Four Uranium Auctions in 17 Days
Published June 10th, 2007
In less than three weeks, four uranium auctions will have taken place. Spot U3O8 price has jumped by 300 percent, since June 2006 when it closed the month at US$46/pound. The uranium price has soared by 475 percent in less than two years.
Is there more price rally left in the ‘long march’ of the spot price? This week could be telling. Four uranium auctions in 17 days should bring increased transparency to the spot uranium market.
On May 30th, Mestena Uranium LLC received sealed bids for the sale of 100 thousand pounds U3O8, which sent the spot price to US$133/pound. Two days later, TradeTech increased its weekly spot price indicator to US$138/pound.
The June 1st auction was conducted by Joe Card, through his Atlanta-based nuclear fuel brokerage firm American Fuel Resources LLC. Card’s website can be visited at http://www.americanfuelresources.com/
On June 12th, Denison Mines (AMEX: DNN) through Uranium Participation Corp (TSX: UPC) will receive bids for 125 thousand pounds U3O8 for delivery in June.
Later this week, on June 15th, Nufcor offers 200 thousand pounds U3O8 and 100 tUF6.
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