October has been an eventful month for the uranium spot price. After trading in a very narrow range through the majority of the month, the market recently moved higher, with TradeTech reporting spot at $92.50/lb as of 28 October. This was a notable step up from UxC’s $89.85/lb, at the time of our quarterly operating update on 26 October. The move is a reminder of how quickly sentiment can shift, and it caps what had otherwise been a period of unusual calm. Beneath the calm of the spot price, however, a great deal had been going on.
Through our physical holding of uranium oxide concentrate (U3O8) and uranium-related commercial activities, we create an opportunity to realise value from long-term exposure to the uranium spot price in a low-risk, low-cost, liquid and publicly quoted vehicle.
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Our strategy is to buy and hold physical U3O8, providing investors with liquid exposure to the resurgent uranium price.
