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Benzinga·Apr 23

EXCLUSIVE: Why This Uranium Bull Market Is Different — 'We've Really Got To Start Developing Mines,' Says Madison Metals CEO

Uranium prices have more support now than they did when the nuclear fuel hit its all-time high in 2007, according to the chief executive of uranium explorer Madison Metals Inc. (OTC:MMTLF). Back then, when uranium reached a record high above $130 per pound, physical supply was tight because of flooding at two major mines, falling recoveries from old nuclear warheads, expectations of a nuclear renaissance and the launch of uranium futures in New York. But the high price proved to be a bubble, quickly falling as end users stopped buying and financial services companies sold the metal. Later, in 2011, a disaster at a Japanese nuclear reactor sent the uranium market into a deep slump for years as nations shut down nuclear reactors. The underlying fundamentals are "dramatically different" now, CEO Duane Parnham told Benzinga. Also Read: Uranium Execs Talk High Prices, Tout Projects As Long Downturn Comes To An End: ‘The US Government Will Be Buying’ The tables have indeed turned. Around 60 reactors are under construction around the world, and an additional 110 are planned, according to the World Nuclear Association. That's in sharp contrast to the 65 reactors that, according to the ...Full story available on Benzinga.com