Australian news, and some related international items

Uranium spot price ‘dead for months’, despite lobby propaganda

18 April 12, Yesterday 9 news reported on the uranium spot price’s continuing dismal slide : –

“Last week a mere three transactions occurred in the global spot uranium market, totalling 500,000lbs, industry consultant TradeTech reports. TradeTech’s spot price indicator remains unchanged at US$51.25/lb. Year to date trading has seen 8.2mlbs of U3O8 equivalent change hands compared to 18.4mlbs in the same period last year. ….

the spot uranium market has been pretty “dead” for the past several months….. Australian-listed Paladin Energy has been following a bumpy road to becoming one of the world’s more significant uranium producers as it deals with the usual pitfalls of project development and expansion and deals with them in Namibia. Aside from production issues, Paladin is suffering from cashflow tightness as development costs rise in the face of weak post-Fukushima uranium pricing”

April 18, 2012 - Posted by | AUSTRALIA - NATIONAL, business, uranium

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