FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., July 20, 2022 /PRNewswire/ -- According to Currency.com, in 2021, the price of Uranium reached the highest levels since 2014, driven by numerous external factors. As a key component of nuclear energy, investors continue to bet on increasing demand for uranium as the world looks towards alternative energies. Throughout the year, the uranium spot price rose from around $30 to $42.05 a pound, an increase just shy of 40%.  According to Yellow Cake, a company listed on AIM that provides investors with exposure to uranium: "Primary production has consistently fallen below market demand for uranium over recent years and the primary supply deficit reached a new record in 2020." The supply deficit is predicted to continue, despite speculative interest in uranium driven by a strong nuclear energy push. The article discussed forecasts for 2022, 2025 and 2030. It said: "InvestingNews.com suggests: "Constrained supply in a sector that was already battling headwinds before the pandemic will likely lead to more uranium price upside in 2022." One analyst commenting on the uranium price forecast for 2022 suggested that the ore's price could head up to as high as $200, before a 50% retraction to the $100 mark. Another analyst has a more conservative estimate of $70 per pound.  The 12-month uranium price forecast at Trading Economics is estimated to reach a value of $66.17. Uranium could continue its bullish run, according to Mining.com, partially due to an aggressive buying spree by the Sprott Physical Uranium Trust, which increased its holdings by 10% throughout February 2022 alone."  Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), FISSION URANIUM CORP. (OTCQX: FCUUF) (TSX: FCU), Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), Uranium Energy Corp (NYSE: UEC), Ur-Energy Inc. (NYSE: URG) (TSX:URE).