Nope, its because Cameco's contract book is trash and they now have to buy million of pounds in the spot market to meet their 2024 targets.
The big boys played their hand too soon and in turn have hurt themselves. That is why we trust John and his patient approach.
This is the thing with the uranium markets, the prices today don't mean much when you have a contract book with deliveries due in years to come. All that matters is what happens then and not now. Cameco and KAP are full until 2027/8. They have some flex provisions but not much. Most is contracted at a price.
DYL has Zero contracted, and when we do, we will have it all contracted for delivery in 2026/7 at OVER $100. The same cant be said for Cameco and others. Money is rotating from them into Developers and juniors and this will continue.
THE SQUEEZE IS ON, page-1556
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