URANIUM PRICE – Record set at over $60 a pound

The spot price of uranium trioxide reached a new high of US$60.25/lb U3O8 on Oct. 30, 2006. This new price represents a 7% jump following the announcement by CAMECO that flooding had closed its Cigar Lake underground development in Saskatchewan. Cameco, headquartered in Saskatoon, is the world's largest uranium producer, with an output of 21.2 million lb U3O8 in 2005.

The outlook for uranium markets is further explored at www.Uranium.info.