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UEX Corp T.UEX


Primary Symbol: UEXCF

UEX Corp is an exploration and development company. It is engaged in the exploration and evaluation of its mineral properties located in the province of Saskatchewan. The company's projects include the Hidden Bay Project, Horseshoe-Raven Project, West Bear Project and others.


OTCQB:UEXCF - Post by User

Post by MegaMAxTZon Jul 06, 2020 10:38am
188 Views
Post# 31228336

Rate of Production to be curtailed until Spring of 2021

Rate of Production to be curtailed until Spring of 2021 The way this whole event is progressing, it will be very unlikely for production at Cameco and Kazatomprom to even begin until early 2021. And that is "beginning" production and not full rate production.

I have stated before even looking at Cigar Lake or McCarthur River - first they have to find and rehire the employees that are qualified - especially for MCRiver. THEN who of those employess are going to get into a 6 X 6 elevator box for a few minutes and descend down hundreds of Meters, breathing in who knows what to get to the mine. A rusting out mine I will say.

Could be 3 + years since equipment has functioned at McCarthur River. Think it is going to fire up immediately without any problems. So now for sure IMHO, McCarthur River will never reopen unless they get LT contracts at over $ 70/LB.

And now Cigar LAke is going in the McCarthur River direction - sitting idle - as well as a number of KAZA mines.

Mined global U production may be below 100 Million LBS in 2020. That is 274,000 LBS of Uranium produced every day. Maybe 100 M - could be 90 Million who knows.

And the Nuclear Power Plant fleet continues to eat 184 Million LBS of Uranium this year. That is 504,000 LBS of Uranium consumed every day. A deficit of 5 1/2 Full 42,000 LB Truckloads of U every - single - day. That is a deficit of 1.6 Million LBS THIS WEEK ALONE until next Monday July 13.

That is almost 10 % of McCarthur River at FULL PRODUCTION of 18 Million LBS/YR.  Deficit THIS WEEK ALONE. Where are the Uranium LBS needed going to come from ??

This is getting pretty interesting now - nobody but nobody  predicted THIS event in July of 2019 that is for sure. Gold, Silver, Copper, Platinum, Oil - no other global mined metal is going to go through the likes of Uranium - and it is going to get much tighter when Kazatomprom and Cameco cannot find the U LBS they need on Spot. 

$ 70/LB and up - how fast will it get there we shall see.

MM
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