As followers of uranium would know, there have been plenty of proclamations about an imminent recovery post Fukushima, but they have all turned out to be false dawns. With buyers and sellers trilling from the same song book, is this time different?
Hartley’s latest report on Peninsula Energy (PEN) begins with what seems like an unusually frank admission. It says PEN’s Wyoming uranium projects are not viable at current spot prices. This seems grim until shareholders see that the “Speculative Buy” is based on the fair assumption that the power utilities will not want to take the risk of remaining “uncovered” for too long in case the spot price turns up in the near term.