RE:Spot Market DefinedQuakes is a joke.
The spot price is important because it is VISIBLE. It shows the true sentiment out there.
Long term contract prices and terms are INVISIBLE. No one knows the actual transaction.
So guess which one attracts public and investor attention? And which one moves stocks?
The spot price drags stocks down when it sinks ..... as it is doing now. And of course it lifts stocks when it is strong.
It takes a huge market imbalance for the spot price to move strongly upwards because there is so much uranium produced and made available at prices below $30.
Quakes is not being honest to his followers. That is why he avoids talking about the spot price. He knows it is a headwind to his optimistic program.
Utilities are a lot smarter than Quakes and they have avoided getting caught up in his wild "massive supply deficit". They have sufficient inventories.
Quakes and his hard core followers have often made fun of utility managers because they think the managers have been negligent by not bidding up the spot price or negotiating high price long term contracts.
A bull market in uranium is hard to come by. You have known this for 10 years now.
How many more years will it take to see the next bull market?