Mineweb reports uranium price bouncing back with the development of nuclear power.

The market news is quoted as saying:

TER: Recently, uranium was selling for around $51/lb. and trending down. Is the price finding support?

GM: We are in the slow, summer siesta period with fewer volumes being transacted on the spot market. The average for the year is about $61/lb. We see support at or around the low-$50/lb. range this time of year. We certainly are looking for strength in the commodity price coming into Q4 as purchasers look for discretionary demand for 2012, and for any contract shortfalls to come into the market around that time.

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