Uranium: going to US$240/lb?

Uranium going to US$240/lb?
The uranium market has been in an uptrend for the past six years. In the past 12 months, uranium has outperformed all other metals (except nickel), rising by 100% to US$75/lb. How much higher can it go?
A Canaccord Adams report published this week says uranium can rise to US$240/lb and still produce electricity for the same cost as a coal-fired power station at around US$63/MWhr.

Canaccord Adams’ peak price forecast of US$103/lb in 2009 is based on the assessment of the current supply and demand fundamentals in the market, which includes the likelihood of delays to major projects such as Cigar Lake and Olympic Dam.

With issues such as Global Warming being taken seriously by many governments as well as industry, nuclear power is being increasingly considered to offer an essential part of the solution in meeting rising electricity demand as well as addressing the issue of carbon emissions. The previous peak price was achieved in 1979, at US$43/lb, but after adjusting this figure for inflation you can arrive at today’s price of US$145/lb.