Prospector News Publisher Michael Fox runs into longtime friend Scott Melbye President of the Uranium Producers of America at the Recent New Orleans Investment Conference. We discuss the factors that have been affecting uranium pricing upwards this past Summer. Scott notes that Sprott Uranium Trust has been quiet this Summer as the price has steadily risen and that Utilities have been responsible for the price rising. A Bullish signal for certain. Scott notes that this may bring some North American production back online again in the coming months and years.
The US still is moving to bring processing of uranium back onshore and once completed may see sanctions on Russian processed product. Given the East/West divide on nuclear energy this should also put a bid on North American producers.
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