VIDEO - Mickey Fulp: Fukushima Still Impacting Uranium 9 Years Later
To learn more about what’s ahead for uranium, INN sat down with Mercenary Geologist Mickey Fulp at this year’s PDAC convention.
Uranium prices have been rangebound below US$25 per pound for most of 2020, with investors still waiting to see what catalyst could push prices up.
“We thought something that Trump would do would get the price moving. In his budget proposal (there’s) US$150 million a year to buy physical uranium from domestically mined sources,” he said. “But the market did not react to that at all.”
Fulp said the world is oversupplied with uranium, and it is still working through Japan’s surplus.
“When that ends the price will go up,” he said. “Also when the US utilities come back into the market (the) price will go up, but I can’t tell you when it will happen …. uranium is a very opaque market.”
Fulp also shared his thoughts on Trump’s budget proposal and what it could mean for the space.
“All the US is capable of producing right now is 3 million pounds a year if they ramp up,” he said on the sidelines of the show. “If they do that during 10 years that is 30 million pounds — that’s about 60 percent of what we use annually now.”
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.