RE:RE:RE:huge stockpiles worldwideBeyond citing supply/demand and bullish market sentiment I don't have an answer to your question about why the spot price ran up in 2007 and 2011.
Looking forward from today the long term clearly indicates uranium will go up. Looking forward from 2011 the long term trend is (still) down. Perspective depends on your starting point.
I like Denison and Cameco. They are in the right place and the right time is rapidly approaching. I don't have the courage to scale into a position in Cameco now, buying in increments as it goes down to 9-8-7...as it may well do. I will certainly own it at some point in the next few years. I do own Denison and am in it for the long term. It won't matter that I paid .60 and it could drop to .50 or lower...I will just buy more.
I liked the article very much, found it thought provoking. I do think when uranium turns, it will happen quickly. As humanity is confronted with the hard environmental consequences of burning carbon those consequences may compound exponentially (quickly) over time and not incrementally (slowly) as the world's current chickensh#t responses to global warming seem to presume.
This outlook puts me--and the uranium investor--in the emotionally contradictory position of hoping for the best while preparing for the worst.
Just my opinion.