CCJ 'contains' the unhedged production that so many of CCJ's detractors claim to want as an alternative to CCJ.
Detractors are correct that CCJ's currently-contracted production will sell at prices probably well below spot, and well below current term prices.
However, when demand picks up, CCJ has the industry's best set of idled production facilities. Disagree? Name a better alternative. It's not even close.
That, IMO, is what CCJ's detractors are missing. There are a host of alternatives to CCJ, but none of produce more than a relative trickle of U3O8, and most don't produce any. For most intents and purposes, the alternatives are "potential producers". And the point is that CCJ has huge amounts of protential productiion - easily the best and biggest set additonal production properties in the industry.