Uranium bulls are “as rare as white unicorns” according to a commentary in FNArena in September 2019, and the market is “sick and dying” with uranium “quickly becoming a dinosaur of a commodity”. Canadian company Cameco recently said it cannot see any case for construction of new uranium mines for some years to come. Chief financial officer Grant Isaac said that new mines will not win financial backing without a far stronger recovery in demand for uranium than is currently on the horizon. “It’s pretty hard to say you’re going to take the risk on an asset … that isn’t licensed, isn’t permitted, probably doesn’t have a proven mining method, when you have idle tier one capacity that’s licensed, permitted, sitting there,” Isaac said.
Online Opinion 26th Nov 2019 read more »