The KE Report

Justin Huhn – Part 4 Of Nuclear Fuels Demand And Supply Factors – Pro Tips On Investing In Uranium Stocks


Listen Later

Justin Huhn, Founder and Publisher of the Uranium Insider, joins me for yet another very comprehensive macro update on the supply and demand fundamentals for uranium and the nuclear fuel sector, how the longer-term contracting cycle is setting up with utility companies, and what he is watching and how he is positioning in the uranium equities as we’ve started to see a bounce across the sector the last 2 months. This is a longer-format discussion building upon our prior conversations in 2024, because even more key news and developments have been announced in the nuclear and uranium sector.

 

We start off reviewing the 4 executive orders out of the Trump Administration in May that deal with the nuclear and uranium industries, and what this means for the sector and public perception.   We spend some time discussing both the tailwinds from the broader generalist interest in Small Modular Reactors (SMRs) and nuclear stocks, but also make the larger point about the attractive supply/demand fundamentals that already existed and still exist, even without AI datacenter electricity demand or even modeling in the SMRS.  The global reactor fleet is only continuing to grow,  with more new reactor builds in the East, plus mine restarts and mine extensions.  There are growing initiatives globally,  coming out of the COP29 conference for many nations to triple their nuclear power capacity by 2050.

 

Transitioning over the supply environment from the uranium mining companies, we’ve seen a flurry of news all year out of US and African producers struggling to ramp up production, noting the slower than anticipated restart of the Langer Heinrich Mine operated in Namibia by Paladin Energy (ASX: PDN) (OTCQX: PALAF). Additionally, with Kazakhstan being the largest uranium swing producer via Kazatomprom, we’ve seen guidance lowered the last couple years due to a shortfall of sulphuric acid, and increased taxes on production, with both expected to crimp output.  Then, there were even more surprises when Kazatomprom announced a big decrease in their JV production for Canada with Cameco (CCO.V) (CCJ).   

 

Next we point out that large development projects in the Athabasca Basin of Canada, like the Phoenix Project held by Denison Mines (TSX: DML) (NYSE: DNN), and in specific the Arrow Project from NexGen Energy (TSX: NXE) (NYSE: NXE), initially anticipated to start bringing on production by 2028 are also seeing timelines get pushed back to 2030 or later. There is very little new supply coming online globally, with the exception of some smaller production out of the US and Australian producers. All of this points to a much more constrained output from global uranium producers, even in face of growing demand.

 

Wrapping up, Justin weighs in on which types and what stage of uranium mining stocks have his interest, and why he remains bullish on US producers and developers, and select Canadian developers and explorers.

 

Click here to visit the Uranium Insider website.

...more
View all episodesView all episodes
Download on the App Store

The KE ReportBy KE Report

  • 4.3
  • 4.3
  • 4.3
  • 4.3
  • 4.3

4.3

11 ratings


More shows like The KE Report

View all
Financial Sense(R) Newshour by Jim Puplava

Financial Sense(R) Newshour

376 Listeners

The Peter Schiff Show Podcast by Peter Schiff

The Peter Schiff Show Podcast

5,673 Listeners

Sprott Money News by Sprott Money

Sprott Money News

143 Listeners

Macro Voices by Hedge Fund Manager Erik Townsend

Macro Voices

3,062 Listeners

Quoth the Raven by Quoth the Raven

Quoth the Raven

932 Listeners

Mining Stock Daily by Trevor Hall

Mining Stock Daily

95 Listeners

Palisades Gold Radio by Collin Kettell

Palisades Gold Radio

252 Listeners

Value Hive Podcast by Brandon Beylo

Value Hive Podcast

91 Listeners

The Grant Williams Podcast by Grant Williams

The Grant Williams Podcast

1,352 Listeners

Doug Casey's Take by Matthew Smith

Doug Casey's Take

126 Listeners

Wealthion - Be Financially Resilient by Wealthion

Wealthion - Be Financially Resilient

383 Listeners

The Julia La Roche Show by Julia La Roche

The Julia La Roche Show

55 Listeners

Thoughtful Money with Adam Taggart by Adam Taggart | Thoughtful Money

Thoughtful Money with Adam Taggart

375 Listeners

The David Lin Report by The David Lin Report

The David Lin Report

34 Listeners

Monetary Matters with Jack Farley by Jack Farley

Monetary Matters with Jack Farley

91 Listeners