Resource Capital Research [RCR] - Equity research report - Global uranium companies (March Quarter 2010 )
Resource Capital Research (“RCR”), an equity research company which focuses on small and mid size resource companies, today launched its major quarterly research report covering 16 global uranium exploration and development companies.
The quarterly report typically reviews companies listed in Australia, Canada, USA and UK and active in established uranium districts globally, including Australia, Canada, USA, Argentina, Peru, Mongolia, Zambia, Tanzania, Niger and Namibia.
KEY POINTS
Uranium Market:
• The uranium spot price is currently trading at US$41.25/lb, down 8% from 3 months ago (US$45.00/lb).
• The Fund Implied Price (FIP) is US$42.50/lb, which compares with US$41.40/lb at year end December ‘08. The FIP has generally been a good leading indicator of near term spot price performance.
• Since August 2009 the FIP has been reasonably stable, trading in a range of ~US$40/lb to ~US$49/lb.
• Timing of demand from long term Chinese inventory build remains a factor with potential to influence short term market trends.
• The long term contract uranium price is US$60.00/lb. It is down from US$70/lb December 2008, though has been relatively stable, compared with the more thinly traded spot market price.
• There are 469 new nuclear reactors planned or proposed globally as of Feb ’10, up from 376 (+93 units, +25%) Dec ‘08.
• Currently there are 436 nuclear power reactors in operation and 53 under construction.
Uranium Companies:
• The Merrill Lynch Uranium Equity Index (a basket of uranium equities) is up 8% over the past month, up 4% over 3 months and up 24% over the past 12 months.
• The market valuation of Australian companies with one or more uranium projects is up 6% over the past month, up 8% over the past 3 months, and up 173% over the past 12 months.
• This compares with Canadian companies with one or more uranium projects, up 6% over the past month, up 16% over the past 3 months, and up 136% over the past 12 months.
Resource Capital Research (“RCR”), an equity research company which focuses on small and mid size resource companies, today launched its major quarterly research report covering 16 global uranium exploration and development companies.
The quarterly report typically reviews companies listed in Australia, Canada, USA and UK and active in established uranium districts globally, including Australia, Canada, USA, Argentina, Peru, Mongolia, Zambia, Tanzania, Niger and Namibia.
KEY POINTS
Uranium Market:
• The uranium spot price is currently trading at US$41.25/lb, down 8% from 3 months ago (US$45.00/lb).
• The Fund Implied Price (FIP) is US$42.50/lb, which compares with US$41.40/lb at year end December ‘08. The FIP has generally been a good leading indicator of near term spot price performance.
• Since August 2009 the FIP has been reasonably stable, trading in a range of ~US$40/lb to ~US$49/lb.
• Timing of demand from long term Chinese inventory build remains a factor with potential to influence short term market trends.
• The long term contract uranium price is US$60.00/lb. It is down from US$70/lb December 2008, though has been relatively stable, compared with the more thinly traded spot market price.
• There are 469 new nuclear reactors planned or proposed globally as of Feb ’10, up from 376 (+93 units, +25%) Dec ‘08.
• Currently there are 436 nuclear power reactors in operation and 53 under construction.
Uranium Companies:
• The Merrill Lynch Uranium Equity Index (a basket of uranium equities) is up 8% over the past month, up 4% over 3 months and up 24% over the past 12 months.
• The market valuation of Australian companies with one or more uranium projects is up 6% over the past month, up 8% over the past 3 months, and up 173% over the past 12 months.
• This compares with Canadian companies with one or more uranium projects, up 6% over the past month, up 16% over the past 3 months, and up 136% over the past 12 months.
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