Record increase in uranium price

Ux Consulting Company, LLC and TradeTech have increased U3O8 prices US$10 to a record US$85 per pound. This US$85 spot price marks a new record for uranium confirming research analysts' predictions that mine production continues to fall short of demand, and that inventories being sold into the market reflect the supply-demand deficit.

As of December 2006, there were 435 reactors currently in operation producing 368,246 Mwe of power. There are 28 reactors under construction, 64 planned and more than 158 have now been proposed globally with more added every month.

"Uranium is in a super bull cycle, fueled by supply shortfalls amid rising demand as the world increasingly turns to nuclear for clean, commercially viable, long term energy solutions. Today's increase in the spot price is a reflection of the uranium shortfall and provides investors with added confidence in the uranium sector," says Mr. Gomez, President of U3O8 Media.

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