#uranium spot market doesn't really look that thin to me. 4.9M lbs traded in November, which is ~1/3 of reactor demand on an annualized basis, as I understand it. Spot price still matters.
With minimal inventories, 3+ years of large deficits, and highly inelastic demand, what are the constraints of the #uranium spot price (what supply/demand factors stop the price from moving ever higher)?
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Novice question here for the #uranium experts: My assumption here is a tiny company like this was able to acquire these properties because others didn't want it, and that historical estimates don't translate well to proven reserves (or at extremely low grade). Am I off?
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