I know, I’m sorry for the tap out title on this piece. It is spineless and cowardly. But I’ve gotten my hopes up enough times now, just to watch uranium prices breach new lows, that I will not tag along again.
It does appear, based on the very thinly traded reporting I have access to, that pricing for uranium fuel has increased dramatically in the past few weeks from around $28 per pound, to around $32 per pound.
This is of course nowhere near the $50 level it was at just a few short years ago. However, steps are to be taken incrementally. I want to see this hold up, then wait and see some more.
CCJ remains my only uranium play; I made a short trade in UEC for a wash earlier this year and decided the time was not right for the small miners.
My earliest prediction following the Fukushima Daiichi meltdown was that, if a V shape recovery could not quickly follow the price deflation, then at or around the three year anniversary would mark the recovery in nuclear fuel investments.
So far this year, those hopes have not been met. But there is still time; a few months later is not much off, and I could live with a year or two even…provided the rewards are rich enough.