I own Coal and Uranium stocks. Coal stocks are currently outperforming yet remain cheap on FCF yield basis.
I expect U stocks to rip as spot price ($50) climbs to marginal cost of new production ($80) and the west keeps extending plant lifetimes and Japanese restart.
I see Nuclear as a 5-20 year threat to Coal in the West.
The third world will build both Coal and nuclear as fast as they can. The west has lost its muscle memory to build new nuclear but if we get over our Western home market bias - Koreans, Russians and Chinese are doing 90% of the new build and they build them in 5-7 years.
Maybe Australia will legalise nuclear in time for it to replace Coal plant shutdowns in the 2030's?
Target $9.36, page-3158
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