Nick Wells, Uranium Investing News, discusses uranium in 2014 and gets views from uranium company CEO’s, including Ted O’Connor, Azincourt Uranium.
The uranium market spent 2014 mired in disappointment and underperformance, but the year looks set to finish on a strong note amidst optimism that the industry could be on the verge of a significant rise.
In the past six months, the spot price of uranium has risen 50 percent, while interest in long-term prices has also risen. During that time, news surfaced that two nuclear reactors in the Sendai district will be restarted in 2015, and that has further stoked interest in the market.
On the company side, Azincourt zeroed in on a fertile uranium system on its Patterson Lake North project and also acquired Minergia, a Peruvian company, for $2 million from Cameco (TSX:CCO,NYSE:CCJ) and Vena Resources (TSX:VEM). Azincourt then vended that project to Macusani Yellowcake (TSXV:YEL), further broadening the company’s scope.
As the industry heads into the new year, the expectation is that times will be brighter as increased interest from utilities companies continues to drive the market.