Washington (Platts)--15Jul2008

The spot price of uranium jumped by $4 over the last week to at least $64
a pound U3O8, the price reported late Monday by Ux Consulting and a number of
analysts believe the market is looking at still more upward pressure.

Pricing reporting firm TradeTech, which on Friday raised its price to
$63.25/lb from $60/lb, noted there is strong demand for material with at least
nine buyers seeking nearly 3 million pounds. As a result, TradeTech said,
sellers are "seizing the opportunity to increase offer prices."

Ux Consulting said many suppliers are now looking to sign only
market-related spot contracts, a move that is "reminiscent of past periods
when prices moved up quickly."

While some more utility demand is starting to emerge, it is unclear
whether more utilities will enter the market now or wait until later this year
or until next year to buy in hopes prices may be lower.

The Platts NuclearFuel range for the week was $62-$68/lb U3O8.