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They indicate there is no reason for the recent tripling of uranium prices other than speculation.
The speculation is:
What has happened is that investors and mining companies are speculating on a nuclear power boom that they think will shortly begin due to the widespread concern, even fear, generated by the study of global warming, which holds that:
It has been proven scientifically that the earth’s climate is entering a period of rapidly escalating global warming;
It has been accepted that if this global warming has been caused by anthropogenic (i.e., man made) activity, and the IPPC is 90% certain that this is scientifically proven, then the primary bad actor is the carbon dioxide naturally formed by the burning of coal, oil and natural gas to produce electric power and vehicular propulsion, and;
If the burning of coal, oil and natural gas for these purposes is not eliminated, or, at least, substantially curtailed (or, if it is held at present levels and all the carbon dioxide generated by stationary power plants is somehow “sequestered,” i.e. stored) then the global economy will suffer irreparable damage as the climate shifts permanently causing massive changes in the habitability and agricultural usefulness of the earth’s surface, and therefore coal, oil and natural gas must be replaced as sources of heat as soon as possible.
Thorium Power, Inc. has told me that they already have the technology to “switch over” from uranium to thorium more than 60% of the reactors in use today in the world.
They said that a switched over or built from the ground up thorium powered reactor has for the “blanket” a total of three times the life of a uranium powered reactor. This would mean that the savings during the first fuel cycles will pay for the changeover in the case of a “retrofit.” The core can be used to burn fissionable grade plutonium to non weapons grade material while the blanket will be made from thorium and uranium-233, not 238, so that no weapons grade plutonium-239 can be produced in the reactor.