Commodities: Uranium
Hi All,
Your analysis of the tariffs this week has been really valuable. I liked that you kept reminding us to look beyond the headlines.
My question relates to Uranium. I am wondering if the push to greater manufacturing in the US and presumably other high-cost locations as tariffs bite is a positive for AI because it has the capacity to reduce labour costs. Does this make sense? If so, does that bode well for Uranium?
Thanks team for your continued great coverage of the Mkt and your openness with your info, data & answers. Much appreciated.
Really like your latest regular piece on etf’s. They’re such a topical element of the Mkt.
Dear James and Team,
PDN –11.58%: Released more detail around the extreme weather event impacting operations at their Langer-Heinrich uranium facility. The rains are now being called a 1-in-50 year event and as a result production guidance for FY25 has been withdrawn.
PDN -3.95%: announced today that production has been suspended at their Namibian operation due to heavy unseasonal rain – these weather events occur once in about every 5 years in Namibia – it’s typically a very dry climate.
Good Morning, I’ve been ever so patient with Uranium equities, both on the ASX and North America, albeit with my heart in my mouth most of the time. General consensus seems to be that it could take years for these stocks to recover, if not move higher from there. Surely the utilities are going to start buying at these extremely low spot prices? How do you think uranium stocks might perform in the near-term (ie) the next 12 months or so?
PDN –4.39%: Released 1H25 results that were largely in line with market expectations; net neutral as other names in the sector were sold down in a similar fashion amid uranium spot price weakness.
Hi There
SLX –5.93% released its 1H25 result (net loss of $18.1m) however more importantly, we were expecting results from the uranium enrichment trials at a Test Loop pilot facility in the US. The company running this is Global Laser Enrichment (GLE), which is a joint venture comprising Silex (51%) and Cameco (49%).
