Washington (Platts)--11Sep2007

The spot price of uranium has -- for the moment -- stabilized between
$85-$90/lb U3O8, according to TradeTech and Ux Consulting. However, that may
change as news filters out on the range of bids seen by Texas-based producer
Mestena later Tuesday. Mestena is offering up to 300,000 lb U3O8 for sale.

     Ux, in commentary late Monday, said it appears there is a "notable
amount" of uranium available between $90 and $100/lb, indicating that "while
there is speculation on the degree of downside pressure on prices at the
moment, there is not much expectation on upside pressure." Buyers, said Ux,
"do not appear overly anxious."

     TradeTech, which held its price at $85/lb as of late September 7, said
that it appeared that the "gap between what buyers are willing to bid and
sellers are willing to offer has narrowed considerably from the gap that has
persisted for the past month."

     The Platts NuclearFuel range for the week was $83-$98/lb U3O8.