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IBTimes reported the uranium market saw an increase in shares especially in Paladin Energy (TSX:PDN,ASX:PDN) on speculation Cameco (NYSE:CCJ,TSX:CCO) may make a move for the company.
IBTimes reported the uranium market saw an increase in shares especially in Paladin Energy (TSX:PDN,ASX:PDN) on speculation Cameco (NYSE:CCO,TSX:CCJ) may make a move for the company.
As quoted in the market news:
It’s hard to imagine today but in the opening weeks of calendar 2007, when the uranium bubble was raging in full force, Paladin’s share price temporarily surged above $10.
The positive boost underneath the share price since has little to do with price developments or market activity in the global spot market for U3O8, with industry consultant TradeTech reporting the market is quiet, if not very quiet. The consultant left its indicative spot price unchanged for the week ending on Friday, at US$52/lb.
Click here to read the full IBTimes report.