Thursday, September 20, 2012

Do You Support Uranium Mining In Queensland ? CAST YOUR VOTE

Published on Thursday September 20 2012 (AEST)

Let's talk about Uranium Mining: Qld Govt 

Queensland's Government is calling for public debate on uranium mining after miners urged it to lift a decades-long ban. 

Resources Minister Andrew Cripps called for discussion on Friday after the Queensland Resources Council (QRC) said it was time to overturn the ban. 

"Uranium mining has not been the subject of a serious public discussion in Queensland for many years," he told AAP. "The Queensland Government is keen to hear all views." The state's last uranium mine, Mary Kathleen, closed in 1982. 

"A generation of Queenslanders have never experienced or contributed to this debate," Mr Cripps said. Western Australia and the Northern Territory currently allow uranium mining and QRC president Michael Roche said in an article on Friday it was time to follow suit. "The time is ripe for Queensland to move from uranium exploration to mining."

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Friday, September 14, 2012

Uranium Stocks Begin Initial First Stage Of Breakout

Published on Friday September 14 2012 (AEST)
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Wednesday, September 5, 2012

Uranium Spot Price Optimism Beginning To Build

Published on Wednesday September 05 2012 (AEST)  


Over the course of August there were 17 transactions that took place in the spot market, with a total of 2.9m pounds of U3O8 equivalent changing hands. This is significantly more than the 1.4m pounds that were traded on the spot market in July. Industry consultant TradeTech notes buyers were utilities and intermediaries for the most part, with the selling group being comprised of traders, producers and financial entities. 

The prominent featuring of traders and financial entities does little to inspire optimism amongst the bullish crowd, as it signifies that there remains a significant amount of speculative interest in the energy metal. TradeTech believes the increased uranium market activity can be attributed to the pullback in the spot price that played out over July and August. 

The consultant notes that prices in deals reported during August declined as each successive deal was done. In fact, the pullback gathered momentum as the month neared its end. Seller resolve finally began to crack under the strain of inactivity, with a number of marketers who were unwilling to drop offer prices finally buckling, seemingly determined to do some business even if it meant dropping prices. 

The lower the price went the more buying interest and thus an increase in volume traded for the month. The positive side of their equation, if there is one, is that hopefully these "distressed" transactions are helping to clear the market of discount stock. Still, demand remains patchy at best and continues to be highly price sensitive. 

TradeTech does see some improvement in these dynamics, but notes it will take time for a higher quality of demand to filter through. There are potential buyers that are yet to enter the spot market despite the recent weakness in prices. 

For utilities, it is a question of available budget to build inventory or make discretionary purchases, but management and budget allocations take time. Until there is a pickup in steady demand, TradeTech notes there is increased talk in the market that prices could fall even further, seeing many prospective buyers delay purchases in hopes
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