Slow Restart for U3O8 Market

Notable Quotes

"EXXI has a very good mix of high-impact exploration and lower-risk development." (1/31/12) Energy XXI - The Energy Report Interview with Bill Powers More >

"NPK appears to be the lowest-cost potash producer in Brazil." (1/31/12) Verde Potash - Jaret Anderson, Mackie Research More >

"TPL's new oil storage and rail loading facility will initially double production." (1/30/12) Tethys Petroleum Ltd. - Deborah Sterescu, Proactive Investors More >

"CPT continues to derisk Vista." (1/30/12) Coalspur Mines Ltd. - David Charles, GMP Securities More >

"TLH is performing a very aggressive expansion plan." (1/26/12) Talison Lithium Ltd. - The Energy Report Interview with Daniela Desormeaux More >

"LI has really good prospects for the future." (1/26/12) Lithium One Inc. - The Energy Report Interview with Daniela Desormeaux More >

"I think that RM can be a player in the lithium industry." (1/26/12) Rodinia Lithium Inc. - The Energy Report Interview with Daniela Desormeaux More >

"NMX has one of the highest project rankings by our methodology." (1/26/12) Nemaska Lithium Inc. - The Energy Report Interview with Daniela Desormeaux More >

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Source: FNArena News, Rudi Filapek-Vandyck��(1/12/10)

"Participants in the spot U3O8 market have proved rather slow in re-entering the market. . ."

Participants in the spot U3O8 market have proved rather slow in re-entering the market into the fresh calendar year, with industry consultant TradeTech registering only one transaction in the week ending on Friday. No surprise thus, the industry consultant has left its weekly spot price indicator unchanged at US$44.50/lb.

Talk of the sector remains the potential market entrance of a new uranium fund by Uranium Investment Corp. The company has issued an amended and restated preliminary prospectus and term sheet. According to the documents, the fund is seeking to raise C$150 million. If successful, the fund intends to invest up to 90% of the net proceeds to acquire uranium. This could give overall market dynamics a positive boost. The offering is expected to close on or about February 9.

TradeTech's medium-term price indicator remained unchanged at US$50/lb and its longer-term benchmark remains at US$60/lb.

At present there's no difference in weekly spot prices as published by either TradeTech or fellow-consultant Ux Consulting.

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