PDN 1.19% 8.5¢ paladin energy ltd

another supplier in trouble

  1. 548 Posts.
    From Macquarie

    Anglo Gold Ashanti reportedly stated that its uranium trading arm, Nufcor International, may need to declare force majeure on some of its uranium deliveries from its Vaal Rivers project in South Africa due to power-related problems. The project produces uranium as a gold by-product and output was almost 1.4mlbs U308 (565tU) in 2006. We expect output to be down by at least 10% pa for the next four years, with losses equal to around 50–100tUpa. These two announcements prompt us to retain our bullish 1H08 stance on uranium, and we expect the uranium price to rise to $80/lb in the near term.
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