Fear and loathing about prices hits the Western Australian uranium market
Uranium price hits four-year low Nick Sas, The West Australian June 7, 2013, A new wave of nervousness swept through WA’s already under-pressure uranium explorers yesterday after the uranium spot price hit a four-year low.
The price fell below the $40 a pound threshold for the first time since April 2009, closing at $39.87 a pound.Despite industry assurances of a price rebound over the past 12 months, uranium has failed to get any traction.
The price has not pushed through the $45/lb mark since December 14.
The lethargic price places further pressure on local uranium explorers such as Toro Energy, which is looking for a strategic partner to help fund its $269 million Wiluna project.
If funding is found, Wiluna will become WA’s first uranium mine. A hearty increase in the spot price is needed to force WA’s fledgling uranium sector into first gear, with Canadian giant Cameco indicating a price of more than $70/lb is needed before it can give the green light to its massive Yeelirrie or Kintyre deposits……http://au.news.yahoo.com/thewest/business/a/-/wa/17512668/uranium-price-hits-four-year-low/
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