The Uranium Price is Not Real – CEO

The uranium spot price is thinly traded and probably manipulated and does not reflect the true intrinsic value of uranium, said Mike Young CEO of Vimy Resources (ASX: VMY).
“[Uranium prices] are not the real reflection of the sales going on around the world. Most uranium is sold between the producer and the utility in a private contract, and that’s never reported,” Young told Kitco News on the sidelines of the Noosa Mining & Exploration Investment Conference.
Young said that the real, or fair value of uranium should be determined by actual private contract prices, which should be much higher.
“No contracts have been written right now. So there’s this sort of no-man zone or hiatus of contracting, and what that means is that at some point when utilities start to come back in to write contracts, I think those are going to be in the $50s and $60s [a pound],” he said. (show less)

The uranium spot price is thinly traded and probably manipulated and does not reflect the true intrinsic value of uranium, said Mike Young CEO of Vimy Resources (ASX: VMY).
“[Uranium prices] are not the real reflection of the sales going on around the world. Most uranium is sold between the producer and the utility in a private contract, and that’s never reported,” Young told Kitco News on the sidelines of the Noosa Mining & Exploration Investment ... (read more)

Noosa Mining Investor Conference

Noosa Mining Investor Conference
This valuable and informative investor conference will be held for an eighth year at Peppers Noosa Resort from 12:30pm on Wednesday 18th July to Friday 20th July 2018. The conference will feature listed resource companies showcasing and selling their investment credentials via an exhibition and formal presentations. Designed for resource investors, brokers and fund managers to better understand current investment opportunities in the mining, energy and exploration sectors, the conference brings senior company executives and investors together in a relaxed yet sophisticated setting.

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