Streetbeat News

MMTLF

Madison Metals Inc

Open

0.14

Mkt cap

3.8M

Volume

3.3K

High

0.14

P/E Ratio

-1.37

52-wk high

0.48

Low

0.14

Div yield

N/A

52-wk low

0.09

The U.S. Senate approved a ban on Russian enriched uranium, aiming to reduce reliance on Russian nuclear fuel and boost North American uranium miners. President Biden is expected to sign the bill, which could lead to higher uranium prices and increased domestic production. Cameco Corp. (CCJ) and other miners like NexGen Energy Ltd. (NXE) and Madison Metals Inc. (MMTLF) view this as positive for the industry. Utilities like Constellation Energy Corp. (CEG) and Duke Energy Corp. (DUK) have prepared by securing diverse uranium supplies. The ban, effective 90 days post-law enactment, includes waivers until 2028 for certain situations.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 7:54 pm

Madison Metals CEO Duane Parnham highlights the strong support for uranium prices due to increased global demand for nuclear power amid climate change concerns and a shift towards net zero emissions. With 60 reactors under construction and 110 planned, the demand for uranium is expected to rise significantly, contrasting with the past decade's slump in uranium prices and mine development. The Sprott Physical Uranium Trust has notably impacted the market by amassing a large amount of uranium, contributing to price volatility. Recent M&A activity in the uranium sector is driven by the higher uranium prices, indicating a bullish outlook for the industry.

Portfolio Pulse from Matt Whittaker

April 23, 2024 | 2:10 pm

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