I really don't think you've got a good picture of the overall situation here.
- There are 50 reactors being connected to the grid over the next 6 years.
- Each new reactor needs 2-3x yearly consumption in the initial load
- Illinois just voted to keep 3 reactors open that were slated to close (you can bet more states will follow)
- Sprott has bought over $6m lbs of uranium in it's first 3 weeks with it's first $300m
- It just extended the ATM by another BILLION dollars.
- SMRs are taking off with china getting 2 to criticality this week.
- Before all this the market was in a 50m lb/PA structural deficit
- Mothballed supply (which doesn't even come close to even filling the 50m lbs) will take 12-18m* to come back online and only at a spot price above $55 will that even start to happen
- New mines require $80+ and will take 2 years min - a good chunk will fail or experience serious delays.
Not the time for Uranium? Get real.
* PEN might get there in 6 months after $60 but that's only $1.15m lbs PA
