IBTimes reported that despite guarded optimism among traders, analysts and miners in the uranium industry, the spot price has traded within a US$5 band of US$50 dollars for more than a year now.
As quoted in the market news:
The latest bit of indicative optimism is news that Canadian miner Cameco is on a bit of a buying spree that started with a $430 million bid for BHP Billiton’s ((BHP))Yeelirrie project a few weeks back. U3O8.com reports the company intends to nearly double its production by 2018 to take advantage of anticipated increasing demand and expected supply shortfalls.
