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Tuesday, September 05, 2006

Uranium spot price jumps to $52

The spot price of uranium jumped $3.50 over the past week to $52.00. It had been climbing rapidly in recent weeks, but not like this. At this rate, they might even re-open the uranium mine in the Grand Canyon (hopefully not).

Strathmore Minerals (combined links) issued a press release saying they've started the permitting process for a 2nd uranium mine, this time at Roca Honda. Back in February, they announced that permitting for Church Rock was proceeding as planned. Today they merely said that Church Rock is in its 2nd year of permitting. Today's press release doesn't say anything else new besides the initiation of permitting for Roca Honda.

UPDATE same day: Of course the spot price doesn't give any indication about volume or who's buying and how much of it is "discretionary" buying.

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