Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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None of this would have happened had I not entered PEN as my pick in the September Competition.
Just saying.
gg
I was thinking of selling my uranium toys yesterday. Maybe not just yet.
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Overnight movers: Uranium Soars
The Global X Uranium ETF rallied 3.05% overnight, marking its highly close since April 2022. Uranium spot prices soared to US$62 a pound earlier this week and above the key US$60 level for the first time since 2011. Let's see if we see local names like Paladin Energy (ASX: PDN) and Boss Energy (ASX: BOE) kick on.
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The commodity known as yellow cake leapt to $US65.50 ($101.40) a pound this week, setting a fresh high for the post-Fukushima era. The disaster at the Japanese nuclear reactor cruelled the sector in March 2011.
“Cameco is struggling to ramp up their production after curtailing it through COVID-19,” said Guy Keller, a fund manager at Tribeca. “You’ve also seen political upheaval in Niger put a question mark around supply, and Peninsula in the US saying their project is delayed by two years.”
The spot price was further propelled by a bullish report from the World Nuclear Association forecasting global uranium demand would double from 65,650 tonnes this year to 130,000 tonnes by 2040.
This comes as North American and European atomic energy companies are putting further pressure on available ore, looking to sign long-term uranium contracts outside Russia, which is still a big provider of ore and enriched uranium to the US.
Mr Keller said many of the atomic utilities were “self-sanctioning”, meaning they were actively seeking non-Russian supply.
Reactors in Japan and Germany that were set to shut down had reversed course, adding further pressure to the dynamic, and while this “is small compared to increasing Chinese demand, it is a clear bellwether for the wider industry”, said Romano Sala Tenna, fund manager at Katana Asset management.
and the Global Macro guys are getting excited
.
" ....But we remain very bullish on energy, thinking that oil is going to go into the triple digits. So, we're allowing energy stocks in addition to both oil and natural gas on the EMP side, and also the pipeline side. Also, very bullish on uranium, which is finally getting an appreciation after many years in the doldrums as nuclear has something of a renaissance.
Ed D’Agostino:
"Uranium stocks are going parabolic. Some of them are, at least. I mean, I've been watching it over the past few months. It's stunning. Do you think there's more room to run there?
Peter Boockvar:
"I do. I don't want to necessarily discount what you say, and that a lot of the easy money has sort of been had. But I do think that there's more upside to this bull market. Now, when the front page of Barron's has a piece on uranium, I may be a bit more nervous. But I think the supply-demand imbalances are going to last for many, many years, and that there's likely further upside in uranium... "
Interesting table below on world uranium production.
I had no idea that Kazakhstan was the dominant producer by far.
Oz comes third in tonnage, but we have no nuclear reactors aprt from the Lucas heights ty one.
Uranium production has declined from the highs of 2016 , with annual production still below the 2013 year.
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Mick
None of this would have happened had I not entered PEN as my pick in the September Competition.
Just saying.
gg
Sean it would be a handy insight if you could give a heads up on perhaps what you may be nominating in october. Then we can all stear clear of them !!!!!Obviously no one should be following my dart throws.
Interesting table below on world uranium production.
I had no idea that Kazakhstan was the dominant producer by far.
Oz comes third in tonnage, but we have no nuclear reactors aprt from the Lucas heights ty one.
Uranium production has declined from the highs of 2016 , with annual production still below the 2013 year.
View attachment 162501
Mick
maybe a change of darts would be timely or maybe some rosin on the fingertipsObviously no one should be following my dart throws.
well if you don't buy Russian uranium they are liable to use the surplus ( to the power generation needs ) to tip missiles or even sell it to others to use in missile tips ( India , Pakistan , North Korea ... ) but let's sanction Russia to stop them selling uranium to OUR customers ( who are less likely to nuke us )and, Russia...
Are you off your head?well if you don't buy Russian uranium they are liable to use the surplus ( to the power generation needs ) to tip missiles or even sell it to others to use in missile tips ( India , Pakistan , North Korea ... ) but let's sanction Russia to stop them selling uranium to OUR customers ( who are less likely to nuke us )
China , North Korea , probably Vietnam , Cuba will absolutely , and it seems chunks of Africa are becoming more friendly as well , which way will Afghanistan lean , and BTW both Syria and Iran seem to accept help from Russia as well ,Are you off your head?
Who will do business with the Russians?
Name One !
China , North Korea , probably Vietnam , Cuba will absolutely , and it seems chunks of Africa are becoming more friendly as well , which way will Afghanistan lean , and BTW both Syria and Iran seem to accept help from Russia as well ,
i just hope the world has an abundant supply of neon gas
Have they got any left?
i am told they have rather large training schools for drone pilots while Huawei is getting skilled at mobile communications , now maybe they will deliver noodles to your door or the really big drone swarms will be ChineseWhat do you do with an abundance of Young Male Unemployed (22 Yrs)
that will depend on what tint of Green the Government coalition partners take on ( Albo still needs them to vote his way most of the time )Will this open the door for the uranium deposits here. Or have our pollies got their heads too far into the sand dune.
that will depend on what tint of Green the Government coalition partners take on ( Albo still needs them to vote his way most of the time )
it might pay to remember BHP has a reasonable amount of uranium by-product from Olympic Dam ( an asset they decided not to expand in the near-term )
also until we get those veteran nuclear submarines , we have very few nuclear power facilities ( one last i heard ) and we still haven't paid for those F-35s , so maybe no excess cash for a nuclear generation plant , for say,Melbourne/Victoria
and again read this morningexcerpt below from *Small Caps 20/09
Uranium shortage looms as miners race to supply existing and new reactors
The days of buying US$40 per pound uranium are over — and also probably at US$50 or US$60, Cameco chief financial officer, Grant Isaac, said over the weekend.
“We’re going to need new supplies,” he added, reflecting the market view now held by the operator of the world’s largest uranium mine, Cigar Lake in Canada.
The world is fast coming to the same conclusion.
At present, uranium inventories held by US and European utilities are at their lowest levels since 2008.
The reason: energy security clashing with a focus on clean energy.
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