After Delays, Cuts by Cameco, Uranium One
By Yuriy Humber
Nov. 1 (Bloomberg) -- Uranium rose 7 percent this week after Cameco Corp. delayed a project and Uranium One Inc. and Paladin Resources Ltd. cut production forecasts.
Uranium oxide concentrate for immediate delivery, used to make fuel for nuclear power plants, rose to $90 a pound, from $84 at the end of last week, Denver-based pricing service TradeTech LLC said yesterday. The metal has jumped 20 percent in a month.
The advance ``gained momentum as news of production shortfalls made its way into the market,'' TradeTech said in a report. That ``prompted sellers to withdraw from the market.''
Production delays will worsen a uranium shortage that in June helped propel the price to a record $138 a pound. The shortfall in supply has already forced producers including Cameco and AngloGold Ashanti Ltd. to buy material on the spot market this year to meet contracts.
Uranium miners produced 103 million pounds of the metal last year, equal to about 65 percent of world demand. The rest came from government stockpiles and material extracted from decommissioned nuclear weapons.
Cameco said yesterday it will delay the start of its Cigar Lake mine to 2011. The mine was originally expected to account for about a 10th of world output from this year. It is the largest untapped source of uranium and flooded in October 2006.
Uranium One, owner of South Africa's biggest uranium deposit, on Oct. 30 cut its 2008 production target by 38 percent because of a shortage of sulfuric acid needed to recover the metal from mines in Kazakhstan.
Paladin, the Australia-based company producing uranium in Namibia, said Oct. 26 it will produce 650,000 pounds at the Langer Heinrich mine in the second half of this year, a third less than expected.
To contact the reporter on this story: Yuriy Humber in Moscow at yhumber@bloomberg.net
Last Updated: November 1, 2007 10:19 EDT
Wysiwyg
Everyone wants money
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The spot price might be on the way up again?
Emark,
you probably figured it out already from the above posts but if not its:
http://www.uranium.info/
published by trade tech.
Usually it does come out monday night but for some reason its earlier this time. I think it may have something to do if its good news they publish it faster, just a thought though
you probably figured it out already from the above posts but if not its:
http://www.uranium.info/
published by trade tech.
Usually it does come out monday night but for some reason its earlier this time. I think it may have something to do if its good news they publish it faster, just a thought though
Uranium Heating Up Again, Says Wizard
FN Arena News - November 05 2007
Just like many other market watchers, the Tech Wizard had been underestimating the technical correction that commenced in June this year and nearly halved the spot price of uranium oxide (U3O8) in a time span of 16 weeks only.
However, weekly spot prices set by industry consultants TradeTech and Ux Consulting have risen again over the past few weeks and the Wizard’s own investigation in the industry has provided him with enough confidence to predict that spot U3O8 will soon surpass the price of a barrel of crude oil again.
Moreover, the Tech Wizard believes we could be talking a spot price of US$100+/lb before the end of this month -under a best case scenario- but most certainly before the end of December. His personal contacts inside the global professional investment community have ensured him hot money is looking at re-entering the sector again, with confidence currently riding high that uranium will regain its hot spot status in the market soon.
To his personal observation confidence amongst professional speculators in the industry hasn’t been this high for months. This strengthens his conviction in retaining a positive bias towards Australian uranium stocks.
Adding to what he believes is the best looking prospect for uranium prices and share prices of uranium stocks since the technical correction commenced in late June is the fact that Canadian market leader Cameco has again further delayed the opening of its flagship Cigar Lake mine. This mine should be supplying the global market with some 10% extra product, but Cameco management last week pushed the projected ramp up date into 2011. Originally, the mine was scheduled to commence production this calendar year already.
This suggests the market is likely to remain undersupplied for longer than currently penciled in by most securities analysts, he says.
The Tech Wizard notes how industry experts have doubted Cameco management’s earlier statements that production would only be delayed by twelve months only. Later that statement had been revised into a projected start up date sometime in 2010-2011. Since last week the market has become aware that Cigar Lake won’t be supplying any yellow cake into the market until at least 2011.
Looking at Australia’s two leading producers from a technical perspective, the Tech Wizard observes that both share prices of Energy Resources of Australia (ERA) and Paladin Resources ((PDN)) have found support at their 20 moving averages (M/A) since the correction began in June.
This is a good sign, he says.
ERA’s share price has bounced back since sinking below $15 and subsequently finding support at the 20 moving average (M/A), the Tech Wizard says.
He says the MACD indicator is bullish and this supports his positive view.
For Paladin the prospects look even better, he says. After topping out above $10 the shares have fallen 50% to bottom out below $5. As said above, after this the share price found solid support at the 20 moving average (M/A), the Wizard says, and this month his chart shows a bullish breakaway gap.
If by the end of November this gap is still in place this would be a very bullish sign for Paladin shares, says the Wizard, as this would indicate there is strong support for the stock at this price level.
Again, the MACD indicator is bullish and this adds to his positive view.
The Tech Wizard currently owns no shares in any of the companies mentioned in this story.
FN Arena News - November 05 2007
Just like many other market watchers, the Tech Wizard had been underestimating the technical correction that commenced in June this year and nearly halved the spot price of uranium oxide (U3O8) in a time span of 16 weeks only.
However, weekly spot prices set by industry consultants TradeTech and Ux Consulting have risen again over the past few weeks and the Wizard’s own investigation in the industry has provided him with enough confidence to predict that spot U3O8 will soon surpass the price of a barrel of crude oil again.
Moreover, the Tech Wizard believes we could be talking a spot price of US$100+/lb before the end of this month -under a best case scenario- but most certainly before the end of December. His personal contacts inside the global professional investment community have ensured him hot money is looking at re-entering the sector again, with confidence currently riding high that uranium will regain its hot spot status in the market soon.
To his personal observation confidence amongst professional speculators in the industry hasn’t been this high for months. This strengthens his conviction in retaining a positive bias towards Australian uranium stocks.
Adding to what he believes is the best looking prospect for uranium prices and share prices of uranium stocks since the technical correction commenced in late June is the fact that Canadian market leader Cameco has again further delayed the opening of its flagship Cigar Lake mine. This mine should be supplying the global market with some 10% extra product, but Cameco management last week pushed the projected ramp up date into 2011. Originally, the mine was scheduled to commence production this calendar year already.
This suggests the market is likely to remain undersupplied for longer than currently penciled in by most securities analysts, he says.
The Tech Wizard notes how industry experts have doubted Cameco management’s earlier statements that production would only be delayed by twelve months only. Later that statement had been revised into a projected start up date sometime in 2010-2011. Since last week the market has become aware that Cigar Lake won’t be supplying any yellow cake into the market until at least 2011.
Looking at Australia’s two leading producers from a technical perspective, the Tech Wizard observes that both share prices of Energy Resources of Australia (ERA) and Paladin Resources ((PDN)) have found support at their 20 moving averages (M/A) since the correction began in June.
This is a good sign, he says.
ERA’s share price has bounced back since sinking below $15 and subsequently finding support at the 20 moving average (M/A), the Tech Wizard says.
He says the MACD indicator is bullish and this supports his positive view.
For Paladin the prospects look even better, he says. After topping out above $10 the shares have fallen 50% to bottom out below $5. As said above, after this the share price found solid support at the 20 moving average (M/A), the Wizard says, and this month his chart shows a bullish breakaway gap.
If by the end of November this gap is still in place this would be a very bullish sign for Paladin shares, says the Wizard, as this would indicate there is strong support for the stock at this price level.
Again, the MACD indicator is bullish and this adds to his positive view.
The Tech Wizard currently owns no shares in any of the companies mentioned in this story.
U3O8 Spot Price Continues To Rise
FN Arena News - November 06 2007
By Rudi Filapek-Vandyck
Confidence is rising among sellers of uranium oxide (U3O8) that prices will move up and will continue doing so in the times ahead. This is not our personal assessment but the view from industry consultant TradeTech as expressed in its latest weekly update on the uranium sector.
TradeTech has picked up from the market place that speculators are moving back in and sellers have become reluctant to commit to any offers received as they have the impression that waiting a little while can do wonders for the price achieved for their product.
TradeTech puts it as follows: “The majority of sellers expect spot uranium prices to strengthen over the next few months, and as a result, are very hesitant to commit to sales at this time.”
It is because of this reason that TradeTech has decided to add another US$3 to its weekly spot price indicator to take it to US$93 per pound on Friday. Last week the consultant raised its price indicator to US$90 from US$84 the prior week.
Ux Consulting, the other sector consultant who sets a weekly spot price indicator, raised by US$5 to US$85/lb last week.
This week TradeTech’s judgement, on the basis of information received from buyers and sellers in the market place, is that it will require a price above last week’s benchmark of US$90 to successfully conclude a transaction.
No transactions were recorded in the long term market and this explains why the long term price indicator has remained unchanged at US$95/lb.
FN Arena News - November 06 2007
By Rudi Filapek-Vandyck
Confidence is rising among sellers of uranium oxide (U3O8) that prices will move up and will continue doing so in the times ahead. This is not our personal assessment but the view from industry consultant TradeTech as expressed in its latest weekly update on the uranium sector.
TradeTech has picked up from the market place that speculators are moving back in and sellers have become reluctant to commit to any offers received as they have the impression that waiting a little while can do wonders for the price achieved for their product.
TradeTech puts it as follows: “The majority of sellers expect spot uranium prices to strengthen over the next few months, and as a result, are very hesitant to commit to sales at this time.”
It is because of this reason that TradeTech has decided to add another US$3 to its weekly spot price indicator to take it to US$93 per pound on Friday. Last week the consultant raised its price indicator to US$90 from US$84 the prior week.
Ux Consulting, the other sector consultant who sets a weekly spot price indicator, raised by US$5 to US$85/lb last week.
This week TradeTech’s judgement, on the basis of information received from buyers and sellers in the market place, is that it will require a price above last week’s benchmark of US$90 to successfully conclude a transaction.
No transactions were recorded in the long term market and this explains why the long term price indicator has remained unchanged at US$95/lb.
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(UK) Nuclear plants set for go-ahead
Let's hope that this helps to snap the uranium's out of their downtrend:
http://news.bbc.co.uk/2/hi/uk_news/politics/7179579.stm
Let's hope that this helps to snap the uranium's out of their downtrend:
http://news.bbc.co.uk/2/hi/uk_news/politics/7179579.stm
Lucky_Country
Formerly known as ijh
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Well I watched the 7.30 report tonight which was telling the story of Indonesia building 4 nuclear power plants within a decade.
All good for U3O8.
All good for U3O8.
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UK nuclear expansion seen as boon for Aussie uranium
From today's West Australian newspaper:
http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=54078
From today's West Australian newspaper:
http://www.thewest.com.au/default.aspx?MenuID=32&ContentID=54078
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Does any one of the more technical types have a way to construct a uranium index of Aussie companies? This guy does one for Canadian companies:
www.techuranium.blogspot.com/
I guess it would not be so hard if one had charting software? I'm not basically a tech guy, so I don't have the software myself. Here's a list of companies that ought to give some indication of what's going on in the sector:
ACB AEE AEX AGS ARU BLR BMN CTS CUY DYL EKM ENR ERA EVE EXT FSN HDG HDN MDX MEP MLI MRO MTN MXR PDM PDN PEN PNN SIM SLX TOE UEQ UKL UNO UNX URA UTO UXA WCU WHE WME
Any thoughts? Gotta be close to the bottom, post Opes and hedge-fund divestments etc. It'd be nice to know HOW close! My own subjective opinion is that they've hit bottom, tested it and started to creep up again.
www.techuranium.blogspot.com/
I guess it would not be so hard if one had charting software? I'm not basically a tech guy, so I don't have the software myself. Here's a list of companies that ought to give some indication of what's going on in the sector:
ACB AEE AEX AGS ARU BLR BMN CTS CUY DYL EKM ENR ERA EVE EXT FSN HDG HDN MDX MEP MLI MRO MTN MXR PDM PDN PEN PNN SIM SLX TOE UEQ UKL UNO UNX URA UTO UXA WCU WHE WME
Any thoughts? Gotta be close to the bottom, post Opes and hedge-fund divestments etc. It'd be nice to know HOW close! My own subjective opinion is that they've hit bottom, tested it and started to creep up again.
check out this site
http://www.energymetals.net/userfiles/file/uraniumtext21april08final.pdf
hope this helps
http://www.energymetals.net/userfiles/file/uraniumtext21april08final.pdf
hope this helps
Sean K
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Some have the opinion it's going up.
Seen a few articles claiming a bottom was in.
They could be wrong of course.
0919 [Dow Jones] Citi expects spot uranium price to rally; reiterates Buy ratings for Paladin (PDN.AU) and Energy Resources of Australia (ERA.AU). "We remain uranium bulls and expect the spot price to rally further in the remainder of 2008 and into 2009," Citi says. Says Rio Tinto's (RIO.AU) sale of Kintyre for US$495 million implies a value for Paladin's undeveloped resources of between US$790 million and US$1 billion vs Citi's valuation of US$890 million. The Kintyre deal implies a value for ERA's Jabiluka deposit of between US$1.8 billion and US$2.4 billion, well above Citi's valuation of US$350 million, which only assumes a 25% probability of development due to historical opposition from traditional owners. ERA target price set at A$26 a share, Paladin at A$6.80. ERA last traded at A$23.34 and Paladin at A$6.42. (APW)
Seen a few articles claiming a bottom was in.
They could be wrong of course.
0919 [Dow Jones] Citi expects spot uranium price to rally; reiterates Buy ratings for Paladin (PDN.AU) and Energy Resources of Australia (ERA.AU). "We remain uranium bulls and expect the spot price to rally further in the remainder of 2008 and into 2009," Citi says. Says Rio Tinto's (RIO.AU) sale of Kintyre for US$495 million implies a value for Paladin's undeveloped resources of between US$790 million and US$1 billion vs Citi's valuation of US$890 million. The Kintyre deal implies a value for ERA's Jabiluka deposit of between US$1.8 billion and US$2.4 billion, well above Citi's valuation of US$350 million, which only assumes a 25% probability of development due to historical opposition from traditional owners. ERA target price set at A$26 a share, Paladin at A$6.80. ERA last traded at A$23.34 and Paladin at A$6.42. (APW)
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The overhang of excess uranium (uncontracted) has now been worked off for the greater part.
It appears that long term supply contracts have held in the $90 range throughout the period that spot prices fell through the floor.
Accordingly, there is little or no more downside to spot so expect a rapid retrace to the $90 range.
Thereafter some sanity may prevail and the spike of last year should be avoided as uranium prices march strongly higher.
There is a foreboding inevitability that baseload power generation decisions will quickly move towards a nuclear paradigm as the cost and availability of other energy sources desensitises us to this reality.
For those who don't know this site: http://www.uraniumseek.com/
I find it pretty good.
This article is interesting http://seekingalpha.com/article/842...ming-will-lead-to-a-uranium-boom?source=yahoo
Spot price +1$... at least it starting to show some signs of life
I find it pretty good.
This article is interesting http://seekingalpha.com/article/842...ming-will-lead-to-a-uranium-boom?source=yahoo
Spot price +1$... at least it starting to show some signs of life
michael_selway
Coal & Phosphate, thats it!
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Hi nice list of uranium companies
Can you split them in producers/near producers/explorers?
thx
MS
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Here's a list divided by that criteria: http://www.u3o8.biz/s/UraniumStocks.asp?ListSortOrder=Custom50,Title
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Taken from Grant64 on HC,
Here's some great news for the U-Bulls, Uranium Spot has risen 3 weeks running.
TradeTech
Increase $3.25/lb
Now $63.25/lb
Here's some great news for the U-Bulls, Uranium Spot has risen 3 weeks running.
TradeTech
Increase $3.25/lb
Now $63.25/lb
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Dutchy no problem,Im long too via CFD(very)so am watching it maybe closer than you.PDN seems unstoppable atm,certainly lifted the grim look on my face.By the way I have missed your charts around here,particularly the breakouts of a descending triangle(?)
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