| Trading in the uranium market is done by a very | | | | your weekly spot uranium price? |
| small number of players. After all, there are about | | | | Jeff Combs: We have a pretty specific definition. |
| 440 nuclear reactors worldwide, a few dozen | | | | What we're looking for is the lowest offer of |
| trading firms, fuel managers, and a relatively small | | | | which we are aware, at around the time we |
| number of utilities who participate in the actual | | | | publish the price. The quantity being offered has |
| buying of uranium. It's the front end of the | | | | to meet certain parameters. It has to be a |
| nuclear fuel cycle. Without it, nuclear reactors shut | | | | certain size transaction within a certain timeframe. |
| down. The uranium price has been skyrocketing | | | | So we're not really trying to cover transactions, |
| since Christmas week 2000, with no end in sight. | | | | per se. Obviously, where there is a transaction |
| Forecasts range from $50/pound to well above | | | | that takes place, there's an offer embodied in |
| $100/pound. Few believe the spot uranium price | | | | that. We're really trying to capture where the |
| will go lower in the near future. | | | | market is going based on current offers, rather |
| It's become a fun game. Every Tuesday night | | | | than where it has been. |
| (Monday afternoon, if you are a subscriber to the | | | | StockInterview: So is your published spot price |
| Ux Consulting), you will see the spot uranium price | | | | more of a predictor than an actual trade? |
| posted on the company's front webpage. | | | | Jeff Combs: It's a predictor only in the sense that |
| Moments later, the Yahoo and other Internet chat | | | | the next deal is likely to be done at the lowest |
| boards light up with commentary about the | | | | offer price if the market is working efficiently. It's |
| current uranium price and where it might head | | | | like in the stock market where the lowest offer |
| next. The spoiler is that TradeTech LLC issues its | | | | price will be taken first, although the stock market |
| spot uranium price on Friday to subscribers and to | | | | is a lot more efficient than the uranium market. |
| the general public on Sunday night. Investors have | | | | Thus, we aren't predicting the price of the next |
| been betting on the price swings of their favorite | | | | deal per se, but reporting the lowest offer price, |
| junior uranium stocks (more leverage, more risk | | | | which is an indication of where the sell side of the |
| reward) by trying to second-guess the uranium | | | | market is at that point in time. |
| spot price. Now, you can find out exactly how Ux | | | | StockInterview: So the weekly published spot |
| C arrives at their weekly spot uranium price, from | | | | uranium price is not based upon an actual sale of |
| the president of Ux C, himself: Jeff Combs. | | | | uranium that took place that past week? |
| StockInterview: How does Ux Consulting arrive at | | | | |