After the Fukushima nuclear disaster in Japan roughly three years ago, the uranium market has been crushed. The spot uranium price is off by more than 50% and now sits at multi-year lows. The stock prices of junior uranium miners such as Ur-Energy Inc. (NYSEMKT:URG) and Uranerz Energy Corporation (NYSEMKT:URZ) are only now starting to recover while Uranium Energy Corp (NYSEMKT:UEC) continues plunging towards financial crisis lows.
Surprisingly, the long-term market dynamics for uranium remains very bullish despite the current negative market climate. News that Japan approved nuclear power in the energy mix and could have reactors back online by the end of the year adds growing short-term optimism.
The recent weakness in Uranium...
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