Is There A New Bull Market for Uranium Ahead?

Resource Investor reports Ux Consulting posted its weekly uranium spot price at $46 per pound last week.

So does uranium at $46 per pound count as cheap, or expensive? That depends on how you look at it…

In the year 2000, uranium was well and truly dirt cheap. Thanks to a seemingly endless supply from decommissioned nuclear stockpiles, no one wanted the stuff –  and the price of U308 (a standard mix of uranium oxides) fell to just $10 per pound.

Seven years on, however, uranium was at the pinnacle of a stunning bull run, riding a wave of increased demand for nuclear power plants around the globe. By 2007, U308 had hit an incredible $136 per pound – more than a 1,200% price increase from the bear market lows.

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