Canada’s initial knock-back of BHP’s Potash bid has been met with relief by the market, but is the market wrong to now assume a buyback ahead?
Industry observer TradeTech notes spot uranium prices are consolidating as the market remains active.
The weekly spot uranium price has seen its biggest jump in two years while analysts see a possible supply deficit ahead.
A pick up in market activity has seen uranium prices creep higher, uranium market consultant TradeTech lifting its spot price forecast by US50c/lb.
Energy Resources of Australia delivered what the market viewed as a poor production report, seeing brokers cut earnings forecasts and ratings for the stock.
Suddenly the uranium market has become active after drifting about in the doldrums for some time.
Increased market activity sees TradeTech lift its uranium price indicator.
DJ Carmichael suggests positive news flow could spark investor interest in junior uranium play Aus-American Mining.
U3O8 spot prices took a hit last week, but buyers quickly moved into action.
It would seem support for U3O8 prices is coming from all corners of the uranium market these days.