uraniuminvesting
Uranium has broken out, with the spot price rising to a 16 year high of US$106 per pound in early 2024. Despite a pullback to about US$85, prices were still nearly 55 percent higher than this time in July last year. Although the market's turnaround has taken time, experts are predicting a bright future as countries around the world pursue clean energy goals. Against that backdrop, ASX-listed uranium companies have been making moves in 2024. Below the Investing News Network has listed the best uranium stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener ...
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The US Department of Energy (DOE) said it plans to invest up to US$2.7 billion to strengthen the domestic nuclear fuel supply chain as part of President Joe Biden's Investing in America agenda. In a request for proposals issued on June 27, the DOE said it is looking to buy low-enriched uranium (LEU) from domestic sources in order to enhance national energy security and create new jobs in the nuclear industry. The DOE also wants to stimulate the development of uranium enrichment capacity in the US, and believes that this initiative will promote the safe and responsible buildout of facilities de...
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Strength in the US dollar briefly pushed the gold price below US$2,300 per ounce midway through the week, but the yellow metal soon bounced back, finishing Friday (June 28) at the US$2,325 level. The latest US Personal Consumption Expenditures (PCE) price index data came out that day, and it shows that in May core PCE was up 0.1 percent month-on-month and 2.6 percent year-on-year — in line with expectations. PCE is the US Federal Reserve's preferred measure of inflation, and can help shed light on its interest rate plans. “The lack of surprise in today’s PCE number is a relief and will be welc...
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Australia's Paladin Energy (ASX:PDN,OTCQX:PALAF) has announced plans to acquire Saskatchewan-focused Fission Uranium (TSX:FCU,OTCQX:FCUUF) in a transaction valued at C$1.14 billion. “The acquisition of Fission, along with the successful restart of our Langer Heinrich Mine, is another step in our strategy to diversify and grow into a global uranium leader across the top uranium mining jurisdictions of Canada, Namibia and Australia,” said Paladin CEO Ian Purdy in a press release on Monday (June 24). Under the terms of the agreement, Paladin will acquire 100 percent of the issued and outstanding ...
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The gold price rose as high as US$2,366 per ounce on Thursday (June 20), but had fallen back to the US$2,325 level by Friday (June 21) morning, looking set to end the week relatively flat. Its price increase came as US jobless claims fell by 5,000 to reach 238,000 in the week ended June 15; meanwhile, single-family housing starts fell by 5.2 percent in May. The data has boosted interest rate cut expectations for the fall. Central bank buying has provided major support for the gold price in recent months and years, and a new survey from the World Gold Council (WGC) indicates that 29 percent of ...
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Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF) announced on Monday (June 17) that it is expanding its exploration portfolio by acquiring two new projects that are prospective for uranium in Argentina's Neuquén Basin. The company's cornerstone asset is the Amarillo Grande project (AGP), where work continues to progress. “Within our flagship AGP we have the Ivana deposit moving into the pre-feasibility stage, and multiple established exploration targets that are ready for the next steps,” said CEO and President Nikolaos Cacos in a press release. “So it is time for us to look to expand our longer-term p...
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Rick Rule, proprietor at Rule Investment Media, shared his latest thoughts on gold, silver and uranium dynamics, as well as the opportunity he sees in the "hated" platinum and palladium sectors. Speaking first about gold, he said so far foreign central banks have been its main buyers. In his experience, retail investors only become interested in the metal when they get concerned about maintaining their purchasing power. At this point, that hasn't happened yet, and it may not happen for some time. "I will note that it took five years for this to happen in the 1967, 1972 timeframe. In other word...
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Boss Energy (ASX:BOE,OTCQX:BQSSF) has officially begun uranium production at its Alta Mesa in-situ recovery central processing uranium plant and wellfields, located in South Texas. “The start of production at the Alta Mesa Project is another key milestone in the implementation of our strategy to be a global uranium supplier with a diversified production base in tier-one locations,” said Managing Director Duncan Craib. “With operations now ramping up at both Honeymoon and Alta Mesa, we are on track to hit our combined nameplate production target of 3 million pounds of uranium per annum," he add...
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Speaking to the Investing News Network, Ben Finegold, director at Ocean Wall, shared his latest thoughts on uranium, covering supply and demand dynamics and his outlook for prices in 2024 and beyond. In his view, the market has only reached its third inning, meaning the story is nowhere near over. While investors will need to be more selective, Finegold remains bullish on the uranium spot price and sees uranium stock opportunities too. "You've got the supply side as fragile as it is, and you've got demand really starting to kick into gear over the next decade. And then you can throw (small mod...
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Speaking to the Investing News Network, Piche Resources Executive Chairman John Simpson stressed the need for diversity of supply from much more friendly jurisdictions to ensure security. Citing the company’s promising assets in Australia and Argentina, he said Piche will play an important role in the critical metals supply chain. “We saw both China and Russia politicise or militarise their commodities … I think that's created an enormous awareness (for) the need for diversity of supply from much more friendly jurisdictions (and) ensuring security (of supply),” he said. “Being a company that h...
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