In an interview with Uranium Investing News, Simon Clarke, Communication Director for the Australian Uranium Association (AUA), detailed his cautionary optimistic viewpoint for the uranium industry, "Indian investors are likely, once permitted, to look for potential investments in Australian uranium assets."
Articles Tagged "price of uranium"
Mark Lackey, Investment Strategist with Pope & Company forecasts growth in the uranium mining industry, "We think the prices will head up closer to $70 next year and then in 2013 we can get back closer to $100."
Mining giant Rio Tinto PLC has finally engaged in a long anticipated competition for junior uranium company Hathor Exploration Ltd. with a friendly $572-million bid, escalating a challenge against an earlier hostile offer from uranium giant Cameco for the promising Saskatchewan property.
Building further on positive cooperative policy developments from July of 2009, the 55th Annual Regular Session of the International Atomic Energy Association (IAEA) General Conference concluded last Friday with the United States and Russia making a "commitment to supporting the safe and secure expansion of civil nuclear energy."
Mawson Resources Limited(TSE:MAW) announced the discovery of high grade uranium mineralization at shallow depth at its Riutta project, Finland.
FNArena reported on the 36th annual World Nuclear Association Symposium held in London last week.
Focusing on a long term positive outlook for uranium prices, BMO Analyst, Edward Sterck believes, “in terms of potential positive catalysts the main thing needs to be reinforcement of positive sentiment from China once it announces that its safety review will allow it to continue to license new reactors."
The potential outlook for both the uranium mining and nuclear industries suggest a muted positive context by some analysts that could be worth noting for investors. In an exclusive interview with Uranium Investing News, Mikhail Safin, Equity Research Analyst at Renaissance Capital explained, “in the uranium mining industry currently we are observing the consequences of the accident in Fukushima."
One consideration that has contributed to a decline in uranium equity valuations over the last 3 months has been the result of an overall market correction represented by a drop in the broader equity indices.
The price for uranium climbed 4 percent to reach $53.75 per pound, an increase of $2.00 from the spot price for uranium last week. Purchasers of uranium resources over the course of last week have seen demands met with consistently higher prices as the week concluded.