Uranium market participants had to exercise patience again in 2019. Here are our top uranium news stories of the year.
The U3O8 spot price has remained relatively flat for the majority of 2019.
The ongoing US Section 232 uranium import investigation weighed on the sector, preventing the price from climbing much above US$26 per pound.
It remains to be seen what 2020 will bring for the market — for now, let’s take a look at what happened this past year. Scroll down to see the list of our most popular uranium news stories of 2019.
First on our list of top uranium news stories of 2019 is an interview with Nick Carter of UxC at this year’s Prospectors & Developers Association of Canada (PDAC) convention. Carter discussed Section 232 and the direction he believed the resource would go based on the possible outcome of that investigation.
“I think once that’s announced we’ll have a little bit more clarity in terms of where potentially price may be headed and whether there’s a tariff or a quota situation on US uranium,” said Carter.
Although Section 232 was still up in the air, he offered the Investing News Network (INN) a prediction on uranium’s price movement for the year. Read on to see his thoughts.
Unsurprisingly, investors wanted to hear from Lobo Tiggre, CEO of Louis James LLC, to get his thoughts on the uranium space.
Speaking on the sidelines of the 45th annual New Orleans Investment Conference, Tiggre told INN that he remains a self-proclaimed uranium bull, pointing to the need for U3O8 as a clean energy fuel. Despite this, he noted that the current market has left producers and utilities out in the cold in terms of contracts, and said he did not anticipate any agreements being signed at current prices.
Click here to find out what other factors he thinks could potentially support this energy resource.
Next on our list of top uranium news stories is another interview with Tiggre, this one from earlier in the year during PDAC. Even then, Tiggre was eager to talk uranium due to his strong belief in the resource.
The CEO stood firm on his belief that uranium was prime to move upwards, telling INN, “I do think uranium’s time has come.” He went on to say that investors should take advantage of broad market volatility to get into the uranium sector.
Head here to listen to Tiggre discuss why market participants should turn their attention to element.
While many uranium stories revolved around Section 232 during the year, this one helped to explain why the US government began investigating the uranium space in the first place.
In 2018, the US Secretary of Commerce initiated a Section 232 investigation into foreign uranium imports and their effect on national security.
The issue was raised by Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) and Ur-Energy (TSX:URE,NYSEAMERICAN:URG) — US-based miners concerned that uranium sourced from around the world might be of inferior quality and could pose a national security risk.
Read more for a glimpse into US President Donald Trump’s stance on tackling the matter, as well as how several companies have been impacted since the investigation began.
In our final top story of 2019, INN spoke with Mercenary Geologist Mickey Fulp at this year’s PDAC convention in March in order to gain his insight into the future of the uranium market.
“I bought all my uranium stocks quite awhile ago,” he said. “I can’t tell you when it’s going to come, but there will be a uranium shortage, there will be great demand, the price will go up; and stocks are very dependent on the spot price.”
Additionally, you can click here to get Fulp’s take on Section 232.
What were your favorite uranium news stories in 2019? Let us know in the comments.
Don’t forget to follow us@INN_Resource for real-time news updates!
Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.
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.