Something cooking? Possibly.
I have no insight into what’s occurring behind the scenes in U.
However I have seen this kind of price action before just prior to big news.
What I would like to see is a long term contract north of $60/lb with a spot price inflation rider attached.
The utilities need Uranium. There is no other option. Texas showed Nuclear’s value so the above scenario is not that much of a fantasy. I believe on the 3rd quarter conference call Cameco said they were not interested in contracts under $50 even though there was interest. A contract like that would double the spot price overnight.
Anyways loving CCO.to, NXE.to, DML.to, GLO.to and calls on U.to.