Bearish :) Every $5 spot price over USD$91 lbs cost Cameco $49 +...

Bearish Every $5 spot price over USD$91 lbs cost Cameco $49 + million dollars in negative cash flow. Minute 6:30

This if for the next two years and is Bearish

Why this is small beer for Cameco is just as valid for Boss

The game of Chicken in play right now that Rick Rule points out is why Cameco is cheap now. Supply constraint is via KAP lack of acid and for both KAP and CCJ hundreds of millions in before they can ramp up or even met existing contracts! We are all aware the Nuclear facilities had not secured Long Term contracts for the future over the last two years as KAP and CCJ have closed their books for new contracts

We did one contract at MARKET prices

"Honeymoon Uranium Project, South Australia
• Honeymoon continues to run on time and on budget with project execution proceeding to plan
• Committed expenditure under the Honeymoon re-development program totals A$102M (or 96%)
of the budgeted A$105.4M CAPEX, excluding a A$7.6M contingency
• Significant progress made on project commissioning; These achievements saw Boss pass another
key milestone with production-grade uranium generated during the pre-flushing of the start-up
wells
• The supporting infrastructure is operating to design specifications, including the raw water system,
the 25,000-ton gypsum repository, reagent handling systems and first fills of key reagents
• Boss entered into its first binding sales agreement for the supply of uranium from Honeymoon;
The agreement will see Boss sell 1Mlbs of uranium to a major publicly-listed US power utility over
a seven-year period commencing in 2025 at market-related prices
• A new infill and scout drilling program started at the Jason’s deposit, located ~13km north of the
Honeymoon Mine"





https://youtu.be/67qKUOjaLuo?si=q1bX6gKWbCr8R7NX


Only negative if it is negative is with "Boss has liquid assets of A$429M" significant cash flow 2025 and more BOSS is possibly the mostly likley takeover target in any of the companies I hold. 2025 cash flow at 1 million LBS at current spot assumed at $100 is usd $1,000,000,000 with a lot of zeros after it for a start. Times seven years is a cash flow with a lot of upside and now downside.

I am a bear NOT I was happily buying all week

Off for a long run now. Have a great day.