Bullish uranium forecasts emerging

Bullish uranium forecasts emerging. H.C. Wainwright analyst Jeffrey Wright thinks uranium spot prices could rise above $50 per lb in the next twelve months. The reported noted a positive decision regarding the restart of two Japanese nuclear reactors, which could alleviate psychological pressures on the uranium market. Since falling below $40 per lb in 2013, spot prices have been unable to breach the $40 per lb mark until now. The recent recovery in spot prices from a little above $28 per lb earlier this year to more than $40 per lb, is encouraging for US uranium producers. We believe uranium spot prices could rise above $50 per lb in the next twelve months, which could support both sustainable production and exploration activities, said Wright. (VIEW LINK) (Source: Canaccord Sales Note)