Have you noticed the price of Uranium lately? The price is soaring through the roof, up almost 20% this week.
The price of the metal has broken through the $100 mark, reaching a record $113 a pound. Experts had predicted that it would break through the $100 mark this year.
The rise, prompted by a shortage of the metal and an interest in nuclear energy as an alternative to fossil fuel, has been accompanied by a flurry of activity in the industry as companies scrabble for the scarce resource.
CanAm Uranium Corp (CAUI.OB) was up nearly 5.69% today and closed at $1.30. The Company is well positioned for a strong year, with a planned 2007 drilling program underway.
The surge in price, which takes the value of uranium to its highest level since the 1970s, lends weight to the forecasts of analysts who had earlier predicted that prices could reach $125 a pound this year and $140 a pound in 2008.
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