#Uranium Market Update in a nutshell #U3O8 continues to be a best performing commodity of 2020, up 25% YTD, up 69% from its bottom in November 2016. #Nuclear power growth remains robust Demand at 182M lbs/yr & rising, Supply deficit ~60M lbs, -317M lbs by 2026

#Uranium has strong #bullish outlook #Nuclear utility contracting has been below normal for past 8 yrs. Re-stocking cycle overdue with growing uncovered demand & delayed Long-term contracting since 2012.

With such strong #Uranium supply/demand fundamentals, why is #U3O8 market rebalance taking so long? Trade Issues, Russian Suspension Agreement, #COVID19 have sidelined #nuclear utilities BUT trade issues nearing resolution, utilities getting back to work, #China going all-in

Secondary Supplies have been holding back #Uranium price response. But inventory drawdown has accelerated, #Japan restarts coming, Kazatomprom has abandoned Spot #U3O8 market sales, Carry trades harder to execute. #Nuclear getting #CarbonFree #GreenEnergy & #SMR boost.

With #Uranium mines shutting down in #Niger & #Australia next year, while #Nuclear fuel demand rises there is a growing "Market Appetite" for new #U3O8 mines to fill supply gap. But, U price too low to stimulate new production... needs to double to bring new mines online