It’s Up, Up, Up For Uranium

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By Rudi Filapek-Vandyck

The U3O8 spot price as set by industry consultant TradeTech reached US$63/lb on Friday continuing its upward path from the record price of US$61/lb a week earlier. Ux Consulting, the other industry consultant who sets a weekly spot price, published a spot price of US$62.50/lb on Monday last week.

Both “spot” prices may differ in nominal figures the trend behind the figures will not: the price of uranium has risen another 3%+ over the past week.

At around 2.15pm shares of Energy Resources of Australia (ERA) were trading 11 cents (0.63%) lower at $17.49. Paladin Resources (PDN) shares were trading 24 cents (4%) higher at $6.27.

(James Finch of Stockinterview.com contributed to this story).

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