Uranium spot prices rise to at least $65/pound; more gains seen

Washington (Platts)--12Dec2006

The spot price of uranium jumped this week to at least $65 a pound and is
expected to rise even higher next week based on the results of an auction of
260,000 lb U3O8 Friday by Texas-based Mestena Uranium.

Price reporting companies have over the last several days raised their
spot price indicators. TradeTech moved its indicator December 8 to $65/lb
U3O8, up $1/lb over the price it published a week earlier. Ux Consulting moved
its indicator on Monday to $65.50/lb U3O8, up $2.50/lb over the price on
December 4.

But a number of analysts are saying that it is likely that some, and
perhaps all, of the 260,000 pounds being auctioned by Mestena could go for at
least $70/lb.

--Michael Knapik, newsdesk@platts.com

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