Paladin has advised production will not meet previous estimates and brokers have revised forecasts accordingly, while views remain mixed as to the stock’s outlook.
There were few surprises in the ERA quarterly production report as the company gets back to normal after flooding impacted on operations in the first half of 2007.
Industry consultant UxC has followed its peer TradeTech by equally cutting its weekly spot price indicator to US$75/lb.
Where is the bottom for spot uranium? It’s not at US$85 as TradeTech cut its spot price indicator by another US$10 to US$75/lb.
After much anticipation BHP upgraded its Olympic Dam total ore resource by 75%, but its 2P resource by only 7%.
Spot U3O8 took a breather this week. Meanwhile more and more experts are cutting their price forecasts for uranium, and target prices for producers.
Merrill Lynch has made its latest round of commodity price upgrades with some significant movements, while Paladin’s Borshoff tries to talk up the stock.
TradeTech lowered to US$85/lb but peer UxC has kept its own weekly spot price indicator at US$90/lb.
Spot uranium has registered another price decline, dismissing hopes support at US$95/lb would hold up the price for U3O8.
US utility Exelon has reportedly bought U3O8 in Niger in a deal that thus far triggers more questions than answers.