Antinuclear

Uranium prices to go down further

Investors take a stick to disappointing resources companies, Robin Bromby,The Australian, February 08,
“……….Uranium in surplus

DEUTSCHE Bank has put a “sell” recommendation on Paladin Energy (PDN) with a target price of $3.30, against Friday’s close at $3.52. The bank’s analysts are predicting a uranium market surplus of 4500 tonnes by 2011.

……….. Deutsche believes uranium prices will be hit this year due to production growth in Kazakhstan, increasing US Department of Energy spot sales, and permit delays to nuclear reactor plans in the West.

February 8, 2010 - Posted by Christina Macpherson | 1, energy, uranium | energy, nuclear costs, uranium