Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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New article in the FT today: "Uranium prices could power on after largest producer warns on supply, say investors"
link: https://www.ft.com/content/67bb40e1-59e7-4b35-9b9a-8e7c68a1f469?sharetype=blocked
Numerco 10000/10300
100/103 @Uranium Markets
link: https://twitter.com/quakes99/status/1745831371984228656
Interesting new article out today from Goehring & Rozencwajg titled: "Uranium: New Market Star", where they make a bold prediction at the end of the article:
"AS U.S. UTILITY BUYERS REALIZE THAT DECADES OF AMPLE SECONDARY SUPPLY ARE GONE, THEY WILL PANIC, SCRAMBLE TO SECURE VOLUMES, AND DRIVE PRICES MUCH HIGHER.
We leave you with a prediction. As U.S. utility buyers realize that decades of ample secondary supply are gone, they will panic, scramble to secure volumes, and drive prices much higher. Eventually, they may be induced to approach the various financial vehicles, including the Sprott Physical Uranium Trust, to seek the uranium they need. Ultimately, they might be forced to pay large premiums to spot prices to secure long-term supply. We believe this will likely mark the top of the uranium bull market. This could be many years away; until then, we believe the uranium price rally will persist."
link: https://blog.gorozen.com/blog/uranium-market-star?utm_campaign=2023%203Q%20Commentary&utm_content=278302468&utm_medium=social&utm_source=twitter&hss_channel=tw-940698796903878657
Sput moved to a premium to NAV since open - ATM probably being turned back on again!
£20.5k up now.
YCA 700p broken today. Next stop 1000p.
BNN Bloomberg: "World’s Biggest Uranium Miner Warns of Production Shortfall"
link: https://www.bnnbloomberg.ca/world-s-biggest-uranium-miner-warns-of-production-shortfall-1.2021190.amp.html
Dated today
https://www.londonstockexchange.com/news-article/KAP/kap-expects-adjustments-to-its-2024-production/16286256
While actively pursuing alternative sulphuric acid supplies, current projections indicate that the Company's intention to achieve 90% production volume as per Subsoil Use Agreements in 2024 may be challenging.
Https://twitter.com/bonker_99/status/1664243938591404032?s=20
Well this went well from under £4.
I suspect Uranium is a bit toppy now so I've had 2/3 out myself - more cash for O&G/Gold/Silver plays ...
GLA
Interesting that they haven't yet been able to guide on the size of the production shortfall. We could see more good news in their next RNS
The discount to nav should begin to close further, especially when sput sees further flows at the open today, reducing the discount to nav from the current 5% to a premium.
Interested picking up ?
Thanks for the KAP link YCA_700p .... if that represents your target its damn close
Thanks YCA_700p_2023. I think this is also notable:
"Uranium reserves remaining in the ground as a result of deviation from production schedules will be available for production as a source of revenue in the future, creating long-term value for our shareholders."
Given the way prices are going, perhaps theyr'e not in too much of a hurry to fix problems!
My wife and I are £17k up today at the moment.
If that isn't exciting, I don't know what is!
Kazatomprom expects adjustments to its 2024 Production Plans
National Atomic Company "Kazatomprom" JSC ("Kazatomprom", "KAP" or "the Company") expects its 2024 production to be adjusted due to the challenges related to the availability of sulphuric acid, a critical operating material, as well as delays in completing construction works at the newly developed deposits, however remains committed to its 2024 delivery obligations.
RNS link: https://www.londonstockexchange.com/news-article/KAP/kap-expects-adjustments-to-its-2024-production/16286256
i wouldnt get too excited. yca is disconnected from spot and expect diso**** to widen out to 20% as we go up. 5% move spot = 2% move in yca. in some ways a slow grind is good, but does show everyone is already long
Just got back from dinner and couldn't believe my eyes !
Strap in my lovely fellow Uranium investors, our time has come!
Hard to believe but Numerco is now saying 9800/10200 !
https://numerco.com/NSet
Numerco 9550/9700
Snooz not really sure but seems like they may have a lot of "poor" contracts and they say "As the market improves, we expect to continue to layer in volumes capturing greater upside using market-related pricing mechanisms."
9450/9550 Numerco
Anyone here understand the table "Expected realized uranium price sensitivity under various spot price assumptions at September 30, 2023" at https://www.cameco.com/invest/markets/uranium-price-sensitivity
Does it mean e.g. under the contracts that are currently in place (as of 30th Sept), if U3O8 spot was $100 in 2025, they are obliged to supply it at an average of $64 ?