Since 2001 the price of uranium has steadily climbed over five-fold, at a rate and reaching heights not seen since the 1970s. As a result, the uranium industry has seen a surge of activity, ending a period of over 20 years of relative stagnation. Worldwide exploration expenditures in 2004 increased almost 40% over 2002 figures. Overall, resource totals have increased over the past two years, indicating that increased uranium prices have begun to have an impact. Based on patterns observed following previous periods of heightened exploration efforts, further additions to the uranium resource bas.