NYSEAM:UEC - Post by User
Post by
mangoeon Nov 17, 2024 3:52pm
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Post# 36317276
Late on Friday afternoon the news that Russia has made ❗
Late on Friday afternoon the news that Russia has made ❗ Late on Friday afternoon the news that Russia has made good on their previous threat from September to introduce an export ban on $uranium to the US saw the spot price move $3 higher.
It provided the largest positive daily move in the spot price since January when Kazatomprom announced a downwards revision of its 2024 guidance.
In 2006 when Cameco’s Cigar Lake flooded the uranium price rallied 7x in 6 months as utilities rushed to buy uranium head-to-head with the apex predators - hedge funds.
The chart enclosed shows you where upstream oxide prices will go as frontend EUP has rallied close to 400% since Russia’s invasion. Ben and I are now believe the Cigar Lake moment is here again.