GREY:JNRRF - Post by User
Post by
megphion Dec 23, 2003 1:56pm
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Post# 6815203
Share Price
Share PriceIt is my understanding that the reason why we saw a move in the share price yesterday was because of an increase in the price of uranium for the week. Although the price is not availbale to the public until about 5:00 p.m. Eastern on Tuesdays, it is released to subscribers of the UXC consulting publication on Monday mornings. I phoned UXC this morning, and although they wouldn't give me the exact price, I came away with the impression that $15.00/lb may not be too far off. It was mentioned that the posted spot price does not take into account the potential closing of Rio Tinto's Rossing Mine in Namibia. If that is confirmed, spot will jump again. We may see $16/lb uranium before the results on the first 3 holes are even released, and if that is the case, then a $0.50 share price in anticipation may not be out of the question. In some circles, they call this a "perfect storm."