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Aggressive Speculators Could Send Uranium to All-Time High
TradeTech Chief Executive Gene Clark told StockInterview, “The reference cases we’re looking at will peak at about $50 to $55 per pound in about three years, and will then drop off pretty drastically.” Clark added that if projects, such as Cameco’s (NYSE: CCJ) Cigar Lake in Canada’s Athabasca Basin or BHP Billiton’s (NYSE: BHP) Olympic Dam in Australia were stalled, “Then you would wind up with $100 per pound uranium, I think.”
Clark also warned that China, India, Japan, Korea and others may catch U.S. utilities off guard. He told StockInterview, ““In reality, the U.S. utilities, which tend to wait longer to contract, may be the ones on the losing end because the Chinese and the Indians will contract early.” Clark added, “When the U.S. utilities come to the market, they’re going to look around say, ‘What happened? Where’s the uranium?’”
Spot Uranium prices peaked at $43.40/pound in May to July 1978 and stayed around that level until the Three Mile Island “accident” on March 28, 1979 started a twenty-year depression in uranium prices. The latest spot price reported by Trade Tech LLC on April 14th was $41.20/pound. Clark strongly warned uranium prices could peak by 2008 and head lower until about 2011-2013. He told StockInterview, “I can see it coming back down to $30, maybe below $30 per pound. Then, in the long run – out through 2020 – getting easily back up over $40 per pound.”
About StockInterview.com
StockInterview.com is an internet news website bringing the latest investment trends, from developments in the uranium and coalbed methane sector to biotech breakthroughs. Please visit http://www.stockinterview.com/tradetech-clark.html to read James Finch’s entire interview with TradeTech Chief Executive Gene Clark, entitled “Speculators Could Drive Uranium to $55/pound.”
Contact:
Julie Ickes
Editor, StockInterview.com
Phone: (941) 929-1640
Email: editor@stockinterview.com
http://www.stockinterview.com
(Source: StockInterview.com)
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