Slow Restart for U3O8 Market
Source: FNArena News, Rudi Filapek-Vandyck (1/12/10)
"Participants in the spot U3O8 market have proved rather slow in re-entering the market. . ."
Talk of the sector remains the potential market entrance of a new uranium fund by Uranium Investment Corp. The company has issued an amended and restated preliminary prospectus and term sheet. According to the documents, the fund is seeking to raise C$150 million. If successful, the fund intends to invest up to 90% of the net proceeds to acquire uranium. This could give overall market dynamics a positive boost. The offering is expected to close on or about February 9.
TradeTech's medium-term price indicator remained unchanged at US$50/lb and its longer-term benchmark remains at US$60/lb.
At present there's no difference in weekly spot prices as published by either TradeTech or fellow-consultant Ux Consulting.