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Mining Summit-Cameco CEO sees uranium supply crunch,M&A

May 18, 2009

Analysis of:Mining Summit-Cameco CEO sees uranium supply crunch,M&A | www.reuters.com

Cameco is the world's largest and lowest cost uranium producer. The uranium market is very opaque and it is important for the market to know what Cameco has to say about the demand/supply of uranium. The financial crunch has definitely created opportunities for large companies in the M&A front. This talks about Cameco wanting to do an acquisition which is very important for the junior uranium companies. This also talks about the HEU agreement between Russia and the US which will expire in 2013 after which the supply will drop by about 30-40%. This could lead to a big increase in the uranium price.

Rio Tinto economist sees rough year ahead ^ www.reuters.com (view article)

May 18, 2009

Analysis of:Rio Tinto economist sees rough year ahead | www.reuters.com

Rio Tinto is one of the leaders in mining. They are very close to the Chinese market and their views have a higher probability to be correct. This also validates the fact that China is slowing down. China consumes over 30% of the commodities and the outlook for base metals are not very strong for 2009. This however give us some hope that economy will start improving in 2010.

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