The next potential squeeze on uranium supply could come from terrorism, not nature.

Denison Mines has a monopoly on conventional U.S. uranium mining as a result of owning the only operating uranium mill in the United States. Until uranium ore is milled, it has no value and is a liability to store.

From Governor Bill Richardson on down, state legislators and the administration suddenly became aware of the valuable resource their state was sitting on. At today's value, the uranium resource of approximately 600 million pounds is worth more than $54 billion.

Our Audio Interview with Uranerz Energy chief executive Glenn Catchpole revealed his company plans a prefeasibility study on two properties this summer, saying, "The hydrological environment is favorable and the grade of the ore and the thickness of the ore is such that it can support a profitable mining operation." Catchpole expects to be mining uranium by late 2010; in full production by 2012.

Synatom's Fuel Supply manager Gerard Pauluis said, "As the market matures, we will experience uncontrollable price spikes." Urenco senior executive Maurice Lenders argues, "Suppliers and customers must be open about what they have and what they need so that supply will be available to meet demand."

Until the previous uranium cycle ended in the 1980s, Juniper Ridge had reportedly been the site of 12 small open-pit uranium mines. Many in the industry had called it the 'best uranium discovery in southern Wyoming.'

Permitting a uranium mine requires more than a simple application to mine. And, as we discovered, the process can take between three and six years (sometimes even longer), costing several million dollars and requiring numerous scientific studies on a company's property. This could add additional pressure to uranium prices.

Bids are due in Corpus Christi, Texas on April 3rd for the sealed-bid auction, conducted by Mestena Uranium LLC, for another modest lot of 100 thousand pounds of U3O8. "Buyers are once again expected to compete aggressively for the material," Nuclear Market Review (NMR) editor Treva Klingbiel wrote in the monthly edition of the nuclear industry trade magazine. "Any material offered at fixed price is highly sought after by potential buyers."

Last year's basic series on In Situ Recovery uranium mining became a major success with many investors, who finally got an inside look at how uranium mining takes place. Part two of this six-part series provides a deeper understanding into the In Situ Recovery (ISR) uranium mining method. This part discusses satellite plants used for uranium processing. They are smaller, mobile and reduce capital and operating costs.