Thank you so much. Have a wonderful Easter.

John, if you don't mind, what is the latest spot SWU number?

No worries. Thank you

John, any preliminary news out of that conference?

I like that bingo card. We are all wondering what it will be filled with.

US utilities are obviously concerned. However, what does this mean for those shipping any form of uranium into the US for conversion, enrichment, or fabrication?

Under these conditions the market doesn't care. Then one day you wake up and it's a crisis.

While no one can deny the absence of both positive sentiment for shares and purchaser demand in spot and term markets, the problem is that the current situation exacerbates a shortage of #uranium supply.

Thank you for sharing. Listening to EU's call yesterday, it seems that the approach is no longer expansion, but sustainable production. Producers will ramp more slowly, and that gap in the charts between supply and demand gets bigger.

I think they could've done a lot more to reaffirm their value over volume strategy. They are most closely linked to the spot price and will absorb most of the hit of 40%⬇️ since $106 recent peak.

Thank you to John Quakes for posting this from X. He has been very helpful in putting my posts here.

Thanks for sharing. What is interesting is how the solution for increasing production is a calciner, which in turn would mean that Inkai's production could then be shipped to China, skipping the Transacaspian. The West would lose access to more uranium.

You sure utilities are contracting as February saw close to nothing.

John, is there any way this demand can be met?

As per the article, the local governor has to approve the project, and he has given no timeline whatsoever. Something is wrong in Japan when such a person can decide to postpone a decision indefinitely.

The quote from Cameco's CC is that utilities have signed for less than 40% of their #uranium needs to 2040, and there remains 2.1 billion lbs unsigned. If the 2.1 billion is 60%, than that's total demand of 3.5 billion lbs, or on average 233 million lbs per year to 2040.

India is second to China in NPPs under construction (7 vs 29).

The demand wave from this growth has yet to filter through to the uranium market, but it's coming.