Uranium
Paladin Energy* (PDN : TSX : $3.69), Net Change: -0.04, % Change: -1.07%, Volume: 384,817
Hathor Exploration* (HAT : TSX-V : $1.99), Net Change: 0.02, % Change: 1.02%, Volume: 208,134
Ur-Energy* (URE : TSX : $0.86), Net Change: -0.01, % Change: -1.15%, Volume: 81,960
Uranium One* (UUU : TSX : $2.80), Net Change: 0.09, % Change: 3.32%, Volume: 5,742,909
Tip of the silo? The spot price of uranium continued upward for the third week in a row, according to Ux Consulting. With the
price of spot uranium having reached a bottom, demand has picked up as expected. Canaccord Adams short- to medium-term
outlook continues to favour increasing demand and higher prices on the back of a global nuclear energy renaissance. The Wall
Street Journal put out a report Tuesday titled, “Uranium Draws Interest From China,” highlighting, “Nuclear-power-generation
capacity in China is set to increase sixfold by 2020 to 60 gigawatts with a further increase of up to 160 gigawatts expected by
2030, according to the World Nuclear Association. China is already ramping up uranium imports, recognizing that domestic
supplies are insufficient to meet its needs. In January, China shipped in around 3,337 metric tons of uranium, with 57% coming
from Kazakhstan and smaller volumes from Russia, Namibia and Uzbekistan. Import volumes were up more than 10 times year-
to-year. Comments from Chinese executives suggest this may be the tip of the iceberg. Guangdong Nuclear Power's annual
uranium needs will jump to 10,000 tonnes in 2020 from 2,000 tons in 2009, Zhou Zhenxing, chairman of the company's
uranium-supply unit, said in November.” The Journal also highlighted, “China isn't the only Asian buyer vying for new sources
of uranium – Japan, India and South Korea are also keen to lock in supply. But China's access to cheap capital gives it a
competitive advantage.” Canaccord Adams top picks in the uranium sector are: Paladin Energy, Hathor Exploration, Ur-Energy
and Uranium One.