Skyharbour Resources Ltd (SYHBF)

[Akula42]

Why Uranium spiked today

Cameco’s announcement to shut down the McArthur River mine, is big catalyst for the uranium sector.  This is the world’s largest operating uranium mine, ~10% global production, coming offline.  Much bigger news than when Cameco’s Cigar Lake mine flooded in 2006 (at the time that was development stage) but that was the beginning of a major uranium rally.  No mine on the planet can make money at $20/lb. uranium, and this announcement is the ultimate validation of this point.  The McArthur River Mine and Key Lake Mill complex are collectively the world’s largest uranium operation and a shutdown of this magnitude cannot be over-emphasized.

The impact on spot uranium prices was volatile today and immediate today.

Also, Westinghouse has just announced that they they have reached a deal to sell six AP-1000 reactors to China. 

Note that the offer price on UxC BA is now over $23.00 USD.

Should be interesting tomorrow. and over the next few days.

$SYHBF