Speaking at the Platts Nuclear Fuel Strategies Conference in Washington on Tuesday, Economics, Scotiabank Vice President Patricia M. Mohr, a highly respected uranium and Commodities Analyst, estimates the city of $ 60/pound uranium reached the end of 2006. He said the manager of uranium fuel, hedge funds, investors, utilities and other experts in the field of uranium, uranium is the average of $ 60 to $ 65/pound in 2007. "This depends on its 2006 forecast, on average$ 46.45/pound.
Mohr noted that uranium does not trade or in combination with gold, gas or oil. "Uranium has behaved like a metal base, and could increase," he said. After UXC, uranium, rather than a new record of $ 54/pound on Tuesday. 'And' now 51 percent above the previous peak said Mohr. While waiting for the determination of its flagship products index in the month of August, and lower commodity prices Mohr in 2007, added: "L ' Uranium is the exception to this rule. I see these pricesgreater increase. Supply of uranium is exceptionally strong. "
While some referred to the conference for a future market, rather than uranium, Mohr discouraged. "The price of the seller, rather than the actual trade (as now)," he warned. "$ If uranium were traded in futures markets 100." He pointed out that uranium up to 72.2 percent in the last 12 months.
Mohr has two main reasons for the Rocket Ride of uranium in 2006:inadequate production of raw materials and a "change of transformation for the production of basic energy." This is a secular improvement, not a cyclical recovery, "said Mohr interview plan.
Was pessimistic about the short-term improvement in the supply of mines. "The Kazakhs are very ambitious in their plans," said Mohr. "The timetable is not realistic." Mohr echo similar comments on uranium mining in Kazakhstan earlier in this conference by Power Resources CEO Fletcher Newtonwho said that the Kazakhs, "The Big Thoughts."
Mohr sees no impact of the production of Cameco Cigar Lake until at least 2008, when it is expected to produce the Canadian uranium mine at about 7 million pounds. Cigar Lake is expected to produce 11.6 million pounds in 2009 and ramp up to 18 million euros in 2010. Mohr does not expect a major expansion at Olympic Dam in Australia until 2012 and 2014.
She believes that "the first basic requirement" of 198 million pounds of 168 nuclear reactorsbuilt between now and 2020 is an important driver (uranium) prices. "Mohr sees the nuclear renaissance in progress. The stocks in the uranium mines, she felt Paladin Resources a bright spot this year was, and noted that the companies had taken small steps of uranium or uranium producer in the United States.
At the same time, the group is Mohr uranium mining was Dustin Garrow of Paladin Resources, the future price of uranium of 80 pounds and under $ 100, and DavidMiller, Strathmore Minerals, whose research shows that the production of uranium mining, the United States could reach 25 million pounds per year by 2020.
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