US Uranium stocks been going up all week, well off the bottoms...

US Uranium stocks been going up all week, well off the bottoms of a few weeks ago, PEN will have to follow..

: President Trump Announces that the Significant Challenges Facing U.S. Uranium Mining Are a National Security Issue.
08/19/2019 | 06:10am EDT... President Trump Establishes Working Group to Identify Ways to Revive and Expand U.S. Nuclear Fuel Production
President Trump announced that the U.S. Department of Commerce (DOC) found that imports of uranium are a threat to U.S. national security. President Trump established the U.S. Nuclear Fuel Working Group to further study U.S. nuclear fuel production, including uranium mining, as the next phase of this investigation.
We commend President Trump for recognizing the significant challenges facing the American uranium mining industry. Over the next 90 days, the working group will examine the current state of U.S. nuclear fuel production and develop recommendations for reinvigorating the entire nuclear fuel supply chain consistent with U.S. national security and nonproliferation goals. Our two companies will stand ready to support the working group as it conducts its study.
In his memo, President Trump stated, "I agree with the Secretary [of Commerce] that the United States uranium industry faces significant challenges in producing uranium domestically and that this is an issue of national security."
The entire front end of the U.S. nuclear fuel cycle is under siege. The American uranium mining industry will produce less than 1 percent of the uranium needed to fuel U.S. nuclear power plants this year. The only domestic uranium conversion facility in the U.S. shut down in 2017, and we lack any domestic uranium enrichment capability for national security applications.
The industrial base to support U.S. nuclear fuel production is rapidly disappearing. Reliance is shifting from allied to foreign nuclear fuel sources and technology in much the same manner as what has happened with rare earth minerals. We need nuclear power, supported by a robust and reliable domestic uranium and nuclear fuel industry, to power our 21st century economy and ensure our national security.
As President Trump stated, the U.S. imports nearly all of the uranium needed to meet commercial needs "because of increased production by foreign state-owned enterprises, which have distorted global prices and made it more difficult for domestic mines to compete."The Trump administration has identified uranium as critical to the nation's security and economic prosperity, but the U.S. overwhelmingly relies on imported uranium. Uranium deliveries from state-owned companies in Russia, Kazakhstan and Uzbekistan increased 16 percent from 2017 to 2018, according to the U.S. Energy Information Administration. These countries provided 44 percent of the uranium imported in the U.S. last year. Meanwhile, U.S. mines produced 37 percent less uranium from 2017 to 2018, reaching a record low. Deliveries from Canada and Australia, allied nations whose production is also in steep decline due to the flood of uranium from state-owned companies, declined by 25 percent.