Yellowcake miners and processors are on a massive mission, flexing their financial muscles investing in new uranium projects and expanding existing ones, in the face of the metal's spot price that has recently caught a cold.
The uranium spot markets are under pressure and the price has been in freefall. In late June last year, uranium spot prices hit the highs at US$136 per pound, from a low of US$7 per pound in 2000, bolstered by a tight market and speculative buying. Currently, the price is down by slightly over 60% from June's, sending quivers throughout the markets.
But such a bleak short and medium term outlook in the uranium spot markets has not deterred the miners and processors, who are on the prowl, clinching new acquisition deals, with some expanding their existing projects with the feeling that markets will turn around again.
Mineweb
