The Conversation (0)
energymetalnews.com/" target="_blank" rel="nofollow">Energy Metal News News Commentary - The long-term uranium price ended September at $96.50 per pound, above the $95 peak reached in 2007, while the spot price closed the month at $89.63, according to figures published by Cameco. The prices that utilities agree to pay years in advance are now running ahead of the spot market, a sign that buyers are planning for tighter supply later in the decade. Producers, developers and lithium suppliers spent the past two weeks reporting results, signing offtake agreements and reorganizing their portfolios. Active Companies from around the markets with current developments this week include: Cameco Corporation (NYSE: CCJ), Uranium Energy Corp. (NYSE American: UEC), enCore Energy Corp. (NASDAQ: EU), Elevra Lithium Limited (NASDAQ: ELVR), National Energy Services Reunited Corp. (NASDAQ: NESR).
Uranium equities have not followed contract prices higher. As of early October, Cameco shares were down 6.9% for the year and 11.6% over the prior month, and the VanEck Uranium and Nuclear ETF (NLR) was down 16.4% year to date, according to Yahoo Finance. Market observers have pointed to utilities' slow pace of new term contracting as one reason the record contract price has not yet translated into share price gains.
Policy support for new reactors continued to build. On September 30, the United States and the Republic of Korea announced a framework anticipating about US$120 billion of Korean investment to help deploy Westinghouse reactor technology in the United States, covering up to six AP1000 units and up to two APR1400 units. The terms are non-binding and subject to final negotiations, definitive agreements, site identification, regulatory approvals and financing.
In lithium, Chinese battery-grade lithium carbonate averaged 122,350 yuan per tonne on October 9, according to Shanghai Metals Market, as buyers returned cautiously after the National Day holiday. Producers outside China continued to secure long-term buyers and new extraction projects.
CONTINUED... Read the weekly sector breakdown in The Roadmap at: stockpreachers.com
In other industry developments and happenings in the market this week include:
Cameco Corporation (NYSE: CCJ)
Cameco, which holds a 49% interest in Westinghouse, acknowledged the U.S.-Korea framework on September 30. Westinghouse is expected to receive about US$2 billion in value per APR1400 unit through intellectual property licensing, engineering and procurement services, subcontracting and long-term fuel fabrication supply. The framework also contemplates a potential Korean equity investment in Westinghouse, which Cameco does not expect to change its ownership interest.
"Cameco remains focused on supporting the US government's objective of quadrupling US civil nuclear capacity by 2050," said Tim Gitzel, CEO of Cameco.
Uranium Energy Corp. (NYSE American: UEC)
Uranium Energy reported fiscal 2026 production of 229,294 pounds of uranium for the year ended July 31, and sold 400,000 pounds from inventory at a weighted average realized price of $93.13 per pound for revenue of $37.3 million. The company held $753 million in liquid assets, including $495 million in cash, with no debt, and 1,256,000 pounds of U3O8 in inventory.
"In fiscal 2026, UEC became a multi-mine uranium producer," said Amir Adnani, President and CEO. "We enter fiscal 2027 debt-free with an exceptional balance sheet and the ability to fund our ongoing growth."
enCore Energy Corp. (NASDAQ: EU)
enCore completed the distribution of 35,000,000 common shares of Verdera Energy Corp., which holds its New Mexico in-situ recovery uranium assets, to enCore shareholders as a special dividend on September 30. enCore retains about 15 million Verdera shares and is now focused on its South Texas operations, its South Dakota project and its U.S. project pipeline.
"Completing the Verdera distribution delivers on our commitment to put value directly in the hands of enCore shareholders," said Rich Little, Chief Executive Officer of enCore.
Elevra Lithium Limited (NASDAQ: ELVR)
Elevra signed a binding offtake agreement with LG Energy Solution on October 7 for 240,000 dry metric tonnes of spodumene concentrate over four years from its operating North American Lithium project in Quebec, with supply beginning later this year. Elevra CEO and Managing Director Lucas Dow described LG Energy Solution as 'a committed customer for a meaningful portion of NAL's production'.
National Energy Services Reunited Corp. (NASDAQ: NESR)
NESR signed an agreement with Saudi Aramco on October 8 to deliver the Aramco 2027 Lithium Demonstration Project, described as the region's first direct lithium extraction project. The project is designed to produce 2,000 tonnes per year of battery-grade lithium carbonate using NESR's LiThara platform, with commissioning planned for late 2027. The contract runs up to five years with a value of approximately US$200 million.
Follow the Metals That Power the Grid
The Roadmap from Stock Preachers is an in-depth market report published every Monday, Wednesday and Friday, tracking the sectors, commodities and companies moving the market each week. Access is free during the public beta at stockpreachers.com.
Contact Information:
energymetalnews.com
Media Contact: info@energymetalnews.com
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a market commentary and is not a paid advertisement. It is neither an offer nor a recommendation to buy or sell any security.
This article is being distributed by Energy Metal News, which is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. This is an independent market commentary published on a non-paid basis. MEL has not been paid any fee by any company mentioned in this article for its production or distribution, and MEL has no advertising or digital media agreement with any company mentioned in this article. The companies mentioned have not reviewed or approved this article.
Market Equities and its owners, operators, directors, and affiliates may, from time to time, hold positions in securities mentioned in this article or in the broad-market index funds that track them, and reserve the right to buy, sell, or hold such securities at any time without further notice.
Information in this article was obtained from sources believed to be reliable, including company news releases, published commodity price data and public market reporting, but its accuracy cannot be guaranteed. Investing in securities involves risk, including the possible loss of some or all of your investment.
References to the companies named in this article are provided solely as market and sector context and as summaries of each company's own public news releases. No partnership, affiliation, or endorsement is implied, and nothing in this article is a recommendation to buy, sell, or hold any security. Quotations attributed to company executives are reproduced from those companies' own news releases. Uranium and lithium prices cited are third-party published figures and may differ from prices realized by any company. The U.S.-Korea framework described is non-binding and subject to final negotiations and approvals. Mining and mineral processing involve significant operational, regulatory and commodity price risks.
Stock Preachers Disclosure. Stock Preachers, including its market report The Roadmap, is a market-commentary publication owned by MEL, and references to it in this article constitute promotion of an affiliated product. Stock Preachers is not a broker-dealer, and nothing on its website, in The Roadmap or in this article is financial, investment, tax, or legal advice. Its content is for informational and educational purposes only. Always do your own research before making any investment decision.
Forward-Looking Statements: This article may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements made by the companies mentioned in their own news releases. Such statements involve risks and uncertainties, and actual results may differ materially. Readers should review each company's filings with the SEC.
View original content to download multimedia:https://www.prnewswire.com/news-releases/long-term-uranium-price-moves-past-its-2007-peak-while-energy-metals-deals-keep-coming-302905495.html
SOURCE Energy Metal News
