Prices in the spot market are well below the cost of production, it's been an industry in liquidation... but nuclear power plants need to keep running. Because it's been an industry in liquidation, production is going to be way less than expected consumption. On top of that consumers are just not price sensitive, as uranium is quite a small part of running a nuclear power plant. And adding more mines takes years, if not decades. Prices will rise, last time it went from $15 to $140 for uranium itself, and some mining companies did more than a 100x.