As detailed by industry consultant TradeTech, the U308 exchange price ended July at US$86.50/lb, a rise of US$1.25/lb from June 30. The consultants validate this supposition, stating there has been a “slow but steady increase in term uranium requests”, with utilities looking at potential long-term commitments. Shaw has a Buy rating, as does Canaccord Genuity, with a $2.55 target price. EPS forecasts are downgraded and the target price cut by -81% to 25c. While financing, execution and uranium market risks remain, Morgans believes the market is underappreciating the value of a development-ready uranium asset with significant leverage to improving industry fundamentals.