Uranium resurgence

[rcw1]

Deja vu

View attachment 157656

Good evening @frugal.rock

Hoping find you well. Yes indeed, there certainly has been more than a spark generated of late
Great volume today exhibited by URNM, like to see that 6 figures. Would even be somewhat happy with around that 55 000 more regularly. Not holding.
Certainly, nice movement, great opening, then stabilisation and limited variance could well set the scene for Monday ?



Have a very nice weekend.

Kind regards
rcw1

 

[frugal.rock]

Where to see ghost mushrooms in South Australia

SA is home to hundreds of species of fungi, but did you know some of them glow in the dark? Here’s where to look.

www.environment.sa.gov.au

 

[Sean K]

View attachment 158105

Where to see ghost mushrooms in South Australia

SA is home to hundreds of species of fungi, but did you know some of them glow in the dark? Here’s where to look.

www.environment.sa.gov.au

I've only got DYL and LOT now after VMY was taken over and thanked BOE for their efforts.

Maybe I should have bought more on the BO instead of locking in profit? Hmmm

Plenty of time left for this story to play out.

 

[frugal.rock]

Bumrush over?

 

[Sean K]

Bumrush over?

View attachment 158173

Profit taking?

Looks like this breakout has legs...

 

[rcw1]

Good morning
Has been reported via New Corp media today (28/06/23):

Shaw & Partners predicts a surge in uranium prices and reiterates that Paladin Energy as the "premium exposure to an expected surge in uranium prices." "The uranium sector is entering the next phase of its recovery after the long and deep downturn post-Fukushima," the broker says.

"Nuclear is becoming a more important part of the energy transition as governments face the reality that investment in renewables is not going to meet decarbonisation objectives due to limitations on transmission, batteries and firming capacity."

Kind regards
rcw1

 

[peter2]

Cameco making new highs. This would suggest that the POU is also higher. Cameco reports in 8 days.
I've bought some CCJ.us and will be looking at PDN. This is a spot warning. Any future trend higher for uranium will be a bumpy journey. Probably not as bumpy as copper because the uranium market is not open to the desperate retail traders.

 

[frugal.rock]

Today's roundup.
Look at PEN go @Garpal Gumnut
Mentioned it was probably a buy in the PEN thread the other day...

 

[Sean K]

Profit taking?

Looks like this breakout has legs...

View attachment 158387

Still going.

 

[sptrawler]

Still going.

IMO it has only just started its run, common sense has finally broken through and Europe will be chasing uranium hard IMO.

 

[Sean K]

IMO it has only just started its run, common sense has finally broken through and Europe will be chasing uranium hard IMO.

Agree. As Pete said, might be bumpy, but looks like a pretty solid bet.

Just as long as there's no accidents that will blow it up.

 

[sptrawler]

Agree. As Pete said, might be bumpy, but looks like a pretty solid bet.

Just as long as there's no accidents that will blow it up.

The reality is, the options are becoming limited, accidents might accelerate the closure of old technology reactors, but that in turn will accelerate the development of new technology reactors.
At this point in time there are no other viable options, on a global transition scale.

 

[Sean K]

Should have bought more on the dips....

There's a few companies that still need a higher price to restart or develop. I think DYL need about $70 for Tumas to get a green light and LOT need $65 I think. But, they are prices that need to be locked in as well, not just spot on a spike. So, I imagine some off-take agreements need to be made soon to get things up and running. Not sure where PEN is at with it's restart which will be the other beneficiary. Obviously PDN and BOE are on their way back to production.

 

[Dona Ferentes]

.. your list

...
post # 168 ...exactly what I was looking for. thx.

So , is there a renaissance of a resurgence happening all around us?

i would add NXG, which is slated to be the biggest new producer (according to them)

NexGen Energy is developing the Rook 1 project in Canada’s Athabasca Basin, considered to be the largest undeveloped uranium deposit in the country. Once completed, it will be the single largest uranium-producing mine in the world at full production north of 27 million pounds of annual production.

 

[Sean K]

Uranium stealth bull run continues.

 

[Sean K]

I was thinking of selling my uranium toys yesterday. Maybe not just yet.

 

[eskys]

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.

 

[Sean K]

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.

 

[Dona Ferentes]

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... "

 

[mullokintyre]

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.


Mick