Kazakh Unrest and Uranium Prices

Unrest in Kazakhstan has seen shares in Kazataprom fall 8% overnight. The Uranium (front contract) price spiked 9%. Equity prices of uranium producers/explorers also jumped before settling below their intraday highs.

“Kazatomprom is the world’s largest producer and seller of natural uranium, providing over 40% of global primary uranium supply.”

As per chart below, I’m watching it makes a new ‘lower low’ below the recent low of US$33.35.

If so, Kazatomprom will be a better buy around the US$28 mark.

December 6, 2021

by Rob Zdravevski

rob@karriasset.com.au