Spot Uranium At US$113/lb

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By Rudi Filapek-Vandyck

Spot uranium, on TradeTech’s count, has surged to US$113/lb as two buyers engaged in heavy bidding for Mestena Uranium’s April auction of 100,000 pounds of yellow cake.

The US$18 price jump is the biggest –ever!- and was reportedly achieved as some hedge funds happily joined the bidding process alongside several US based utilities. It has not been revealed who ultimately placed the highest bid.

It has to be noted the record spot price set at the April auction is a mere US$2 shy of the all-time high in inflation-adjusted dollars. The long-term uranium price remains unchanged at about US$85/lb.

For more information, FNArena happily refers to the latest update by Stockinterview.com which can be found in the (more) Sources of Wisdom section on our website.

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