Texas Uranium to Guide Utilities on Purchase Price

...one commodity produced in this county continues to set record uranium prices at each of the past few auctions...

For uranium stock investors, all eyes are on Corpus Christi (Texas), where privately held Mestena Uranium LLC is headquartered. To the south, in Brooks County, is the company's Alta Mesa uranium mine. This may be one of the least significant of the 254 counties in Texas with a population hovering around 7,700. Median annual household income in the last census was reportedly less than $19,000. But, one commodity produced in this county continues to set record uranium prices at each of the past few auctions.

By the end of March, Mestena is expected to offer another 100 thousand pounds U3O8 in a sealed-bid auction from the company's ISR (in situ recovery) mining operations at Alta Mesa. "Bidding is expected to be aggressive," wrote Nuclear Market Review editor Treva Klingbiel in the March 16th issue. The TradeTech weekly spot uranium indicator remained unchanged for the week as no new transactions or demand was reported. Every Friday, after surveying fuel brokers and utilities for market activity, the consulting service posts changes in the weekly spot uranium price on its website.

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