Trust a reader with a long memory to weigh in with thoughts on today’s “high” uranium price. John Pursel of Wasaga Beach, Ont., wrote:
“When I worked at Denison in Elliot Lake in 1959 and 1960, the product price was US$10 per pound. In adjusted dollars that is equivalent to US$62, which is not far off the current spot price of US$72.”
He added that had the owners of the Elliot Lake mines kept them on care and maintenance rather than allowing them to flood, they might be able to take advantage of today’s high prices. As things stand now, the mine water is a cocktail of acid, nitrates and radioactivity, by implication making the mines impractical to dewater.