On Thursday 1 Feb, Friday 2 Feb our time, Kazatomprom will give guidance on a potential reduction of their annual production of uranium pounds. Nick Lawson from Ocean Wall predicts it could be at least 20%, which is well above the recent 10% predictions.
This would be huge for the market and even rival the historic flooding of Cigar Lake according to some. Even a 10% reduction would be significant and potentially cause a spike in equities.
Kazatomprom has already confirmed that they will meet contractual obligations in 2024 even if their production is curtailed. This would mean buying lbs in the spot market. Bullish in itself.
In my opinion, it would be wise to have one's portfolio secure before their announcement.
On Thursday 1 Feb, Friday 2 Feb our time, Kazatomprom will give...
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