OTCQB:UEXCF - Post by User
Comment by
MegaMAxTZon Jan 15, 2019 12:12pm
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Post# 29234008
RE:RE:RE:numerco says ...
RE:RE:RE:numerco says ...So Niger produced about 7.3 Million LBS of Uranium from 2 mines in 2018. Less than 15 days of global supply last year using the 506,000 LBS per day. If they want to sell at $ 32 I suppose that is their business but normally business is about making money.
But that is likely a lot of money for them though with a GDP of just over $ 8 Billion. I am sure they would prefer to sell at $ 50 /LB or more .
Comparison is Cameco's McCarthur River mine alone producing about 13.5 Million LBS or 27 days of global consumption. And that will be ZERO LBS from this mine to at least 2021.
There are no other BIG mines in the world that can crank it up right now. Even Olympic in Australia - fine they have zillions of LBS but will not get at these LBS without ramping up copper which really cannot happen in a significant way. So that supply is steady for the next 20 + years at about 5 Million LBS per year or only 10 days of global consumption per year.
None of these other on the shelf projects are going to get going in the next 5 years at less than $ 60/LB LT. So all this shuffling of spot LBS back and forth are just shifting above ground LBS.
I also believe the easier Kazatomprom LBS are going to start dwindling and actually the LBS in the ground could be overblown, who knows. THAT will be a big deal.
We shall see but yes frustrating mid January and no real action yet. Back to work selling stuff for a profit............Hear that Uranium producers !!!!
MM