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Cantor increases uranium spot price target to as high as $150

Following guidance reductions from uranium mining major Kazatomprom, at least one analyst is calling for continued momentum in the price of uranium.

Cantor Fitzgerald Friday issued a uranium macro update, increasing its uranium price forecast. Previously set at $90 – $120 per pound of U3O8, the firm is now calling for prices to be in the range of $120 – $150 per pound, with this range estimated to hold through 2028 and beyond.

“Given the KAP news, the supply/demand picture has fundamentally changed in a definitively more bullish direction for uranium spot and term pricing. We are raising our uranium price forecast curve to $120-150/lb U3O8 (2024-2028+) from $90-120/lb U3O8, previously. This price forecast has considerable bias to the upside,” reads the note.

You can read more on the matter here.

What’s going on?

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• Real estate commission lawsuit expands across Canada (BNN)

• Czech Republic Wants More Nuclear Power, Expands Tender To Up To Four New Blocks (theDeepDive)

• Hamas proposes 135-day Gaza truce with complete Israeli withdrawal (Reuters)

• Weekly mortgage demand from homebuyers is flattening as interest rates rise (CNBC)

• US seeks to crack down on real estate money laundering in planned rule (Reuters)

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• Apple Vision Pro Is Already Causing Problems In The Wild (theDeepDive)

• Canada’s housing target falls 1.5 million units short, CIBC says (BNN)

• Egypt's President Sisi raises minimum wage by 50% to 6,000 pounds (Reuters)

What’s the latest?

• Canada’s Trade Deficit: Canada experienced its first monthly trade deficit since July, posting a $312 million deficit in December due to increased imports of pharmaceutical products and a stronger Canadian dollar. This shift contrasts with the $1.1 billion surplus seen in November and defied economists' expectations of a $1 billion surplus for December.

• US Trade Deficit: The U.S. trade deficit slightly widened in December but experienced its most significant annual contraction in 14 years during 2023, driven by decreased imports and increased exports. The overall trade gap narrowed by 18.7% to $773.4 billion, significantly contributing to the economy's growth.

• Real Estate Class Action: A class action lawsuit now encompassing all of Canada alleges that the real estate brokerage industry has been inflating commission fees through a practice known as the “buyer brokerage commission rule,” which is claimed to violate competition laws. The lawsuit, which has expanded from an initial case against the Toronto Regional Real Estate Board, implicates various regional real estate boards, franchisors, and brokerages.

• Money Laundering: The U.S. Treasury Department's Financial Crimes Enforcement Network has unveiled a proposal aimed at combating money laundering in the residential real estate sector. This initiative will mandate real estate professionals to report suspicious activities, particularly focusing on cash transactions. This move seeks to address a longstanding loophole that allowed illicit funds to be laundered through cash purchases of homes. Treasury Secretary Janet Yellen estimated $2.3 billion was laundered through U.S. real estate from 2015 to 2020.

• Overpass Crash Lawsuit: Chohan Freight Forwarders is suing B.C.'s Ministry of Transportation to overturn a suspension linked to six overpass crashes over two years. The suspension, initiated on December 28 by the Commercial Vehicle Safety and Enforcement (CVSE) branch, has allegedly resulted in significant financial losses for the company, exceeding $1 million a week. The company claims it's in a state of limbo without a formal notice of cancellation, which would allow them to appeal.

The rise and fall of F45

The stock market and stuff

• Snap Shares Snap By 30% Following Q4 2023 Financials (theDeepDive)

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• Brookfield Asset Management Ltd. reports US$95M Q4 profit, raises dividend (BNN)

• GM to spend $19 billion through 2035 to source EV battery materials from LG Chem (CNBC)

• Hut 8 Replaces CEO With Co-Founder Of US Bitcoin Corp (theDeepDive)

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In the juniors

• GSP Resource Jumps 47% After Hitting 2.42% Copper Over 12.8 Metres (theDeepDive)

• Patriot Battery Metals Expands CV5 Strike Length To 4.4 Kilometres (theDeepDive)

• Market Movers: Pampa Metals Jumps As Much As 85% Over Core Photos Of An Unfinished Drill Hole (theDeepDive)

• ATHA Energy Secures Shareholder Approval For Major Merger, Awaits Approval From Latitude Uranium And 92 Energy (theDeepDive)

• Troy Minerals Says No Material Change, Issues Drill Results Half Hour Later (theDeepDive)

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