UEX Corp T.UEX

RE:John Quakes on Uranium

[rovaniemirover]

The barchart that John Quakes posted on Uranium supply, and shared by mangoe, is quite interesting, but something isn't right in the whole situation.  2018 -70mm lbs; 2019 -75mm lbs; 2020 -80mm lbs and 2021 expected -90mm lbs of uranium supply.  This suggests that over the four year period that will end this December, about 315 million pounds of uranium has been taken out of the supply equation.  At the same time, we heard in 2020 that Cameco was shutting Cigar Lake and buying uranium in the open market to meet contractual obligations, then a quarter later restarting Cigar Lake because no pounds were to be found in the open market, then again shuttingf Cigar Lake and buying in the open market.  Now we have several uranium miners and ETF funds making purchases of uranium in the open market.  yet, hundreds of millions of pounds have been taken out the supply.  All that, and prices have not moved north of $30/lb, and actually fell over the past 8 months or so from $34/lb to just over $30/lb.  How can this be?!?!  Can anyone make sense of this all?  If the chart provided by Quakes is accurate, and the announcements of uranium purchases in the open market by UEC, DML, Yellow Cake, others, is accurate, who is supplying and at what price?!?  Someone help me here, cause I feel like complete idiot not understanding how this market for uranium works.