In Australia overnight there were big moves in the uranium sector: Alligator Energy (+17.7%), Lotus (+16.2%), Bannerman (+12.6%), Deep Yellow (+12.5%), Paladin Energy (+8.4%).
The crazies like Kuppy and Quoth the Raven host Chris Irons have been pumping the fuel for ever. Maybe it's time to go long.
The story is quite clear: relying on intermittent sources like wind and solar for electricity is not going to work. Although nuclear fusion might eventually save humanity, nobody has yet produced even a prototype that can generate more energy than it consumes. Conventional (fission) nuclear power has been around for seventy years, and can be made arbitrarily safe, but it does need uranium as fuel. The problem with this story is that it has been true for several decades during which time uranium prices have gone nowhere.
An added complication is that Kazatomprom has the biggest resources, but Kazakhstan is just a client state of Russia, and so it's probably not going to be exporting much to the west for some time. This has to be positive for Australian and Canadian miners.
Well, I've probably missed something. Please chip in to tell me what it is.
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