Long-Term Uranium Prices for the First Time Since January 2011 - Cameco and Uranium One Look to Benefit

The Paragon Report Provides Stock Research on Cameco and Uranium One

NEW YORK, NY -- (Marketwire) -- 05/31/12 -- The Uranium Industry after a tough 2011 has begun to rebound. According to numbers released by the World Nuclear Association there are 61 reactors that are presently under construction, and plans to build another 162. Long-term Uranium prices have finally shown signs of movement since the Fukushima disaster. The Paragon Report examines investing opportunities in the Uranium Industry and provides equity research on Cameco Corporation (NYSE: CCJ) (TSX: CCO) and Uranium One, Inc. (TSX: UUU).


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According to Ux Consulting, long-term uranium prices increased 2.5 percent from $60.00 to $61.50 a pound. This is the first time the term price has rose since January 2011. Rob Chang, analyst at Versant Partners, suggested that the reason behind the uptick was a result of the Japanese town of Ohi's recent approval to restart two nuclear reactors. The local government voted 11-1 in favor of restarting the reactors. "Many view the restart of some of Japan's 50 idled nuclear reactors as a major positive catalyst for uranium," he wrote in a note.

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Cameco Corporation is engaged in the exploration for and the development, mining, refining, conversion and fabrication of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. "Our uranium business continues to drive our strong financial performance," said Tim Gitzel, president and CEO. "This quarter, our sales volumes were up 33%, and although spot and long-term uranium prices were lower relative to a year ago, our average realized price increased."

Uranium One is one of the world's largest publicly traded uranium producers with a globally diversified portfolio of assets located in Kazakhstan, the United States, Australia and Tanzania. The company recently reported quarterly revenue of $95.9 million for Q1 2012 based on sales of 1.8 million pounds at an average realized sales price of $53 per pound at an average total cash cost per pound sold of $14.

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