G'day fellow retail punters,
Remember that Boss Energy (BOE) post we did exposing the coordinated short attack? Well, buckle up buttercup, because we've just uncovered the smoking gun that proves this wasn't a one-off hit job - it was a full-blown uranium sector takedown executed by the same institutional cartel.
The evidence is so damning it'd make a High Court judge blush. We're talking about JPMorgan Chase orchestrating simultaneous attacks on multiple uranium companies within a 5-day window in July 2025, using the exact same playbook, the exact same institutional partners, and the exact same
Disclaimer
Before you start spitting chips in the comments or having a sook about "market conspiracy theories," let me be crystal bloody clear:
This post is based entirely on publicly available documents that these corporate cowboys are legally required to file with the ASX. Every date, every figure, every securities lending arrangement - it's all there in black and white on the official filings. If JPMorgan and their mates didn't want us reading their homework, they shouldn't have been forced to hand it in to teacher (ASIC).
I'm not your financial advisor, your accountant, or your mum. This is my analysis of what the documents show, presented with a healthy dose of Aussie skepticism about how fair dinkum our markets really are. Do your own research, think for yourself, and if you're gonna throw your hard-earned at the stock market, maybe chat to someone who actually knows what they're talking about.
This isn't financial advice - it's a bloody good yarn about how the game is played. If reading about institutional coordination gets your knickers in a twist, might be time to ask yourself why that is.
The only thing I'm trying to pump here is transparency, and the only thing I'm trying to dump is the bullshit narrative that retail investors are on a level playing field.
THE SMOKING GUN: JPMorgan's Paladin Energy Filing
On July 23, 2025 - just ONE DAY after the BOE massacre - JPMorgan filed substantial holder notices for Paladin Energy (PDN) that read like a how-to manual for market manipulation:
THE SMOKING GUN: JPMorgan's Paladin Energy Filing
On July 23, 2025 - just ONE DAY after the BOE massacre - JPMorgan filed substantial holder notices for Paladin Energy (PDN) that read like a how-to manual for market manipulation:
The Securities Lending Empire:
- 24.68 MILLION shares in active lending arrangements
- Same institutional borrowers: Barclays, Goldman Sachs, Morgan Stanley, UBS, Macquarie, Merrill Lynch
- Same "best endeavors" voting control mechanisms we saw with BOE
- 16.8% of PDN shares controlled by short sellers (making it the 2nd most shorted stock on the ASX)
The borrowing agreements span multiple jurisdictions and include the exact same financial institutions that we identified in the BOE attack. This isn't coincidence, mates - this is systematic market manipulation.
THE COORDINATED TIMELINE - JULY 2025
July 22, 2025: BOE drops -44% despite strong operational resultsJuly 23, 2025: PDN drops -11.2% despite record production performance
July 23, 2025: JPMorgan files substantial holder notice showing massive securities lending operation
The precision of this timing makes Swiss clockwork look sloppy.
THE IDENTICAL ATTACK PLAYBOOK
Step 1: Build the Foundation (Months in Advance)
- JPMorgan establishes massive securities lending pools for multiple uranium companies
- Same institutional borrowers (Goldman, Morgan Stanley, Barclays, UBS) build coordinated short positions
- Analyst coverage teams prepare contradictory research (rate companies "Overweight" while facilitating massive shorting)
Step 2: Set the Trap (Quarterly Results Season)
- Wait for predictable quarterly announcements when companies are in blackout periods
- Pre-position analyst expectations to create artificial "disappointment" narratives
- Coordinate timing across multiple companies for maximum sector impact
Step 3: Execute the Attack
Both PDN and BOE reported objectively strong quarterly results:
PDN's Strong Fundamentals:
- +33% production increase (better than expected)
- 993,843lb U₃O₈ produced (highest quarterly output since restart)
- Record crusher throughput in company history
- 13 offtake contracts (up from 12) totaling 24.1mlb through 2030
- US$89M cash plus US$50M undrawn facility
BOE's Strong Fundamentals:
- 349,188 pounds U₃O₈ drummed (up 18% quarter-on-quarter)
- A$36/lb quarterly costs (below guidance of A$37-41/lb)
- 872,607 lbs total FY2025 production
- US$71/lb average realised price
Step 4: Manufacture the "Disappointment"
Despite strong operational performance, the cartel focused on:
PDN: "Disappointing" realised price of US$55.6/lb (which was purely temporary contract timing, not structural)BOE: "Concerning" future guidance buried in announcements (despite exceeding current targets)
Step 5: Coordinated Media Amplification
- Morgan Stanley (part of shorting consortium) sets artificially high expectations, then cries "disappointment"
- Citi amplifies the negative narrative despite admitting issues aren't structural
- Multiple analyst downgrades timed to coincide with short attacks
THE MANIPULATION MECHANICS
The Contradiction That Proves Intent
Here's where it gets really bloody obvious, mates:
JPMorgan's Double Game:
- Publicly rates PDN as "Overweight" with AUD$5.90 price target
- Simultaneously orchestrates 24.68M share lending pool enabling massive shorting
- Also downgrades PDN to "Underweight" through different divisions
You literally cannot make this stuff up. They're playing both sides while facilitating the very attacks that drive prices down.
The Analyst Coordination
April 6, 2025: Jefferies downgrades PDN from "Buy" to "Hold" (AUD$8.50 → AUD$5.50)July 2025: Morgan Stanley downgrades PDN to "Equal Weight"July 2025: JPMorgan downgrades to "Underweight"
Notice how these downgrades create a perfect setup for the July quarterly attack? This is textbook market manipulation coordination.
THE RESULTS: SECTOR-WIDE DEVASTATION
The coordinated attack achieved exactly what it was designed to do:
Immediate Price Destruction:
- BOE: -44% in a single day (July 22)
- PDN: -11.2% in a single day (July 23)
- Sector contagion across other uranium companies
Long-term Sentiment Damage:
- Created artificial "crisis of confidence" in uranium sector
- Triggered retail panic selling
- Established false narrative about sector-wide problems
THE PLAYERS: YOUR FRIENDLY NEIGHBORHOOD CARTEL
The Orchestrator: JPMorgan Chase & Co.
- Primary securities lender for both PDN and BOE
- Conflicted analyst coverage (simultaneous buy and sell ratings)
- Global coordination across multiple subsidiaries
The Borrowers (Same Cast for Both Companies):
- Barclays Capital Securities Limited
- Goldman Sachs & Co. LLC
- Morgan Stanley & Co. International PLC
- UBS AG London Branch
- Citigroup Global Markets Limited
- Macquarie Bank Limited
- Merrill Lynch International
The Amplifiers:
- Analyst teams creating artificial expectations and "disappointment" narratives
- Financial media focusing on minor negatives while ignoring strong fundamentals
- Research houses coordinating downgrades around attack timing
WHY THIS MATTERS FOR EVERY RETAIL INVESTOR
This isn't just about uranium - it's about the systematic rigging of our markets. Here's what this proves:
1. The Game is Rigged Against You
When the same institutions can:
- Lend shares to short sellers
- Provide "research" coverage
- Execute the trades
- Control the narrative
You're not investing, you're being farmed.
2. Strong Fundamentals Don't Matter
Both PDN and BOE delivered objectively excellent results. It didn't matter. When the cartel decides to take you down, your actual performance is irrelevant.
3. The Timing is Never Random
Notice how these attacks happen:
- During quarterly blackout periods (companies can't defend themselves)
- Using "guidance disappointment" (future projections, not current performance)
- With perfect coordination across multiple companies
4. The Scale is Massive
We're talking about:
- Hundreds of millions in market cap destroyed
- Thousands of retail investors wiped out
- Entire sector confidence artificially demolished
THE AUSSIE POLITICAL BACKDROP: PERFECT TIMING FOR SABOTAGE
Here's where this gets really bloody suspicious, mates. The coordinated uranium attacks happened right when the sector should have been absolutely flying.
The AI Nuclear Renaissance (June-July 2025)
Just weeks before these coordinated attacks, the uranium sector was experiencing unprecedented bullish momentum:
Global Uranium Price Surge:
- June 2025: $59.58/lb (Federal Reserve data)
- July 3, 2025: $77.40/lb - "seven-month high of $79 on June 27th"
- July 28, 2025: $71.30/lb (down from peaks after coordinated attacks)
- Price trajectory: From $63.50/lb in March to $79/lb peak in June - a 25% surge in 3 months
Australia's Strategic Position:
- Australia controls 28-30% of global uranium reserves - the world's largest
- 1.147 million tonnes of uranium in Economic Demonstrated Resources
- Olympic Dam is the world's largest known uranium deposit
- Australia supplies the United States - "over half of final demand" for nuclear fuel
The AI Data Center Boom:
- Microsoft, Google, Amazon all announcing massive data center expansions requiring 24/7 baseload power
- Nuclear energy identified as the only reliable clean baseload to power AI infrastructure
- "Electrification, big data centers, and artificial intelligence (AI) are fueling the push for more reliable and clean energy sources"
- US consumes 45 million pounds annually while producing only 1% domestically
Supply/Demand Fundamentals:
- "Supply gap is around 25 million pounds and may widen to 40 million pounds by 2027"
- "Global production in 2024 met just 80-90% of reactor demand"
- Sprott announces $200 million uranium purchase (double previous commitment)
Australian Government Support:
- Peter Dutton's Coalition making nuclear energy a key 2025 election platform
- Bipartisan recognition that Australia needs nuclear to meet net-zero targets while maintaining grid stability
- AUKUS submarine program creating additional uranium demand for military applications
- Labor government under increasing pressure to lift the nuclear moratorium
The Perfect Storm of Bullish Catalysts
In the weeks leading up to July 2025, we had:
- AI companies publicly stating nuclear is essential for data center power
- Uranium spot prices surging 25% from $63.50 to $79/lb in 3 months
- Australian political momentum building toward nuclear acceptance
- Global energy crisis highlighting need for reliable baseload power
- ESG investors recognizing nuclear as "green" transition technology
- Australia sitting on 30% of global uranium while prices skyrocketed
This should have been rocket fuel for Australian uranium companies.
The Sabotage Timing
So what happens? Right at the peak of this momentum:
- July 22: BOE gets decimated (-44%) despite strong production results
- July 23: PDN gets hammered (-11.2%) despite record quarterly performance
- Sector narrative instantly flips from "uranium boom" to "sector problems"
The timing is so perfect it's almost artistic. Just as uranium was about to benefit from the AI revolution and changing Australian politics, the institutional cartel executed a precision strike to kill the momentum.
The Political Implications
This wasn't just about making money on shorts - this was about political influence:
Killing Australian Nuclear Renaissance:
- Crater uranium stock prices right before election discourse intensifies
- Create "failed investment" narrative around Australian uranium companies
- Undermine political arguments for nuclear energy development
- Maintain energy import dependence (guess who profits from LNG exports?)
Economic Warfare Against Australia's Strategic Assets:
- Australia controls 30% of global uranium reserves - this isn't just about money, it's about strategic control
- While uranium prices surged 25% in 3 months (March $63.50 → June $79/lb), Australian companies got hammered
- Foreign financial institutions coordinating to keep Australia as a "quarry" rather than value-added processor
- Prevent Australian companies from capitalizing on the AI-driven nuclear boom they should naturally lead
International Strategic Implications:
- Weaken Australian uranium sector just as AUKUS submarine program ramps up
- Maintain global supply chain control by offshore financial institutions
- Prevent Australian energy independence through domestic nuclear development
- Keep Australia dependent on foreign capital while sitting on world's largest uranium reserves
The "Coincidence" That Wasn't
Let's be crystal clear about the timing:
March 2025: Uranium hits 18-month low at $63.50/lbApril-June 2025: AI nuclear boom drives prices up 25% to $79/lb peakJune 27, 2025: Uranium hits seven-month high of $79/lbEarly July 2025: Australian political nuclear debate intensifies
Mid-July 2025: Record quarterly results from major uranium producersJuly 22-23, 2025: Coordinated financial attack destroys sector momentumJuly 28, 2025: Uranium price falls to $71.30/lb as attacks succeed
The precision of this timing isn't market forces - it's economic warfare designed to prevent Australia from capitalizing on the biggest uranium boom in years, despite sitting on 30% of global reserves.
THE EVIDENCE TRAIL
Document 1: JPMorgan PDN Substantial Holder Notice (July 23, 2025)
Shows 24.68M shares in lending arrangements with the exact same institutional borrowers as BOE.
Document 2: Securities Lending Agreements
Detailed agreements with:
- Barclays (multiple settlement dates)
- Goldman Sachs (July 22, 2025 - day of BOE attack)
- Morgan Stanley (July 8, 17, 21, 2025)
- UBS, Citigroup, Macquarie (coordinated timing)
Document 3: Trading Data
Massive selling volumes coordinated across:
- 16+ pages of detailed trades
- Millions of shares borrowed and returned
- Perfect timing with quarterly announcements
Document 4: Analyst Research Timeline
- April: Jefferies downgrades (setup phase)
- July: Multiple coordinated downgrades (execution phase)
- Media amplification (damage phase)
THE BIGGER PICTURE
Why Uranium? Why Now?
The uranium sector is perfect for this kind of manipulation because:
- Limited number of producers (easier to coordinate attacks)
- Highly technical industry (easier to create confusion about "problems")
- Long-term contracts (easier to manufacture "timing disappointments")
- Retail-heavy investor base (more likely to panic sell)
- Nuclear energy narrative (easy to create fear stories)
The Profit Motive
With uranium prices at multi-year highs and nuclear energy surging globally, the shorts needed to create artificial supply concerns to justify their positions. By coordinating attacks on the two largest Australian uranium producers simultaneously, they could:
- Create sector-wide panic
- Drive down commodity prices
- Trigger retail capitulation
- Cover shorts at artificially low prices
WHAT CAN WE DO ABOUT IT?
1. Demand Transparency
- ASIC needs to investigate these coordinated lending arrangements
- ASX should require real-time short interest disclosure
- Media should report on manipulation, not just price movements
2. Support Strong Companies
Don't let manufactured fear drive you away from companies with:
- Strong operational performance
- Growing production
- Solid balance sheets
- Long-term contracts
3. Understand the Game
When you see:
- Coordinated analyst downgrades
- Disproportionate price reactions to good news
- "Disappointment" narratives for strong results
- Unusual securities lending activity
You're witnessing market manipulation, not fundamental analysis.
4. Hold Them Accountable
Share this information. Tag ASIC. Contact your local members. The only way this stops is if enough people understand what's happening and demand action.
THE BOTTOM LINE
The July 2025 uranium sector attack wasn't market forces - it was market manipulation.
We have documented evidence of:
- Coordinated securities lending across multiple companies
- Identical institutional participants in both attacks
- Synchronized timing within a 5-day window
- Conflicted analyst coverage from attack participants
- Artificial narrative creation despite strong fundamentals
JPMorgan and their institutional partners have turned market manipulation into a science. They've identified that quarterly reporting season provides the perfect cover for coordinated attacks, and they're systematically targeting entire sectors.
The PDN and BOE attacks are just the beginning. Until we demand real accountability and transparency, every retail investor is at risk of having their investments artificially destroyed by this coordinated cartel.
Stay vigilant, stay informed, and don't let the bastards grind you down.
Cheers,Your friendly neighborhood market skeptic : Cyberstar
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