The effect on other miners and companies with exposure to uranium is likely to be salutary though. This is unhelpful at a time when the company is contemplating issuing more shares to raise new funds.
#Kap stock uranium driver
It might well have added that Kazatomprom itself was the primary driver of that oversupply, and that the consequent prevailing US$25 per pound price is now putting a certain amount of pressure on its own margins. “The decision to extend production curtailment reflects the fact that the uranium market is still recovering from a period of oversupply,” Kazatomprom said in a statement issued to the London Stock Exchange. The move marks a further demonstration on Kazatomprom’s new approach to production, dubbed “value over-volume”, in which the company is finally jettisoning its Soviet-style output targets for a more considered approach to pricing and supply. Put another way, up to 14 million pounds U3O8 will now be removed from supply, which should put the market a further 8% into deficit by 2021. That extends the timeframe of its previous production curtailment by a further year, and means that overall output is likely to average 59mln pounds of U3O8 per year, including joint ventures. Kazatomprom (LON:KAP), the world’s largest uranium producer, has said that it will continue to “flex down” production from its Kazakh mines by around 20% through to 2021. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.
#Kap stock uranium software
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