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The following interview with Alex Molyneux, Chairman of Toronto main-board listed Azarga Uranium (AZZ.to) / (PWURF) was conducted in the final week of December, 2014. Alex is a leading uranium expert and has been featured in videos online such as on Bloomberg News as well as in numerous online articles. Importantly, with today's big news of Energy Fuels (UUUU) merging with Uranerz, (URZ), M&A in the uranium sector could become a much larger focus in 2015. Azarga Uranium has a balance sheet and market cap that's big enough to make tuck-in acquisitions of smaller uranium producers or be taken out itself by much larger market cap companies such as Uranium Energy Corp (UEC) or UR-Energy (URG). In fact, in reading the press release regarding the Energy Fuels and Uranerz deal, it stated that further acquisition by the combined company are likely. [This statement was in bold-faced font in the press release]. 

We saw a dramatic move higher in the spot uranium price to $44/lb, up from $28/lb, however the price has retraced to about $36/lb. Do you have a view on the spot price next year?

The real trade is still ending the year on a much stronger footing than how it started 2014. The discussions with nuclear fuel buyers at utilities are much more focused around purchasing at this time. I think what's happening is that financial investors are selling in a rather quiet December spot market because they're seeing oil fall out of bed. The reality though is that nothing has changed for uranium and it doesn't really have any meaningful substitution with oil in the energy mix. Almost regardless of where oil gets too, nuclear is still cheaper and its certainly radically cleaner and more reliable. Azarga's forecast is for uranium to trade in the US$45-55/lb range through most of 2015.