Yesterday I received reports that uranium U308 spot prices stood at $39.25 per pound as of March 2, 2015. This is a ferocious recovery from the lows of $28.00 in the middle of last year; a rally of 40%.
We are still at least another 50% short of where uranium spot was trading when the Fukushima reactor melted down. Still, this price recovery is constructive.
The recovery in uranium miners has taken longer than I expected. Certainly I was aware that this might happen, but I took early positioning because I figured there were better odds of the market pricing in a recovery early on. Instead, fearing the “Chernobyl Syndrome”, the market curled up into a fetal position and didn’t move for four years.
I remain long CCJ and, despite being very disappointed with the short sighted antics of their upper management, am willing to continue holding out for gains. CCJ’s operations continue to perform beyond reasonable expectations, all things considered.
After CCJ hits $30, I will donate a portion of the proceeds to the Canadian tax agency to offset the cost of chaining their Board of Directors and tossing them into a pit of despair.
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on my radar- uranium looks like a good play next several years, barring another disaster of course. Curious – would nuclear warfare increase u308 demand or decrease it? 😛 thanks cain
Hah! Funny
okay im reading about the different types of uranium. thx for unintentional homework assignment
also….. isn’t it interesting that we have come so far in advancing our energy technologies…. but yet still, through all the advancement, still use the steam turbine developed in the 1800s. like we go through this whole nuclear fission process- to automate the turning of the turbine. it still puts out the same steam that engines did 130 years ago. eels like we are just finding easier ways of doing the same thing…… now the steam engine, THAT was advancement. just a thought.
feel free to input and learn me a thing or two
It makes sense. Alternating current is generated from fast past rotation of a magnet around wire, per Maxwell / Biot-Savart laws. That process more or less requires mechanical energy, so a pressurized system like steam piping becomes basically necessity.
If you tried to create energy in other ways, like using the fuel to create a potential difference, you’d probably end up making a direct current, which would then need to be converted into mechanical energy to be reconverted into an alternating current.
I’d be fascinated to see what a closed model looks like that can convert nuclear power directly into an alternating current. Actually if anyone knows of any proposed solutions to that problem, post it here.
I followed you in and followed it down.
Clean energy -were gonna need it.