2008 Uranium Forecasts Remain Bullish

Resource Capital Research of Sydney says forward indicators suggest the price will range between $90 and $100 per pound for several months, then accelerate to $125 by September 2008.

"Uranium fund sentiment and activity remain important factors in the outlook for the spot uranium price," a Resource Capital Research report indicates.


"China has announced 116 planned and proposed new nuclear power reactors, up from 63 in Jan. '07 (an increase of 84 percent), and the USA is up from 23 in Jan.'07 to 32 units (up 39 percent)," according to the report.

As of December 24, the price for a pound of U308 was at $90, up from $85 three months ago. The price peaked six months ago at $138.