It had been too long since we last spoke with Aussie funds management’s leading uranium bull, Guy Keller.

He joined us on the show again to pick apart the enormous short-interest in uranium stocks, why EnCore was down 50% on last weeks news, how he’s thinking about portfolio management, the spot vs term debate, where incentive pricing now sits, what’s next for NexGen and plenty more.

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(0:00:00)Introduction

(0:02:30)The SHORTS

(0:06:22)Deepseek reaction

(0:08:05)The balance of shorts with hedging strategies

(0:11:21)Spot price to Term price

(0:13:00)SPUT trading tactics

(0:17:45)BHP's role in spot market

(0:19:12)Contracting structures currently

(0:22:05)Restart performance and incentive pricing

(0:27:45)enCore plummet and how is Boss sitting?

(0:38:14)Reflection on PDN and Fission

(0:41:53)Namibian restarts

(0:44:50)Aura Energy

(0:46:30)Buying developers/producers vs physical

(0:49:05)Uranium tech investment

(0:51:34)Knowing who's contracted and who's not

(0:56:13)What to see out of Nexgen this year