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Sunday, April 15, 2007

Sounds Pretty Darned Bullish for Uranium

This isn't unexpected, but final Q1 production numbers for Australia's Ranger Mine are in, and that flood sank their output ...

Energy Resources Says Uranium Output Declines 28%

April 16 (Bloomberg) -- Energy Resources of Australia Ltd., which produces more than a 10th of the world's uranium supply, said production of the fuel fell 28 percent in the first quarter from a year ago, due to heavy rain.

Output dropped to 1,006 tons for the three months ended March 31, Darwin-based Energy Resources said today in a statement to the Australian Stock Exchange. The company maintained its April 2 forecast that production will fall next year as high water levels restrict access into 2008.

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