There is a huge difference between being educated and being shrewd. I wouldn't even be surprised if they were negatively correlated. Isaac was an academic for his entire career before joining Cameco; Canadian academics as a whole are renowned for their lack of nous.
Your post describes how things should work in theory, but while theory and practice are theoretically the same, in practice they are different. In a word it could also be described as naive.
But I hope that you're right. And I'm glad that he's taking this approach. I'm just saying Tim Gitzel may have the smarts to play his cards a little closer to his chest.
super bullish Grant Isaac (Cameco) presentation at CIBC, page-9
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