https://media-exp1.licdn.com/dms/document/D4E1FAQFg3RlvLOgOLQ/feedshare-document-pdf-analyzed/0/1665572691377?e=1666828800&v=beta&t=wpVwi-nWmKtemTeOM4vu3jCUH9q-L9GtpEGA035ff44

One view for short-term price upside is due to anticipation that utilities will become more active in the market towards the end of the year. Our conversations with those in the industry have concluded that Q4’22 should be an aggressive quarter of term contracting from utilities, driving total contracted term volumes to and possibly beyond 100m lbs for the year.

Others anticipate that the current broader market environment will soften and see SPUT
return to the market for a strong end to the year. With broader market headwinds calming, SPUT can rejuvenate what has been a comparatively quiet year in uranium purchasing. Both of these outcomes would add further pressure to prices.