11/25/2014 - 11:34 AM EST - 92 Resources Corp. : updated shareholders on its Mitchell Lake Uranium Project in southeastern Athabasca Basin, Saskatchewan, and provide management commentary on the recent developments in the uranium sector. Two weeks ago the uranium commodity sector rallied when Japan granted approval to Kyushu Electric Power Co. to restart two reactors early next year: a strong signal that Japan sees reliance on coal and natural gas as unsustainable and that it must recommit to nuclear power. As a result, the spot price crossed the $40.00/lb threshold, what many industry insiders view as the tipping point of a bull market in uranium, driven by true 'supply and demand' fundamentals. The last run in the commodity saw the spot price peak at $135/lb in 2007. Since 2007, the number of reactors globally has grown from 785 to 965, while 71 new plants are now under construction. 92 Resources Corp.
shares V.NTY are trading unchanged at $0.05.
