I don't know when the uranium narrative is going to hit the mainstream, but when it does and people wake up to how essential and important uranium is the the world's power supply, the moves this market will be astounding. It is incredible how small the market cap of the uranium sector still is even after this years run up. We have Tesla fluctuating in value by more than the entire mcap of the uranium sector.
The funny thing is that the market is pricing in that Tesla will be successful and EVs will be rolled out on a mass scale and if that is the case, where is the additional electricity going to come from? There is a chance this uranium cycle that it gets so out of hand that the extraction of uranium from seawater at a cost of $200/lb, might start to look attractive. It is no coincidence that China is researching into uranium extraction from seawater, because they would still pay $200/lb for uranium if there was no alternative.
I hate making overly bullish posts, but the amount of positive developments and news has exceeded my expectations substantially. I think it is only a matter of time before the market wakes up and we see a huge re-rating of the industry.
Elevate is the company I am most excited about in the industry because it has the best portfolio of uranium assets vs the mcap and has such a vast potential and so much optionality about where to focus efforts. Very excited to see where we end up in 2022/23.
EL8 Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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