Brad's Desktop
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Written by Matt Hougan
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April 09, 2007 12:33 pm EDT |
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Spot uranium prices shattered the $100 barrier last week, with prices rising 18 percent to $113/pound at a U.S. auction by Mestena Uranium. The company offered 100,000 pounds of yellowcake and found ample demand from utilities, traders and hedge funds.
Prices have been helped by heavy rains (which make uranium harder to mine) and the announced long-term delay Cigar Lake, a major new mine expected to come online (after the delays) in 2010.
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