Uranium Stocks Begin Initial First Stage Of Breakout

Published on Friday September 14 2012 (AEST)

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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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BHP Cancels $30 Billion Olympic Dam Copper-Uranium Mine Expansion Near Roxby Downs

Published on Wednesday August 22 2012 (AEST)  

BHP Billiton has shelved its $30 billion Olympic Dam expansion and will go back to the drawing board to find a cheaper alternative. Market conditions, subdued commodity prices and higher capital costs led to the decision, said BHP chief executive Marius Kloppers in a statement. 

"As we finalised the details of the project ... it became clear that the right decision for the company and its shareholders was to continue studies to develop a less capital-intensive option to replace the underground mine at Olympic Dam," Mr Kloppers said. 

 "Value is always our primary consideration. We believe today's decision reflects an appropriate, prudent and disciplined course of action." 

The mine would have become the world's biggest open cut copper and uranium mine at six Kilometres long and one Kilometre deep. 

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Paladin Energy Signs $200m Uranium Offtake Contract

Published on Wednesday August 15 2012 (AEST)  

Paladin Energy has signed a massive US$200 million long term off-take contract for its Uranium. According to the company it has signed a six year off-take agreement with an unnamed "major utility" to provide 13.73 million pounds of uranium from 2019 through to 2024. 

 It will supply the uranium from its current African mining operations or its upcoming projects. All of the "uranium delivered under the long term contract will be sold at market prices prevailing at the time of delivery bounded by escalating floor and ceiling prices," Paladin says. 

 As part of the agreement, the unnamed utility will hold security over 60.1% of Paladin's Michelin project in Canada. 

The prepayment of the US$200 million will be applied to the repayment of US$ 134 million worth of convertible notes, with the remainder held in the balance sheet as working capital. Paladin "will now re-evaluate its strategic options in the light of this major achievement"

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Uranium Stocks - ASX Australia Current Market Caps As At End Of June 2012 Qrt.

Published on Sunday August 12 2012 (AEST) 

 Speculative Australian ASX Listed Uranium Juniors current Market Caps, excluding producers Paladin/Energy Resources/BHP Current as at Aus\gust 02 2012. 

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Uranium Stocks Australia Current Cash On Hand As At June 2012 Qrt.

Published on Friday August 10 2012 (AEST)

Speculative Australian ASX Listed Uranium Juniors current Cash Position, excluding producers Paladin/Energy Resources/BHP 

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How Is Uranium Mining Conducted in the United States

Published on Tuesday July 17 2012 (AEST)

Uranium Resources' Mark Pelizza explains how uranium is mined--either through a conventional or in situ uranium mining process--to provide fuel for U.S. nuclear energy facilities. . 

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