According to a recent report by Reuters, long-term uranium contract prices have reached a 16-year high due to uncertainties in the supply chain and increased demand from utilities looking to secure fuel for expanding capacity to power AI data centers. Currently, term prices are hovering around US$79 per pound, the highest since 2008, with further price hikes anticipated in the near future.
As of the latest update, the uranium spot price stands at US$82.35, as reported by Business Insider, showing a slight decrease from last week’s price of $83.15.
In other news, Skyharbour Resources (TSXV: SYH) announced a recent agreement with Cosa Resources (TSXV: COSA) to sell two mineral claims spanning 6,049 hectares, representing a portion of its Karin Property in Saskatchewan. Meanwhile, Uranium Royalty (TSX: URC) has acquired an additional royalty on a section of the Churchrock uranium project in New Mexico owned by Laramide Resources, positioning itself for future U.S. uranium production.
Lastly, Standard Uranium (TSXV: STND) has initiated drilling activities at its Sun Dog Uranium Project near Uranium City in northwestern Saskatchewan, targeting shallow high-grade basement-hosted uranium mineralization. Stay tuned for the latest updates in the uranium industry.
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