Lethbridge, AB T1K
7H7
Phone: (403) 328-1804
Thursday, September 09, 2010
Letters Editor, Financial Post
300 - 1450 Don Mills Road
Don Mills
Ontario, M3B 3R5
Re: BHP scouts Saskatchewan’s uranium (Thursday, September 9, FP11)
Dear Editor,
I can believe that uranium would be worth more than the price of gold if all of the energy available from it was utilized.
Still, Marin Katusa’s gushing enthusiasm puzzles me. He states; “In fact, uranium on a per-tonne basis is worth more than gold if you’re in the Athabasca Basin. Given current uranium spot prices, it can fetch a staggering US$13,500 per tonne. That’s unheard of!”
My calculator tells me that, at the current spot price of uranium of $45/lb (was $136 in June of 2007), it is selling for about $100,000 per tonne. Gold, at $1256 per ounce, is going for more like $45,000,000 per tonne.
Granted, Mr Katusa’s Casey Website bio indicates; “Using advanced mathematical skills, he has created a diagnostic resource market tool that analyzes and compares hundreds of investment variables”
Maybe the FP could get him to clarify his line of thought on uranium.
Yours truly,
Duane Pendergast