"The uranium spot price reached $74/lb in the first quarter of 2008, which is down 20% from the $93/lb recorded in the last quarter of 2007, and $46/lb off the high of $138/lb reached in June last year."
By: Irma Venter
Published on 11th April 2008
Published on 11th April 2008
The junior end of the uranium market has been “disproportionately hit” by the sub-prime credit crisis, exacerbated by a pull-back from the earlier-than- expected peak in the uranium price in June 2007, Australia-based equity research company Resource Capital Research (RCR) states in its quarterly report published in March.
“Selective share price performance has been driven by company- specific news flow and market position.” The report notes that the market valuation of Australian companies with one or more uranium projects (263 companies) is down 8% from February to March, down 27% over the last three months, and down 12% over the last 12 months.
This compares with a selection of 285 Canadian companies with one or more uranium projects, up 11% from February to March, down 1% over the last three months, and down 16% over the last 12 months.
RCR says the uranium majors have had mixed performances since the beginning of the year, with Cameco up 10%, Denison Mines up 6%, Uranium One down 43%, Energy Resources up 22% and Paladin down 13%.
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http://www.miningweekly.com/article.php?a_id=130548
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