High Grading- Low hanging fruit!

A few suggesting U308 price will drop due to expansion of cheap ISR in Kazakstan may need to look at history. Gold, Iron ore, Copper or our favorite u308 mines always target the richest and easiest (Cheapest to get to) first.

Boss DFS displays this well

Table 10: Production Schedule for EFS
Production (Mlbs)
Year TOTAL (Mlbs) Measured & Indicated Inferred & Unclassified
1 0.85 0.85 -
2 1.63 1.56 0.07
3 2.45 2.34 0.11
4 2.45 2.28 0.17
5 2.33 1.69 0.64
6 2.40 1.70 0.70
7 2.43 1.72 0.71
8 2.40 1.49 0.91
9 2.10 1.08 1.02
10 1.70 1.07 0.63
11 1.07 0.64 0.43
TOTAL 21.81 16.42 5.39
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Kazatomprom uranium will ramp up as is Cameco. All do it the easy stuff first!

Why this is relevant is despite restarts and expansion the rate of supply increase is not in balance adding the Squeeze!
UXC at Redcloud conference uranium forecast for 2023 has jumped again! Low case 195 million pounds and 207 million pounds High estimate!
Net growth forecasted 30% from 2023 to 2035.
Price movement 311% price increase from 2016 all ready.

On the bugger side is a stuff up in SMR area.

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UAMPS and NuScale Power Terminate SMR Nuclear Project

Utah Associated Municipal Power Systems (UAMPS) and NuScale Power Corp. (NuScale) have mutually agreed to terminate the Carbon Free Power Project (CFPP), a small modular reactor (SMR) project that was planned for construction on Idaho National Laboratory (INL) property near Idaho Falls, Idaho.

“Despite significant efforts by both parties to advance the CFPP, it appears unlikely that the project will have enough subscription to continue toward deployment. Therefore, UAMPS and NuScale have mutually determined that ending the project is the most prudent decision for both parties,” the developers said in an announcement issued on Nov. 8.

UAMPS is a political subdivision of the State of Utah that provides comprehensive wholesale electric-energy, transmission, and other energy services, on a nonprofit basis, to community-owned power systems throughout the Intermountain West, including in Utah, California, Idaho, Nevada, New Mexico, Oregon, and Wyoming. The CFPP was a major project for UAMPS. At one point in time, it was envisioned to be a 720-MWe power plant comprised of 12 NuScale SMR power modules. As time progressed and member subscriptions for plant production lagged expectations, the project was scaled back to six modules with a combined capacity of 462 MWe

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