Traxys North America announced it has entered into an agreement to purchase all the UF6that the U.S. Department of Energy (DOE) had intended to sell (through 2013) to fund the clean up at the Portsmouth Gaseous
Diffusion Plant. In early March, the DOE issued a Secretarial Determination for the transfer of up to 1,605 tonnes of natural
uranium equivalent material per year for 2011 through 2013, with no more than 450 tonnes transferred in any given quarter.
Traxys CEO Mark Kristoff commented, "With this UF6 contract, Traxys confirms its continued long term commitment to the
nuclear fuel business. We intend to manage this supply of material into the uranium market in a commercially responsible
manner and look forward to working with new and existing customers to meet their supply needs." After weeks of negative
sentiment, this news comes as a nice reprieve for uranium investors. In the past, the DOE sold this material through an auction
process, putting downward pressure on the spot price. A Bay Street analyst commented that he believes, "Traxys will be a far
more responsible seller of the material and will not likely sell in a market disruptive manner." Canaccord Genuity’s top uranium
picks include: Paladin Energy and Uranium One. Cameco is the world's largest supplier of uranium and a significant fuel
conversion services supplier.