Sean Brodrick – Investing Outlook For Stocks In Uranium, Gold, Oil, Artificial Intelligence, Defense, And Cybersecurity

Sean Brodrick, Editor of Wealth Megatrends and contributing analyst to Weiss Ratings Daily, joins us to discuss how he’s managing his portfolio with regards to equities exposed to uranium, gold, oil, artificial intelligence, defense, and cybersecurity. 


Sean is very animated by the megatrend unfolding in nuclear energy and the uranium equities, noting the recent moves in Cameco (CCJ) (CCO.TO) on reduced production but higher share prices, but also pointing to some new supply coming online in the US from Uranium Energy Corp (UEC) and enCore Energy (EU).  The other megatrend that Sean outlines is the many new growth areas for  A.I. stocks and related applications.  Conversely, Sean points out that gold stocks and oil stocks continue to underperform, in lieu of all the macro and geopolitical events coming at markets, and that these commodity sectors continue to confound investors.




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    Jan 16, 2024 16:25 PM

    (UEC) Uranium Energy Corp Restarting 100% Unhedged Uranium Production in Wyoming

    16 Jan 2024

    “Uranium Energy Corp (NYSE American: UEC), is pleased to announce that the Company’s Board of Directors has approved restarting uranium production at its fully permitted, and past producing, Christensen Ranch In-Situ Recovery (ISR) operations in Wyoming. The recovered uranium will be processed at the fully operational Irigaray Central Processing Plant (“CPP”) with a current licensed capacity of 2.5 million pounds U3O8 per year. The Irigaray CPP is the hub central to four fully permitted ISR projects in the Powder River Basin of Wyoming, including Christensen Ranch.”

    “The first production is expected during August of this year and will be funded with existing cash on the Company’s balance sheet. As UEC’s strategy has been to remain 100% unhedged, produced uranium will be sold at prevailing spot market prices which was $106 per pound U3O8 as of January 15, 2024 as reported by UxC.”

      Jan 16, 2024 16:32 PM

      (EU) enCore Energy Provides 2023 Year End Letter

      22 Dec 2023

      “We end the year with one of our most significant milestones, the restart of uranium production at the Rosita CPP, accomplished 20 months after its renovation commenced. Production at the Rosita CPP marks the first production in Texas in over a decade. We then wrapped up the year with the announcement of our US$70 million transaction for a 70/30 joint venture (“JV”) on the Alta Mesa ISR Uranium Project and CPP with Boss Energy Ltd. (“Boss”). The arrangement with Boss as a 30% minority partner on only one of our production assets allows us to use the proceeds of $60 million US to aggressively advance project timelines across the Company.”

      “Since 2021, enCore has entered into four uranium sales agreements with the most recent announced in February 2023. We continue to see utilities in the United States looking to domestic uranium producers as a means to mitigate the supply chain risks resulting from continuing geopolitical uncertainty. Because of our demonstrated results, strong management team, and multiple production sources with minimal permitting risk, we are considered a “go to” supplier as nuclear utilities navigate the changing uranium market. enCore is committed to building a balanced portfolio of sales contracts with a portion of its production in defined agreements to ensure stability of operations while retaining a significant portion of production set aside to ensure participation in the upside of a rising spot market.”

      “We also delivered our first uranium into one of the uranium sales agreements. This delivery of 200,000 pounds U3O8 represents the first portion of the annual deliveries into the 5-year agreement that covers 2 million pounds of uranium with significant delivery flexibility for market related pricing. We successfully acquired uranium under favorable pricing terms in 2022 from a third party and delivered it into this agreement in 2023 using current spot market pricing indicators to establish the sales price well above our purchase price.”

    Jan 16, 2024 16:16 PM

    Source: Handbook of Robotics, 56th Edition, 2058 A.D.

    o The First Law: A robot may not injure a human being or, through inaction, allow a human being to come to harm.
    o The Second Law: A robot must obey the orders given it by human beings except where such orders would conflict with the First Law.
    o The Third Law: A robot must protect its own existence as long as such protection does not conflict with the First or Second Law.

      Jan 16, 2024 16:37 PM

      I Robot… a classic…

    Jan 16, 2024 16:36 PM

    Another good interview. Thanks.

      Jan 16, 2024 16:37 PM

      Sean is a sharp guy… and a hoot…

    Jan 16, 2024 16:13 PM

    (DV) (DOLLF) Dolly Varden Silver Intersects 93.95 m of 357 g/t AgEq Including 9,422 g/t AgEq over 1.02m Expanding Homestake Silver High-Grade Trend

    16 Jan 2024

    > HR23-419: Mineralized envelope: 315 g/t AgEq (2.57 g/t Au and 102 g/t Ag) over 79.20 meters, including internal breccia vein intervals grading 1,508 g/t AgEq (9.53 g/t Au and 718 g/t Ag) over 9.22 meters length, 7,572 g/t AgEq (36.66 g/t Au and 4,533 g/t Ag) over 1.05 meters.

    > HR23-416 Mineralized envelope: 357 g/t AgEq (1.74 g/t Au, 213 g/t Ag) over 93.95 meters length, including internal breccia vein intervals grading 2,802 g/t AgEq (11.80 g/t Au and 1,824 g/t Ag) over 9.16 meters length, 4,176 g/t AgEq (13.16 g/t Au and 3,085 g/t Ag) over 2.26 meters and 9,422 g/t AgEq (55.40 g/t Au and 4,830 g/t Ag) over 1.02 meters.

    > HR23-415: Mineralized envelope: 630 g/t AgEq (5.11 g/t Au and 206 g/t Ag) over 22.80 meters, including internal breccia vein intervals grading 1,754 g/t AgEq (14.38 g/t Au and 562 g/t Ag) over 6.80 meters length, 4,617 g/t AgEq (43.40 g/t Au and 1,020 g/t Ag) over 0.88 meters.

    > HR23-413: Mineralized envelope: 226 g/t AgEq (1.40 g/t Au and 110 g/t Ag) over 40.00 meters, including internal breccia vein intervals grading 668 g/t AgEq (3.05 g/t Au and 415 g/t Ag) over 3.96 meters, 1,998 g/t AgEq (6.49 g/t Au and 1,460 g/t Ag) over 0.63 meters.

    > HR23-407: Mineralized envelope: 246 g/t AgEq (2.32 g/t Au and 54 g/t Ag) over 55.90 meters length, including internal breccia vein intervals grading 932 g/t AgEq (8.94 g/t Au and 191 g/t Ag) over 10.72 meters length, 2,149 g/t AgEq (24.38 g/t Au and 129 g/t Ag) over 0.57 meters and 1,883 g/t AgEq (17.78 g/t Au and 410 g/t Ag) over 2.20 meters.

    Jan 16, 2024 16:26 PM

    As for the #Uranium stocks, in general, most of the key companies have been surging higher for 9-10 months since bottoming in the March-April 2023 timeframe.


    Here’s a 12 month candleglance #chart for a dozen of the more popular uranium equities.
    It’s been a ripper of a rally for sure in the U-stocks…

      Jan 17, 2024 17:07 AM

      One observation when we talk with folks about the Uranium stocks off-mic or in interviews, is that almost everyone points to just how well Cameco has done, and keep saying it’s outperformed the other uranium stocks and has lead the rally. (??)

      While CCJ has absolutely done well, and essentially doubled off the March 2023 lows in the intermediate term (which is fantastic)… Do people just not realize that yeah, but so did a huge swath of the other U stocks?

      Even the ETFs URNM and URNJ have almost doubled off their March 2023 lows, and they are diversified baskets of 30-40 uranium stocks. For example, every other stock on that candleglance chart linked above (with the exception of Energy Fuels) has also essentially doubled or more off their lows last year. Even UUUU did make a huge break higher, but it peaked earlier than most other uranium equities and then pulled back more to consolidate in a channel. It had really run big in prior years though, and outperformed the pack during other key rally periods, so maybe it was just more richly valued sooner and then found gravity after the fact.

      So while much fanfare has been made about Cameco’s move…. and it sure deserves some fanfare because it is a larger cap senior producer, that has been moving like a junior in pricing gains…. What we’ve seen in it has simply been par for the course in uranium equities. What it really comes down to is awareness, and the reality that most investors did not have a basket of uranium stocks the last few years, or they’d have been much more clued in to the big moves the sector has been having since the March 2020 pandemic crash, and a more durable longer-term rally (that of course had corrective periods… but a larger uptrend pattern has ensued for years now).

      The point is that this move in Uranium equities hasn’t been isolated to or even lead by Cameco… which is sometimes the impression a number of folks give me when they talk about the sector. (not Sean in this interview… because he was flagging Cameco for different reasons and made a great point about them cutting output and then going up in share price as the commodity supply got even tighter).

      I think there are just a lot of folks that don’t really follow the uranium equities or even the ETFs like URNM or URNJ, and just see it all through the eyes of Cameco, because that’s the only stock they’ve heard of or follow in the sector. This can be misleading as there were plenty of other prior multi-month rallies for many years, that saw the smaller and medium U-stocks dramatically outperform Cameco (to the upside and downside).

      Viewing everything through the Cameco lens is more akin to seeing the whole gold equities space through the prism of price moves in Newmont or Barrick (which is a myopic and at times flawed approach) When looking at the very largest seniors and sector leaders price action, sure it may generally correlate with the biggest trends, but using them as one’s sole barometer is not always reflection of what we have been seeing across the market depth of other gold producers… over periods of serious rallies or declines…. especially in the small and medium-sized producers, (much less the developers or explorers).

      It’s like when so many silver investor were viewing the health of the silver equites the last 2 years strictly by extrapolating out First Majestic to the whole silver stock arena. That was flawed thinking or sentiment, because AG greatly underperformed most of the silver stocks for legitimate fundamental reasons and concerns (labor strikes, Mexican tax issues, buying a gold mine in Nevada Jerritt Canyon and then failing to execute anywhere close to plan).

      The point is that any investors in the uranium stocks could have almost been a dart-thrower, versus a stock picker as far as grabbing any number of legit U-stock positions, and still seen moves every bit as epic at Cameco’s journey, and often times with more torque.

      Anyone that spent just a little time researching the sector over the last 4 years and positioning a combination of the 2 dozen or so genuine development-stage, advanced explorers, or near-term producers or small producers within the Uranium stocks could have had multi-bagger returns.

      Heck, even those positioning into last years spring correction from let’s say anywhere from late Feb – early May (even if they didn’t nail the exact bottom) could have gotten positioned and at least seen a 50%-100% gain in their U-stocks over the last year. There was such a margin for success, that even just positioning anywhere from mid 2022 to mid 2023 would have still generated some nice double-digit profits, in an otherwise tough resource sector that hasn’t been giving up many other gains during that same time period.

      This is the value in having a diversified portfolio to different commodities and stages of mining stocks. We saw a similar pattern play out in Lithium from 2020 to 2021-2022, or copper stocks in early 2021 or 2022, or palladium stocks during that same time period. Or look at the blistering rally seen in Oil and Nat Gas stocks from 2020 into mid 2022.

      We’ve said on here for years that commodities are like a game of Whack-A-Mole and that one pops and drops, then another pops and drops, and then another… and so on. Most of the time for decades now the cyclical commodities and even more so in the volatile resource stocks, are trades… that have their season in the sun…. and not buy and hold forever stocks being held for decades like one would blue chip stocks on the DOW or the largest S&P or Nasdaq stocks.

      Look people should know that I love the precious metals equities, and am very overweight to them at present and have been for well over a year now. Having said that, there have clearly been a number of other rallies in the resource stocks in other commodities that have presented fantastic opportunities for the last few years (copper, palladium, oil, lithium, uranium). I was in those trends as well, because it was clear those markets had their own unique fundamentals and their own unique technical breakouts and momentum.

      Not having diversification in one’s portfolio, or strictly camping out in the vast majority of PM stocks that whole time, over the last few years, was not an ideal plan. There is so much more to the resource stock universe than just what happens in gold stocks, and yet for some folks that is the only game they ever play. Luckily for all PM investors, 2024 and 2025 are likely going to be years where the gold and silver stocks finally get their moment in the sun.

    Jan 17, 2024 17:14 AM

    The herd is back for the last two days they have been swirling around Aston Bay Holdings, it always starts with a rumor, this time the herd heard that a zinc smelter was closing somewhere in The Netherlands around the middle of January, the details don’t matter the action does. Go figure why Aston Bay, is it because they like the symbol BAY, maybe it reminds them of The Bay Street boys. Aston Bay has been one of those stocks that the stampede has hit before. Aston Bay has a joint venture on a property in Nunavut on an island near the Northwest passage that was drilled in the past by Teck and maybe BHP as well. It has some zinc and copper occurrences, it should be a 3-cent stock, however it has been pushed up by 70% in the last two days. But the herd doesn’t do any Due Diligence they show up unexpectedly and start buying micro penny juniors, pumping them like crazy and then turning suddenly and moving towards another opportunity. It is a phenomenon. What is the chance for this stock to move up for three days in a row, probably about 2% in normal times but these aren’t normal times.

    You also must also ask yourself why didn’t they pick a penny stock like Santacruz that is in production with zinc credits. The reason is simple it doesn’t matter, Stay Tuned! LOL! Please don’t take this as investment advice, I just find it suits my trading style. DT

    Jan 17, 2024 17:37 AM

    All MondayTuesday gains wiped out and back to all-time low. The criminals must be really in trouble or staying with their theft Agenda.

    A lot of good news wasted again.

      Jan 17, 2024 17:50 AM

      There is usually no change from the “opening algo”, so done for today and going to take the dog to the Vet for his annual check-up. Might as well do something productive.

      Jan 17, 2024 17:16 PM

      If only you knew how important this weakness is. I said last Thursday that I hope the miners go lower into this week and it’s for very good reason. If everything had just kept on rising after Friday’s pop you would’ve been happy but the upside in that situation would’ve been a fraction of what is setting up now. This week has gone perfectly so far and we stand to gain a bull market for the record books if it continues. Yes it’s all about this week. This isn’t random in the slightest. Instead of the typical “intermediate” move delivering 40-50 percent gains we are now looking at fireworks lasting many months to a year. But the week’s not over. To avoid jinxing the setup I’m not going to say what we need from the miners tomorrow or the next day.
      If the banksters caused this timely weakness then I thank them.

    Jan 17, 2024 17:34 AM

    When a particular market goes in the opposite direction from what should be the case as pointed out below by the poster, Sean, it’s not a good sign for bagholders already fully invested.
    Same with the fact of a recent reversal in dollar and TBills to the upside which is yet to show any short term reversal and move opposite to these commodities.
    ‘Conversely, Sean points out that gold stocks and oil stocks continue to underperform, in lieu of all the macro and geopolitical events coming out markets, and that these commodity sectors continue to confound investors’.
    Lots of bargains for those with cash, with no immediate rush to wade in

    Jan 17, 2024 17:13 AM

    The Eye-Popping Interest Payment Spike On Our National Debt

    By Spencer Lindquist • Daily Wire – Jan 17, 2024

    “The combined net worth of the most prominent billionaires in the United States would not be enough to pay a single year’s interest payment on America’s ballooning national debt, which currently stands at an astonishing $34 trillion.”

    “The combined net worth of some of America’s most prominent billionaires, Elon Musk, Jeff Bezos, Mark Zuckerberg, Bill Gates, Ken Griffin, Mark Cuban, Ray Dalio, and George Soros, adds up to approximately $726 billion according to data compiled by the Bloomberg Billionaires Index. Meanwhile, the net interest on our national debt is currently at $730.8 billion, dwarfing the sum for previous years.”

    “Interest payments on the United State’s national debt have risen sharply in recent years and remain on track to continue increasing. Net interest payments on the national debt hit a whopping $659 billion in fiscal year 2023, marking a massive 39% jump from 2022, when the government paid $475 billion in interest on the national debt.”

    “The comparison signifies that increased taxation suggested by Democrats isn’t a viable path towards erasing the national debt, especially as interest payments pile up. The United States collected $4.4 trillion in federal taxes in fiscal year 2023, up from $4.19 trillion in fiscal year 2022, yet the debt increased by more than $2 trillion…”

      Jan 17, 2024 17:20 PM

      The question is and has been, “How long are the citizens going to allow theft of the US Treasury without their Legal Regulators doing anything.” The follow on question is “How long are the citizens going to allow their Political Representatives to do nothing about the Criminal Acts of their peers, associates and The Fed and Corporate cronies”. There is no party or candidate that represents the people by highlighting the thefts, bought public officials, misuse of government funds, extortion, collusion, conspiracy, Citizens United, banking regulations, Accounting changes, lack of audit, protected elite, too big to fail …nothing. Just silence … and the people just keep falling for diversions, hate, bigotry, religious fervor, and all the ink that muddies the water to cover the on-going thefts and destruction of the country economically. As criminals always say “Some other Dude did it” We know who the Criminals are and the country is lost if prosecution is ignored at all costs. Start with audit of the Federal Reserve, Wall Street Banks and the Exchange Stabilization Funds and you will find so many “defendants” you will need a task force from every state to handle all the trials.

      Jan 18, 2024 18:17 AM

      Eye Popping…………………………. I bet the debt goes another $50 TRILLION…..

    Jan 17, 2024 17:25 AM

    weekly /GC target lies ahead……1945 to 1930 zone on FEB future contract…could be the next new low in a bull run…or not…glta

    Jan 17, 2024 17:46 PM

    Just saw the results on the “Golden Bib” stock picking contest…

    I came in 6th place out of 194 contestants… but unfortunately I did not win the dinner prize. Oh well, congrats to the winner, and it looks the rest of us are stuck buying our own dinners. 🙂

      Jan 17, 2024 17:19 PM

      I see that Sir…..Nice work…..Also,I have seen your charts and they are significant and to the point…..

      i like to use slow stochastic on the say 60 and 120 ect …charts as a trigger out of an oversold situation…With /NG and /GC as you know, those signals occur near days end before the next day big pop and run…I only use a small position on those and add quicly in the first 30 minutes if the pop occurs….GDXU will still earn you 8 or 10% of the total 13 to 16% pop…For a guy like me….Actually holding through a real long run will be tough…GLTA plus Ex….

        Jan 17, 2024 17:01 PM

        Thanks for those comments Larry. Yeah I like to keep my charts more simple, and mostly use 50 EMA, 200 EMA, (or sometimes Fib EMAs 21, 34, 55, 89, 144, 233), zones of lateral price support/resistance off prior peaks and troughs, and then look for confirming oversold/overbought signals on the RSI, Slow Stochastics, TSI, Kama, CCI, TRIX, ADX, and MACD.

        Sometimes I’ll look at trendlines, or chart patterns, or candlestick patterns, or bollinger bands or kelter channels, etc… but I don’t like too much else going on or too many layers visually to where it gets convoluted, messy, and distracting.

        Yeah Nat Gas is such a wild commodity to trade, and the reversals and momentum moves can be sudden and jarring for sure. One needs to be nimble, quick, and decisive to get in and out on swing trades or position trades in the widow maker unscathed.

    Jan 18, 2024 18:21 AM

    Soft Landing? Initial Jobless Claims Plunges Near 54-Year-Low……………… LOL……..

    Jan 18, 2024 18:36 AM

    Just a WAG, but split up/down open but in red. Expect it to work lower during day, and continue downward track initiated in Jan 2022.

    Jan 18, 2024 18:47 AM

    Platinum and Palladium….. back to $20 separation….
    Anybody watching these?

    EV’s are slowing down… Ford and GM, having a hard time selling the expensive EV’s….

      Jan 18, 2024 18:52 AM

      Gold smile………. 🙂 INDIA …. is on the rise….

    Jan 18, 2024 18:09 AM

    EV’s are garbage, the auto wrecker and the repo dealer will want you to pay up to haul them away. Try selling one after it’s been driven for 3 years, and it needs a new battery. This cold winter will wreak havoc on EV’S. It’s much cheaper to buy a boomer buggy if you live in Florida! DT 😉

      Jan 18, 2024 18:29 AM

      Ditto DT……….. I read , where someone was replacing a battery for $60,000… and the car was valued at $60,000…. insurance totaled …
      One big scam on the sheeple….

    Jan 18, 2024 18:11 AM

    EV isn’t the only business model in the World. Some country’s haven’t got control of food and housing for their people, much less EVs. There is increased demand for base metals as there is increased demand for all forms of modernization. The US economy is failing and no longer the basis for World demand that is increasing in those parts of the World that are developing as opposed to draining Country Treasuries covering the malfeasance of their corporations. Precious metals will also have a purpose outside the West as money and not the hinderance to committing Fraud. Charging stations will be built and the Treasury will continue to be stolen … keep an eye on the World and see if it fails to self destruct but rather goes through a new development stage “not controlled” by Western organized corporate crime groups.

      Jan 18, 2024 18:22 AM

      It’s funny how you are always talking about corruption in The Banks, The Fed, and on Wall Street but you miss the biggie which is the military industrial complex and the endless foreign Wars that have drained your country’s treasury more than all the rest you mention combined. What did Afghanistan cost $2.3 Trillion and that is only one of many. Now The US is funding two wars at the same time in different parts of The World not to mention the endless incursions with one country after another going on simultaneously for almost 80 years since the end of World War 11. DT

        Jan 18, 2024 18:38 AM

        There is only one US Treasury. It is the only Treasury that prints money to illegally fund the Banks as well as US and foreign Corporate activities. Go to the source and ignore if there is wall on the border, etc as the issue is transfer of current and future wealth to an unofficial fascist type function. One comprised of corrupt politicians protecting a fraudulent Central Banking system. All the “ying yang” noise is to extend the transfer until fixing the country becomes moot. It is the massive undermining of democracy to foster massive theft. No need to mix social issues as criminals rarely have the welfare of the people as an agenda.

        Jan 18, 2024 18:34 AM

        DT…….. Spot on………” MIC”………. we cover it constantly in the ORPHAN SECTION…. lol.

    Jan 18, 2024 18:38 AM

    another day of chronic underperformance with equities vs gold, which is valiantly holding above 2000. gold will break lower if dollar and 10 treasuries continue with their pop up.
    That will make for an even greater washout for gold sector equities.
    Plenty of time to wade in.

      Jan 18, 2024 18:01 PM

      Like I told Lakedweller above, you have no idea (clearly zip/zero/none) how important this action has been.

        Jan 19, 2024 19:20 AM

        Gold continues to hold its own while underlying equities in a dumpster. Unless gold falls off its perch above 2000 with continued $ strength there should at least be an oversold bounce for an equities trade before months end.
        In the meantime spx ndx etc breaking to new highs in spite of blabber of repeated calls of collapse.

    Jan 18, 2024 18:30 PM

    I just listened to a comversation between Peter Grandich and Andy Schectman on YouTube I think published today. Very informative about Gold, Brics, US arrogance, etc. Probably you can google and find under “A Few Minutes With Peter Grandich and Guest, Andy Schectman”.

    Jan 18, 2024 18:34 PM
    Article: DOJs incestuous relationship with Jamie Dimon

    Jan 19, 2024 19:45 AM

    GDX daily did fill the nov. 14th gap…but i am not seeing a rejection of lower price w volume yet…eg no one is anxious to jump…..on weekly the 26.82 rpice would test higher low trend line possible support…plus a test and volume driven rejection of oct.22 swing low…no idea….it is tough…glta…week gdx