Justin Huhn – Nuclear Fuels Demand And Supply Factors – Pro Tips On Investing In Uranium Stocks

Justin Huhn, Founder and Publisher of the Uranium Insider, joins me for another comprehensive macro update on the supply and demand fundamentals for uranium and the nuclear fuel sector, how the longer-term contracting cycle is setting up, and then what he is watching and how he is positioning in the uranium equities.


We start off reviewing the growth in both new nuclear reactors and life extensions on existing reactors in the recent past and looking forward outpacing expectations in China, the UAE, France, other countries in Europe, and even in the US.  We also get into demand and supply fundamentals for the nuclear fuel cycle for enriched uranium fuel and enrichment & processing bottlenecks for end users and utility companies due to the recent sanctions placed on Russian supplies.  However these sanctions, in tandem with the money allocated in the Inflation Reduction Act for growing domestic processing and enrichment capabilities, along with more U308 supplies from domestic uranium mining companies will be a net longer-term positive after the shorter term hurtles.


Justin then breaks down what we know about the past and forward guidance for largest producers like Kazatomprom, Cameco (CCO.V) (CCJ), and Orano.  He also reviews the US-based producers that are projected to add in more production over the next few years like enCore Energy (EU.V) (EU), Energy Fuels (EFR.TO) (UUUU), Ur-Energy (URE.TO) (URG), Peninsula Energy (PEN.AX) (PENMF), and Uranium Energy Corp (UEC).   We then get into the concept of what percentage of production these uranium producers should be committed to longer-term off-take contracts, between the utilities and the uranium mining companies, for the overall health of the uranium companies if they have locked in much higher prices for uranium sales contracts years into the future. This also lead into a review of the recent transaction from NexGen Energy (NXE) where they are purchasing 2.7 million pounds of uranium to demonstrate to any potential off-take partners more assurity of future supply until they could get Arrow into production. 


We wrap up by getting Justin’s thoughts on where we are with the moves in uranium exploration stocks, operating in both the US and in Canada, and where the biggest opportunities are from his vantage point. He feels the discovery that F3 Uranium Corp. (FUU.V) (OTCQB: FUUFF) made last year ignited a whole new wave of exploration in the Athabasca Basin. This leads into a discussion of whether we’ll see some of the higher-valued more advanced companies that are either near production or going back into production begin to start acquiring more of the earlier- stage uranium explorers and developers.




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    May 17, 2024 17:33 PM

    OOPs……………….. $2414.40……………. ya know…. like duh….

      May 17, 2024 17:50 PM

      +2417.40 on the weekly close today on gold futures. Double-duh… 😉

        May 17, 2024 17:06 PM

        What do they call that … a long tail… at $2448……. 🙂
        No close at $2448… ?

        I am taking up … charting… lol…

          May 17, 2024 17:11 PM

          Gold will become the tail that wags the dog soon…

    May 17, 2024 17:03 PM

    GOT GOLD>…………………… FREAKY FRIDAY……………….. 🙂

    Hezbollah Launches First-Ever Airstrike On Israeli Territory
    Tyler Durden’s Photo
    FRIDAY, MAY 17, 2024 – 07:40 PM
    Via The Cradle

    Hezbollah launched the first-ever Lebanese airstrike on an Israeli target on Friday, using a never-before-seen drone for the operation.

    “In support of our steadfast Palestinian people in the Gaza Strip and in support of their brave and honorable resistance, the Islamic Resistance attacked at 1:38 pm on Thursday the Metulla site, its garrison, and its vehicles with an offensive drone armed with two S5 missiles,” Hezbollah said in a statement Thursday afternoon, marking the sixth of 13 operations that day.

    May 17, 2024 17:15 PM

    Biden Signs the Ban on Russian Uranium: The 90-Day Countdown Begins Now
    US Takes Bold Step to Secure Energy Independence Amid Ongoing Global Tensions

    Junior Stocks Editor (JSE) – May 13, 2024

    “President Joe Biden’s recent legislation banning the import of Russian enriched uranium marks a significant pivot in US energy policy. With the ban set to take effect after a 90-day countdown, this move aims to bolster domestic uranium supplies while phasing out dependency on Russian imports. This decision, intertwined with geopolitical tensions and economic ramifications, has stirred both concern and cautious optimism within the energy sector.”

    “On Monday, President Biden signed a pivotal piece of legislation that bans the import of Russian enriched uranium. This law initiates a 90-day countdown until the ban takes effect, marking a strategic effort to enhance the US’s domestic uranium capabilities. Additionally, the legislation unlocks approximately $2.7 billion in spending previously authorized by Congress to support the domestic uranium industry.”

      May 17, 2024 17:18 PM

      US to Start $3.4 Billion Buy-Up of Domestic Nuclear Reactor Fuel

      – Funding unlocked after ban on Russian imports enacted
      – Aid to help restart dormant domestic nuclear fuel industry

      By Ari Natter – Bloomberg – May 16, 2024

      “The US will ask suppliers next month to bid on contracts for as much as $3.4 billion of domestically produced nuclear reactor fuel, according to a government notice.”

      “Around $2.7 billion of the funding comes from a broader plan to wean the nation off nuclear fuel imported from Russia and forms part of a strategy to help restart domestic nuclear fuel production by making direct purchases of the low-enriched uranium used in reactors. That cash was unlocked after President Joe Biden signed a ban on imports of enriched uranium from Russia, which provides about a quarter of the reactor fuel in the US, making it the country’s top supplier.”

      Domestic uranium mining companies could see a benefit from the funding as well, said Scott Melbye, president of the Uranium Producers of America, which represents such companies as Cameco Corp., Energy Fuels, Inc., Ur-Energy, Inc., and Uranium Energy Corp.

      “US enrichment is going to favor and support western sources of uranium, so any sort of expansion of western enrichment over Russian enrichment is good for our business,” Melbye said in an interview.

    May 17, 2024 17:38 PM

    FYI, Justin’s 44 minute video for Uranium Insider subscribers after Friday’s market close deemed it a bellwether day for uranium equities!

      May 20, 2024 20:19 AM

      Nice! Thanks for that update Kevin.

      Yes, after we got done recording, Justin and I were reviewing the charts in the uranium stocks and ETFs, and we were discussing the head & shoulders pattern on URA and URNM where they were starting to break out of that to the upside and so the trading and pricing action the end of last week was quite significant.