IKN

Thy sin’s not accidental

Chart of the day is…

…uranium, two year spot price from this page. Source: The Ux Consulting Company, LLC

Back in late July this humble corner of cyberspace took flak from the momo crowd for daring to suggest that the spike being seen in U was another round of market spec rahrah and that, in fact, the supply situation for uranium wasn’t tight at all. This post explained it all (with pretty charts and everything) and here are the words used to wrap it up:

The bottom line is that there’s seemingly no supply squeeze on the horizon and it doesn’t matter what the market shillers might think. Uranium gets pumped to no result from time to time and this time seems no different, just the reasons (“OMG!!! Chinese Stockpiling!!!”) change. DYODD, dude.

Since then, U has dropped back from U$46.50/lb to this week’s U$45 on the spot market. IKN once again apologizes for failing to buy into the Canadian market bullshit hype….and for being right, too.

DYODD, dudette. DYODD, dude.

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