Uranium players expect the upward movement of the commodity's spot price
to be more gradual over the next few months after strong gains this past
summer, according to observers.

TradeTech earlier this month kept its spot price at $93/lb U3O8. The
price-reporting company said that while some sellers continued to raise their
offer prices, other sellers "seized the opportunity to place material and
generate revenue" before the end of 2007.

Ux Consulting, in a report released late November 12, raised its price
$2/lb, to $92/lb, from the price it published a week earlier. A number of
utilities have apparently backed away from concluding deals after the price
moved from $75/lb in October to over $90/lb, market sources said. Texas-
based Mestena Uranium apparently concluded a deal after getting bids
November 6 in its auction of 100,000 lb U3O8. It appears, though, that
the winning bid did not accelerate the upward movement of the price the way
the company's auctions did earlier in the year. Those earlier Mestena
auctions could move the spot price by $10/lb or more. The Platts
NuclearFuel range for the week is $93-$100/lb U3O8.