Uranium revivalThe Vancouver Sun reports in its Thursday edition shortages in uranium supplies will push prices even higher, analysts say. The Sun's Fiona Anderson writes that uranium, which trades by private contract rather than on an open market, sells for $36.25 a pound, up from $14.50 in December of 2003 (all figures U.S.). Kevin Bambrough, a research analyst with Sprott Asset Management, believes a shortage of supply could push prices over $50 over a long period. One of the causes for the shortage could be increased demand for uranium by nuclear plants. Mr. Bambrough predicts a "nuclear renaissance" with more nations turning to nuclear energy. Current supply wouldn't be able to keep up with that kind of demand, he said. In a pinch, as supply dwindles, nuclear plants might be willing to pay unheard-of amounts -- as high as $500 a pound -- short term to keep operating. Patricia Mohr, a commodities price analyst with Scotiabank, believes prices for uranium will hit $40 within the next six months. She agrees limited supply is a major concern. Vancouver-based Fronteer Development Group announced Wednesday it had discovered uranium in two new locations in Labrador.