Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Saturday, May 05, 2007

Uranium Futures and the Potential for $500 Per Pound

The story reads ...

Resourcex Dispatches: Uranium Stocks Rally Ahead Of NYMEX Futures Trading

Prices could hit $500 a pound in the blink of an eye Uranium company stocks rallied this week in advance of the off exchange uranium futures trading on the New York Mercantile Exchange (NYMEX) slated to begin next week

Read the rest by CLICKING HERE.

Facts on NYMEX futures trading:

o U3O8 (yellowcake) is concentrated uranium oxide produced from uranium ore and is the most actively traded uranium-related commodity. Its primary use is as fuel for nuclear reactors.

o NYMEX UxC Uranium U3O8 futures will be launched at 6:00 pm May 6, 2007 (Sunday) for the trade date of May 7, 2007 (Monday).

o Contract symbol will be UX

o Contract size is 250 pounds of uranium U3O8 (currently spot price: $113/lb.)

o Minimum tick size is five cents

o It will be a financially settled contract with each month settling on the corresponding spot month-end U3O8 price published by The Ux Consulting Company.

o Trading hours are 6:00 PM through 5:15 PM, New York time, Sunday thru Friday, with a 45-minute break each day between 5:15 PM and 6:00 PM.

o Initially, 36 consecutive months will be listed. The first listed month will be June 2007


Check out my new gold and energy blog at