The uranium price can only go one way, up.

So says Boss Energy boss Duncan Craib to the crowd at the annual Diggers & Dealers conference in Kalgoorlie, Western Australia. 

The CEO of Boss Energy says the current spot price of Uranium can’t stay where it is for long, with so much pent-up global demand. 

“There is no doubt in my mind that the price is going to overshoot in response to this currently forecast supply deficit,” Craib said.

“Demand is growing and mobile inventories are now significantly lower than they were in the early 2000s,” he says. “Inventories held by utilities are also reaching all-time lows.”

“Those inventory levels need to be replenished. The tide has turned.”

“It incentive price used to be US$60/lb, now it is US$80/lb. The spot price is currently US$56/lb, so the price can only go one way,” Craib says.

“It has to go up.”

Boss Energy is quickly advancing its South Australian ‘Honeymoon’ uranium project.