The recent correction in uranium prices just got a bit more serious.  The results of the last weekly auction yielded $19.25 per pound, down $2.25 cents from a week earlier, or off about 10.5 percent.  This makes the correction from mid March a bit over 20 percent in around 6 weeks.

Such prices are not encouraging for North Pipes (or what's left of those claims), which will need to see prices more than double to be economic.  Speaking for my part, I don't see that happening soon, but anything's possible.

VP