Monday, March 21, 2011

Uranium Prices Fall on News of Japanese Nuclear Disaster

According to many sources, including the Financial Times and Bloomberg, uranium prices, and the stock prices of the companies exploring for and producing uranium, have crashed in the last few days.

Uranium prices on the spot market are down 27% to $50 US per pound since last Friday. [The spot price does not reflect the price in long-term contracts but may be indicative of trends in the future - ed.]

Uranium mining company stock prices are taking a beating:
  • Cameco: down 20% since March 10
  • Paladin Energy: down 25% since March 10
  • Uranium One: down 34% compared to pre-earthquake
The downdraft in stock prices is also pronounced in the non-producing exploration companies. According to Bloomberg the recent highs/lows of uranium explorers active in Quebec is illustrative:
  • Strateco Resources: Feb. 3/11 $1.30 - Mar. 18/11 $0.63 (drop of 52%)
  • Majescor Resources: Mar. 7/11 $0.27 - Mar. 18/11 $0.225 (drop of 17%)
  • Azimut Exploration: Mar. 4/11 $1.60 - Mar. 18/11 $1.35 (drop of 16%)
  • Otish Energy: Feb. 22/11 $0.23 - Mar. 18/11 $0.195 (drop of 15%)
The long touted "nuclear renaissance", which had already been faltering before the earthquake in Japan, is now apparently on hold for an indefinite period. That bodes well for anyone opposed to uranium exploration and mining.

For more information: http://www.ft.com/cms/s/0/a2c9bd0c-532b-11e0-86e6-00144feab49a.html#axzz1HEVBVdKU.
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WQ-CAMU / COQCEU

We are a community group that works to protect our human, environmental, and economic health from the risks associated with uranium. Our goal is to obtain a permanent moratorium on uranium exploration, mining, and processing in MRC du Pontiac and MRC des Collines de l'Outaouais. To meet this goal our group advocates, educates, and builds coalitions.

Nous sommes un groupe communautaire travaillant à la protection de la santé humaine, environnementale et économique des risques associés à l'uranium. Notre objectif principal est d'obtenir un moratoire à long terme sur l'exploration et l'exploitation d'uranium dans la MRC du Pontiac et dans la MRC des Collines de l'Outaouais. Afin d'y parvenir, notre groupe défend, éduque et bâtit des coalitions.

More information: wq-camu@know-uranium.org



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