Uranium Spot Price Continues to Rise: Don't Miss Out

Tradetech is reporting that the spot uranium price jumped to $120/lb last week, while the June 2007 futures traded on the NYMEX at $140. At the rate that we are seeing price increases in this market, $200/lb might not be out of the question by year end.

Given the news, a quick glance across the uranium sector reveals a lot of very attractive prices. Most uranium miners have yet to fully recover from the recent correction, and the companies that can fully benefit from the spot price (Paladin (PALAF.PK), SXR Uranium One (SXRFF.PK) appear to have the market cornered for the time being.

It will be interesting to watch the new futures trading and see if we get activity in the longer dated futures over the next few days.