from forbes
U.S. Ban Could Spark Another 60% Hike In The Price Of UraniumLast year’s uranium rush was a simple case of demand exceeding supply after a prolonged drought in the development of new mines and re-awakened interest in nuclear power as a low emissions source of base-load electricity.
Three recent events in the U.S. have built on interest in uranium and the nuclear fuel cycle as has the latest sabre-rattling over the war in Ukraine.
The first development which returned nuclear power to the front page was the start last week of electricity production at the fourth reactor of Georgia Power’s Plant Vogtle, described as the last big nuclear build as the focus shifts to small modular reactors.
Then came bipartisan political support in Washington for laws which will speed the construction of a new generation of nuclear power plants.
Capping off this burst of activity focused on a once contentious power source was the passing by the U.S. Senate of a bill banning the import of Russian uranium which is now waiting on the signature of President Biden before it becomes law.
The ban, if enforced would be a progressive shut down of Russian material with power utilities allowed waivers until the end of 2027 to manage the shift to sourcing fuel domestically or from other suppliers such as Canada or Australia.
a 60% rise in the share price from the spot price alone is a great boost to Nexgen, add into the equation the possibility of a new discovery and the almost certainty of a Federal Government approval to mine, those two milestones can add significant upside..
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