Stock Prices Jump in the Junior Uranium Sector

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Looking at the Toll Cross Junior Uranium Index, we see a 4.4 percent increase to 344.28 from 329.91, fuelled by rallying junior companies in the sector. Compared to last week, junior explorers were up eight percent, advanced explorers jumped six percent, production visibility companies gained 10 percent, and producers gained eight percent.

The spot uranium price fell US$2 to US$63 a pound U3O8 last week, according to price publisher Ux Consulting. Spot market activity remains slow with just five transactions concluded in April, and the entry of more active supply applied further downward pressure on the spot price that month. The drop comes just a week after the metalís long-term price fell $5 to $90 a pound after eleven months at the previous price.

According to the weekly uranium update from Toll Cross Securities, uranium futures for May are trading at $63 while June and July contracts are priced at $64. Futures from August to November are worth $65, with December contracts jumping to $66. June 2009 futures are priced at $75 and December 2009 futures are worth $82.

Looking at the Toll Cross Junior Uranium Index, we see a 4.4 percent increase to 344.28 from 329.91, fuelled by rallying junior companies in the sector. Compared to last week, junior explorers were up eight percent, advanced explorers jumped six percent, production visibility companies gained 10 percent, and producers gained eight percent.

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