U3O8 Uranium.

[stolwyk]

Rann is all out to extend U mining in his SA State and it is beyond doubt that SA and its U miners are clear winners.

I expect these U companies to appreciate in price now the issue has been settled. Some investors may now favour U companies in NT and SA.

As Uranium will be held back by the WA and Qland Govts, one can expect U prices to firm up. No doubt, producers and consumers have been waiting on the outcome of the voting.

If the LAP wins the election then there will be quite some time before their policy is changed.

I doubt if Howard will overturn the stance adopted by the non-mining states.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[pago]

hi gerry,it seems the sa ur stocks will gain the most from the alp policy change.i dont think i will join the rush on monday but will be interested to see prices,ags/$2.55.pnn$2.65.cuy$2.63.hav$2.27 and others.i will see whats been overlooked and over cooked.interesting to see where these s.p are on monday.cheers pago.

[stolwyk]

NYMEX TO START TRADING ON MAY 6-7

http://www.cme.com/trading/dta/dist/22152.html






Uranium Futures: Uranium

Trading Unit: 250 pounds of U308

Price Quotation: U.S. dollars and cents per pound

Minimum Price Fluctuation: $0.05

Trading Hours: The contracts are available for trading on the CME Globex® and NYMEX ClearPort® electronic trading systems from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM.

Trading Months: 36 consecutive months

Last Day of Trading

Settlement: Financial, based on the spot month-end U3O8 price published by Ux Consulting Company, LLC.

Margin Requirements: Margins are required for open futures positions.

Trading Symbol: UX

[stolwyk]

Australia to supply uranium to Asia


http://www.atimes.com/atimes/Asian_E.../IE05Dk02.html

[stolwyk]

$120:

http://www.stockinterview.com/News/0...etail&id=66356

[stolwyk]

nymex uranium futures survey results
http://www.stockinterview.com/News/0...es-Survey.html


RPT-Banks, funds seen first in NYMEX uranium trade
http://yahoo.reuters.com/news/articl...mktNews&rpc=44

[Seti]

Nymex June uranium futures - $140

[stolwyk]

One can't predict prices of Futures too far ahead if the spot prices are far and few between.

There was a Jan 2008 future price of $150. Regardless of it being or not being a manipulated price, it is useless to even refer to it.

On the first day of futures trading at an assumed spot price of $120, the end June futures stood at $135. That is a $15 rise only for about 7 weeks and I thought it was somewhat low considering the few small previous sales of U at rapidly increasing prices.

And so it was, with the latest end June futures at $143, which I think is achievable.

I don't know the latest spot sales, however, it is clear to me that one should'nt take any immediate notice of futures which are more than 2 months away (Sometimes less than that), while spot sales are sporadic.

It seems therefore that the instigation of Futures by NYMEX has not rattled the physical seller. On the other hand, the physical buyer will need to conform with higher prices to come IMHO. Hopefully, they may come to that conclusion.


Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

Protection of resources has now extended to Uranium.
Russia who uses state companies to achieve its aim -as does China- is setting up a Uranium Corporation while South Africa is complaining that too much U could be leaving its shores while they need it themselves.

So, it is clear, that strategic stock piles will be built in various countries with the result that the non producing country will need to pay while this resource is being locked up:

http://www.upi.com/Energy/Briefing/2...s_price_soars/


Both Russia and China subsidize their state run companies which therefore are in a prime position to acquire companies if they are allowed to by other countries.

Uranium now joins Oil and Nickel as scarce and strategic resources and the competition for these commodities is increasing.

Gerry

[stolwyk]

Rio Tinto predicts uranium boom
Bill Condie, Evening Standard
22 May 2007

London-listed mining giant Rio Tinto today predicted a boom in uranium sales, with record prices having no effect on demand.



With global warming increasing the appeal of nuclear power, and uranium prices surging, the company wants to double production by 2010 and triple that to about 20,000 tonnes a year by 2020.
Chief financial officer Guy Elliott said uranium offered one of the company's most exciting immediate growth stories.

'Short-term market movements can open opportunities which may not be enduring but which offer substantial value as long as you are able to capture them,' he told an investor seminar in London. 'Rising long-term price trends also increase options.'

Rio energy chief executive Preston Chiaro said record uranium prices of $122 (£61.90) a pound havenot curbed demand because the cost of uranium is a relatively small portion of the operating costs of nuclear power plants compared with coal-fired and gas-fired plants.

Chiaro added that the uranium market is unlikely to return to surplus until BHP Billiton's expansion of Olympic Dam production to 15,000 tonnes a year from 4500 tonnes is completed in the middle of the next decade.

Rio plans to extend the life of its Rossing mine in Namibia and Ranger mine in Australia's Northern Territory. It hopes to move to underground mining at Ranger to extend its life past the current projection of 2011.

It is also in discussions with local people in an attempt to gain permission to develop the controversial Jabiluka deposit, which has been on hold following protests in Australia.

http://www.thisismoney.co.uk/investi...5&in_page_id=3

Comment: It appears that the Jabiluka deposit won't be mined for the time being.