Energy Fuels Ord Shs T.EFR

RE: Uranium Spot Price Update

[Peter518]

$0TradeTech's Uranium Spot Price Indicator is $49.00 per lb U3O8.$0$0$0$0$0$0$0$0$0$0$0$0The uranium spot market price jumped significantly this week due to robust buying interest. TradeTech’s Spot Price Indicator is $49.00 per pound U3O8, an increase of $4.00 from last week’s value on the basis of the most recently concluded transactions. Eleven transactions are reported for the week. Utilities were buyers in half of the transactions. A significant portion of the material purchased was in the form of UF6. Financial entities accounted for the remainder of the volume. The re-entry by financial entities into the uranium market as buyers is viewed as a strong signal that the spot uranium price has indeed bottomed. Many buyers are evaluating their procurement strategies going forward, with some deciding to act now to conclude purchases. Others, with more discretionary needs, intend to wait for prices to stabilize before re-entering the market. Presently, active buying interest totals 1.7 million pounds U3O8 equivalent. Supply remains sufficient to meet current demand, but sellers are much less anxious to complete sales, due to the increase in buying interest and the subsequent price increase over recent months. As a result, sellers have consistently raised offer prices, and buyers are willingness to accept higher prices.$0$0$0$0$0