Al Klein

But things are moving. There will be a mine.

A thorium reactor is a fission reactor, not a fusion reactor. Fusion is at least 2 decades away from commercial reality. A thorium reactor requires a completely differency nuclear fuel cycle chain than for the U-PU fuel cycle. Licensing would be a nightware. This is not an issue in China.

A weaker dollar can hurt export-driven economies (e.g., China, Japan) that rely on selling to the US, as their goods become pricier for American consumers. China exports about 4x than it imports, so a weaker dollar is definitely going to hurt.This only adds to the Tariff considerations China faces.

A weak US dollar is not necessarily a good thing, when one looks at global reserve currency considerations. Dollar reserves buy less in global markets, impacting countries reliant on importing commodities priced in dollars (e.g., oil). Dollar is still used for 70% of international transactions.

Just listened to Mark Chalmers in the European Uranium Forum telecon. Energy Fuels will be active on three fronts: uranium, REE, and Vanadium— all
on critical minerals list. EF is currently not
valued for its REE and vanadium components. This will now change with Section 232.

I am pleased that you are reporting the spot price. It will take some time before the market will notice. People are too impatient in the uranium space.

Fundamentals are good and getting better. U stocks are cheap, and funds with cash need to deploy them in real assets like uranium. Have we turned the corner?

Good interview. Mr. Sheriff answers questions directly and concisely. Question- who is the public company rumored to have 15M lbs uranium to be sold to a US utility? This is about 40% of US annual demand.

China, as well as the EU will concede and make
a deal. Trade deficits cannot continue and they know it.

C

A

Uranium will recover more quickly than the broad market. The fundamentals are just too strong. Utilities have to start buying at some point- they can’t flex up or draw down inventories forever.

Good summary, thanks. Will this small rally continue? I am looking for an overdue rise in spot price.

Worth the risk here. Stephen Roman is a good CEO and has pursued this project diligently. The payoff will come with a JV announcement or DFC financing decision by the end of the quarter.

I think Merz intended to say "Kernfission" instead of "Kernfusion". Fusion energy is at least two decades away. He probably confuses himself with fusion vs fission. Typical of politicians who know practically nothing about technololgy.

Looks interesting. If we get a hint of good news for the sector, this could set us up for a nice short squeeze.

Outstanding sleuth work, John. This will delay closing of the supply/demand deficit by at least two years. Is there any link you could supply for this report?

Please provide some
Sources for this potential nuclear fleet restart.

Good analysis. Cameco plays the long game.

According to the March 5 announcement, it appears that Canada will be dramatically expanding support for its native CANDU reactor technology, which utilizes natural uranium, not enriched uranium to 4-5%. How will this impact some of the global enrichers like Centrus, and the uranium miners?

Not really. For Uranium Ore, Approximately 12% of U.S. imports came from Russia in 2022.
For Enriched Uranium, Around 27% of enrichment services were sourced from Russia in 2023, though this could vary slightly year-to-year or with untracked re-ports.

Still bullish after all these years. See triple digits for U spot in 2025 after all this foolishness dissipates.