Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I'm out at nearly 50% profit which is good enough for me. I'll come back when MMs stop pi**ing about with the price. Uranium is becoming the new Silver as far as manipulation is concerned. TT
Numerco 8700/9000
Rick Rule's latest thoughts in 90 mins, possibly worth a listen:
https://www.youtube.com/watch?v=Rahb9fVpuZo
Mike Alkin claims the spot market is a joke, just a handful of traders buying and selling a couple of hundred thousand lbs of Uranium amongst themselves for a few dollars profit per pound and all that matters is term pricing but I guess most eyes are usually on the spot price and it drives sentiment.
Numerco 8900/9100
No 'end of month' explanation now :-(
You are quite right ands i think there is plenty of it around. I go back to whne i first invested 4 years ago. The current $75 /lb woudl have been about the target back then so even on the original thesis i can't say it has overshot. In those 4 years a lot has changed for nuclear on the deamnd side while the supply side has not moved much. On that basis a target of somethnig north of $100 as a sustainable price seems realsitic. Will we get some big squeeze in next 2 years who knows, but seems the risks are all on that side. So I'm struggling to see as in bubble territory. Also it hasn't made it onto the main stream news and all my friends arent telling me about it. Those are also signs.
>We al lknow this stuff,
I'm always keen to make sure I am seeing both sides of the story - and am worried I'm in bubble where I am only exposed to the reasons that the price should continue rising.
Who is arguing the "other side" - e.g. saying miners are ramping up supply, or that there's plenty of secondary supply after all, and that prices will stay at this level and fall?
We al lknow this stuff, but more broadening of the story https://www.youtube.com/watch?v=3xANjHoIrZI
Numerco 9100/9400
Useful insight from Quakes
While a February #Uranium 'month-end smash'💥🔨 pulled Spot #U3O8 down🪂 TradeTech reports that 6.5M lbs were traded in February🛒 at a weighted average of $97.10/lb⬆️ which was +$8.40 higher than the 6.8M lbs traded in January at an average of $88.70/lb.Trend is Up!
HTtps://fnarena.com/index.php/2024/03/05/uranium-week-spot-price-eases-further/#:~:text=Industry%20consultant%20TradeTech's%20weekly%20price,above%20the%202023%20average%20price.
After a very volatile February for uranium spot prices, triggered by the price rise to over US$100/lb, the month ended with further easing from that mark. Industry consultant TradeTech’s weekly price indicator fell -US$1.50 to US$93.50/lb.
That’s down from US$100.50/lb at end-January, but the indicator is nevertheless up 87% year on year and 55% above the 2023 average price.
TradeTech notes much of the selling has come from financial entities, that first kicked off the uranium rally a few years ago, trimming positions and booking what would be considerable profits at prices over US$100/lb.
Numerco 9250/9450 :-(
Https://twitter.com/quakes99/status/1764433815274234139?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
Breaking News!💥📰 US Enriched #Uranium #Nuclear Fuel Makers Get $2.7 Billion Boost in Funding Bill Unveiled Today💰📜⚛️⛏️🇺🇸 part of a broader Biden admin plan to buy Uranium direct from US producers🛒 as Senate may join the house in passing legislation to bar imports from Russia.🇷🇺🚢⛔️🇺🇸 Congress seeks to pass the underlying funding bill this week to prevent a partial government shutdown.🧑⚖️🤠🐂
https://bnnbloomberg.ca/us-reactor-fuel-makers-get-2-7-billion-boost-in-funding-bill-1.2042075
Numeco 9350/9550
Unfortunately drop not done for this month
These are bid/offer for 100k Lbs. We'll only know how firm these are when we see a bid for a million Lbs or more.
9400/9750 and hopefully that's the drop done for this month:
https://twitter.com/quakes99/status/1762232402896896311
Still going down
Numerco 9400/9700
Was wondering why discount so high with YCA for last days, tempted to take some more but it did not feel right. Do some people know something I don't and had pre-knowledge of the fall.
Month end smash down in play by traders whose purchase prices are fixed at the previous month spot price - those traders will knock the spot price down as far as possible to get the lowest fix for end march purchases, which are priced at end feb spot. Once this is done, they start the process to bid up the spot at the beginning of the month, to sell the lbs they bought.
well known and not new
Numerco 9500/9900
Not sure if anyone here trades in and out of this as the discount charges. I used to but since autumn or so I've just stayed in.
If you were to trade based on the discount, note this is now at a nice round 20% discount to NAV.
John quakes on twitter...
htTps://twitter.com/quakes99/status/1760725567379525702
Boom!💥#Nuclear fuel consultants UxC are reporting that a non-US utility has issued a Request for Proposals (RFP) to #Uranium producers to supply 21 Million lbs in a massive long-term contract with deliveries starting in 2026 on out to 2039.📜⚛️⛏️🛒🤠🐂
HtTps://fnarena.com/index.php/2024/02/20/uranium-week-follow-the-leader-2/
Since financial entities moved in and made spot uranium a speculative plaything as much as an end-use consumable, the uranium market has become as much beholden to macroeconomic impacts on financial markets in general as it is to physical supply/demand. So it was last week when a “hot” US inflation print sent Wall Street tumbling.
Industry consultant TradeTech reports the stocks in its uranium “StockWatch” basket fell an average -4.5% for the week.
Which has little to do with the current global supply/demand imbalance and uncertainty within the uranium market. It did serve to force sellers into quickly lowering their offer prices.
There was not much response from buyers. Activity in the uranium spot market was down significantly last week, TradeTech reports. TradeTech’s weekly spot price indicator fell -US$1.00 to US$102.00/lb, continuing to exhibit volatility around the magic 100 level (magic simply because it is a round number).
Down again
Numerco 9800/10000
Numerco 9900/10100
Https://www.thearmchairtrader.com/yellow-cake-soars-as-governments-go-nuclear/
Dated 20th Feb 2024
htTps://www.investing.com/news/commodities-news/goldman-hedge-funds-step-up-activity-in-physical-uranium-as-prices-spike-3307759
Investment banks Goldman Sachs and Macquarie as well as some hedge funds are positioning themselves to reap the benefits of a newly buoyant uranium sector as prices of the nuclear fuel ingredient spike.
and
With the headlines and positive momentum in nuclear more generally, hedge funds and other commodity investors are back in the (uranium) sector.
and
Goldman Sachs has started writing options on physical uranium for hedge funds, the first time it has created a derivative for the metal.
and
Goldman is largely dealing with financial clients like hedge funds while Macquarie's main focus is boosting trading and marketing output from miners, another source who dealt with both banks said, also declining to elaborate because the data is confidential