Dear Fellow Shareholders –
Our analysis of the current uranium market has brought several positive developments to light – supporting our belief that a continued rise in uranium prices can be expected. This is an exciting development for Westwater, and something we believe you will find interesting.
Market Conditions: (From Ux Consulting)
Support for these Market Conditions:
- Spot market prices for uranium concentrate are up from $17/lb. to $27.50/lb. since 2016, and up almost $5/lb. so far in 2018.
- Spot market volumes for uranium concentrate are almost 57 million pounds so far in 2018, already the highest spot market volume since 1992. For perspective, the next highest whole-yearspot market volume was just under 45 million pounds in 2013. This shows positive interest in securing uranium supplies at lower prices as a hedge to rising prices.
- Spot market five-year futures are higher by several dollars at $34/lb. over just the last quarter.
- Forward looking uranium concentrate price indicators are the highest seen since 2011 when the price was approximately $60/lb.
At the same time that the uranium industry is reducing concentrate production, nuclear power generating facilities continue to come on line worldwide with, now, 451 operable power plants including 8 recent Japanese restarts. Additionally, 58 nuclear plants are under construction at this time according to the World Nuclear Association. This growth will increase demand for uranium concentrate by an estimated 13% as these plants come on line.
- Reduced production by companies in Kazakhstan, as well as by Paladin and Cameco has put fewer pounds of uranium concentrate into the market.
- Reduced underfeeding of low-grade uranium tails is putting less uranium into the market.
- Reduced sales of uranium by the U.S. Department of Energy also puts less uranium into the market.
- Heavy investor purchasing by firms apparently intent on holding physical uranium suggests a coming price rise.
As a result, we see improving uranium prices in the nearer term.
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Uranium market positive developments
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Last
$5.13 |
Change
0.300(6.21%) |
Mkt cap ! $1.212B |
Open | High | Low | Value | Volume |
$4.89 | $5.14 | $4.85 | $6.019M | 1.195M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 283 | $5.12 |
Sellers (Offers)
Price($) | Vol. | No. |
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$5.13 | 32506 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 283 | 5.120 |
1 | 283 | 5.110 |
4 | 11598 | 5.060 |
1 | 2696 | 5.050 |
4 | 15784 | 5.030 |
Price($) | Vol. | No. |
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5.140 | 2696 | 1 |
5.150 | 18547 | 3 |
5.160 | 2696 | 1 |
5.170 | 2696 | 1 |
5.180 | 14136 | 4 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
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Last
$5.08 |
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Change
0.300 ( 5.51 %) |
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Open | High | Low | Volume | ||
$4.91 | $5.13 | $4.85 | 128561 | ||
Last updated 15.59pm 28/03/2024 ? |
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