Despite Optimism, Uranium Trades In $5 Band

IBTimes reported that despite guarded optimism among traders, analysts and miners in the uranium industry, the spot price has traded within a US$5 band of US$50 dollars for more than a year now.

As quoted in the market news:

The latest bit of indicative optimism is news that Canadian miner Cameco is on a bit of a buying spree that started with a $430 million bid for BHP Billiton’s ((BHP))Yeelirrie project a few weeks back. U308.com reports the company intends to nearly double its production by 2018 to take advantage of anticipated increasing demand and expected supply shortfalls.

Click here to read the full IBTimes report.