Spot Uranium Falls Below $40/Pound Benchmark for First Time in Four Years

The West Australian reported that spot uranium prices fell to below $40/pound for the first time since August 2009, placing pressure on uranium explorers.

As quoted in the market report:

A hearty increase in the spot price is needed to force WA’s fledgling uranium sector into first gear, with Canadian giant Cameco indicating a price of more than $70/lb is needed before it can give the green light to its massive Yeelirrie or Kintyre deposits.

To view the whole West Australian report, click here.