Issue link: http://resourceworld.uberflip.com/i/318453
14 www.resourceworld.com j u n e / j u l y 2 0 1 4 A uranium oversupply and global, post-Fukushima fears concerning nuclear reactors has continued to put a downward pressure on the price of uranium. When Japan's reactors were shut down, after the Fukushima catastrophe, the country's delayed uranium deliveries ended up in the market depressing prices even fur- ther. Adding to the pressure was a decrease in demand by other countries, including Germany and Switzerland. Today, uranium prices continue to fall despite predictions that a growing demand will soon outstrip supply as decommis- sioned reactors are brought back on line and new reactors are commissioned, par- ticularly in China. Prices have been in steady decline since they rose briefly to US $35.75 lb in early February. The first week of May saw uranium prices sink to US $29 per pound, a low that has not been seen since June of 2005. But analysts still remain optimistic about the future of uranium prices. In late February, the Japanese government announced its final-draft energy plan. Japan will restart at least some of its reactors. Japan has been spending an enor- mous amount of money importing fossil fuels to meet its energy requirements. Uranium exploration and development continue in anticipation of an imminent increase in uranium demand and prices. It's a good time to review companies active in the uranium sector. Aldrin Resource Corp. [ALN-TSXV] began drilling on its Triple M property in northern Saskatchewan in March 2014. The 4,000-metre drill program is testing "coincident geological, structural, grav- ity, basement conductor, magnetic and radon anomalies." The geological trends are parallel to Fission's high-grade uranium discovery on their adjacent Patterson Lake South property (PLS). Alpha Exploration Inc. [AEX-TSXV] is exploring two uranium properties in the Athabasca Basin: the Cluff Lake property which consists of three different projects: Bridle Lake (50/50 JV with Rio Tinto), Gorilla Lake (80% Alpha, 20% Logan Resources) and Middle Lake (80% Alpha, 20% ACME Resources) and Alpha's 100%-owned Hook Lake property located in the southwestern part of the Athabasca Basin. Alpha is also exploring the URANIUM ROUNdUp by Kathrine Moore Drilling off the ice on Patterson Lake at Fission Uranium's PLS property in the Athabasca Basin, northern Saskatchewan. Photo courtesy Fission Uranium Corp.