RE:RE:RE:RE:RE:PRISThat is an excellent synopsis quakes. You are exactly right and I agree that the security of supply is really what has rattled the utilities lately. I am sure there are discussions in board rooms across North America going on right now. One of the big differences between now and the last Uranium Bull is that between them the Russians and the Kazakhs control 60% of the world Uranium supply. By comparison OPEC only every controlled about 15% of oil supply. Ain't that a scary thought. Mr Putin only needs to have a falling out with Mr.Trump and the supply of Uranium from Kazakhstan disappears.
You also make an excellent point regarding Cigar Lake and new mines. I think it is correct to say that all current Uranium minesd (Olympic Dam excepted) have between 10 and 15 years of operating life left.. That means unless investments are made now in new mines there will be none left by 2028 to 2033. There are NO new mines under construction and it take 8 to 10 years to permit, license and get one into operation. Nobody is going to spend a few billion at $20 bucks a pound....perhaps NXE will but the other deposits are not rich enough to make it worthwhile.
Once the contracting starts it will ramp up quickly since no-one wants to be the last one to the party and find that it is over and all the drinks are gone!!
If you are a supply chain manager in a nuclear utility those thoughts...and job preservation are running through your mind right now.
I would not want to be one of thopse guys that has to tell his boss there is no Uranium and he has to shut the plant down. Nuclear Power Stations are a captive market lets not forget that. They cannot operate on anything else.
Great post
MAlcolm