While transaction volume remains low, spot, mid-term and long-term uranium prices all continue to move higher.
-Uranium term prices take a leg up
-US aspires to nuclear leadership
-Paladin's false alarm
As uranium has in past years become a financial investment as well as a source of energy, last week the spot uranium price gained a financial boost from the resolution of the US debt ceiling, along with stock and other commodity markets.
Volumes were again minimal nonetheless.
The increase occurred on transactions concluded in the first two days of June.
Expectations for additional demand to emerge from the financial sector have been coupled with predictions of a rise in the uranium spot price,
Still, heightened concerns among market participants around jurisdictional risk appear to be setting the stage for increased spot market activity in the future, and are already creating ripples throughout the rest of the nuclear fuel cycle.
Aspiration
Last week the
The Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act of 2023 aims to facilitate American nuclear leadership, advance new nuclear technologies while preserving existing capacity, and improve
The Americans had allowed the Russians and Chinese to get ahead.
Last week brought news the Namibian government is considering taking minority stakes in mining projects in the country. The result was a rapid de-rating of shares in Paladin of some -20%.
Paladin management initially announced it had not learned of any legislative changes in
"...the government has no intention to seize any stake from existing mineral or petroleum licence holders and remain committed to uphold the sanctity of contract."
Uranium companies listed on the ASX:
ASX CODE | DATE | LAST PRICE | WEEKLY % MOVE | 52WK HIGH | 52WK LOW | P/E | CONSENSUS TARGET | UPSIDE/DOWNSIDE |
---|---|---|---|---|---|---|---|---|
AGE | 0.0360 | 12.50% | ||||||
BKY | 0.4350 | - 8.42% | ||||||
BMN | 1.4100 | 11.02% | ||||||
BOE | 3.0900 | 10.75% | 7.1% | |||||
DYL | 0.6800 | 17.24% | 52.9% | |||||
EL8 | 0.3300 | 13.79% | ||||||
ERA | 0.0300 | - 3.23% | ||||||
LOT | 0.1950 | 14.71% | 79.5% | |||||
NXG | 6.7000 | 13.56% | ||||||
PDN | 0.6700 | 25.23% | -19.7 | 63.7% | ||||
PEN | 0.1850 | 19.35% | 83.8% | |||||
SLX | 4.1000 | 9.92% | 22.0% |
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