October 3, 2008–The spot uranium price continued to slip this week and the Uranium Spot Price Indicator fell to $51.00 per pound U3O8, down $1.00 from the September 30 Exchange Value. Transactions totaling less than 500 thousand pounds U3O8 equivalent are reported. Sellers continue to seek buyers and remain willing to discount prices in order to conclude transactions. Potential purchasers are being extremely cautious about expressing buying interest so as to avoid creating upward price pressure. However, the current price level is attracting significant interest from utilities and other discretionary buyers who sense that a market bottom may be at hand. Sellers are finding that they need not cut prices as sharply as in previous weeks in order to move material, and the gap between willing sellers and willing buyers appears to have narrowed considerably.