NYSEAM:UEC - Post by User
Post by
BruceANOon Jun 05, 2023 8:00am
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Post# 35479928
Opaqueness
Opaqueness The one thing that drives me nuts is the opaqueness of the Uranium market. It seems nobody knows how much available Uranium is actually out there. Utilities generally have between 3 to 5 years supply for every Reactor they have running. Sprott and Yellow cake have millions of pounds but is that available. A few Uranium companies have bought Uranium off the Spot market supposedly that could be available. The US and a few other countries have Uranium in strategic reserves. The DOE was selling its reserves under Obama but now now seems to be buying. China and Russia obviously have lots of Uranium but it’s probably not for sale. Then there is Uranium from running tailings through the the mills again apparently if the price gets high enough that’s worth while. Then there is MOX fuel derived from extracting plutonium out of spent fuel and reusing it. Lately lve heard that for quite a few years ,the amount of Uranium mined is less than the amount used by operating Reactors and we may be reaching a tipping point. It seems that Cameco management is cautiously optimistic that this is the case. The biggest positive news lately I thought was China’s replacement of 100 gigawatts of coal generation into nuclear. That’s 100 additional 1000 megawatt Reactors but when it was announced it didn’t seem to cause that big a reaction. It’s been a long wait hopefully this is it.