Though this interview was originally recorded on February the 24th it still provides great insights on how Mike views the uranium sector and where the uranium price is going.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
Thank you Mike and James for a very detailed discussion on the supply demand economics of uranium. You only need to listen to this once to understand the enormity of what's to come.
Thanks for the comment and for taking the time to view our content! Agreed, no better long-term trade then uranium and Mike lays out a comprehensive thesis as to why.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
Thanks Macca! As a reminder, this interview was from our last uranium conference which was held in February but the discussion serves as a good reminder why we should stay long the trade.
@@AncientSionX this interview has been available on the full-length conference video since the release on Feb 24. Sometimes we will re-release individual videos in the ensuing weeks and months depending on the content. Mike's comments provide a great overview of why someone should get involved in the uranium trade and this content will still be relevant a year from now.
Hi Jimmy. Thanks for once again, a great interview that gets in-depth into the topic. Another great guest/s could be Adam and Leigh from G&R, for all things commodities.
Unenriched uranium is useful if your country has a heavy water reactor. Enriched U 235 at 2% to 3% is useful if your country has a light water reactor. PU 239 is VERY USEFUL if you have a BREST reactor and-or BFMSR reactor for it is 50 times more energetic and can convert depleted U 238 which is useless into useful PU 239 if these two reactors were engineered also to become breeder reactors. PU 239 used in either of these two reactors can turn Thorium into U 233 which in turn can be used in a light water breeder reactor where the nuclear fuel U 233 can convert the Thorium into additional U 233 nuclear fuel. The passive self-cooling BREST reactor uses lead as a coolant and the natural convection process without any need of circulation pumps and-or BFMSR reactor uses beryllium fluoride as a fuel carrier and moderator and neutron reflector and neutron doubler and multiplier and can recycle their nuclear fuel indefinitely and consume their own nuclear wastes which solves the problems with nuclear wastes storage while breeding new additional PU 239 to start up additional new BREST reactors and-or BFMSR reactors. The light water reactors needs to have a fuel reprocessing facility(ies) in order to recycle their nuclear fuel into new nuclear fuel. All new reactors that NEGATIVE TEMPERATURE COEFFICIENT OF REACTIVITY. The reactor will become more reactive as it gets cooler and less reactive as it gets hotter. This notion of a chain reaction has perhaps been used a number of times to scare people about how nuclear fission reactions really take place in a reactor, as if they are an uncontrolled expansion of the number of fission events. That's not really what happens in a reactor.
One other comment that I find totally interesting that Mike said. He said that fuel buyers are in the market every 5 to 6 years, that means they have zero clue over that period about the supply and demand scenario until they have to restock. And when they are being given data from UXE that is under accounting for demand, guess what, these guys are going to pay up big time once they bid in the term market (since there is little inventory in the spot market). Mike is "in the market daily" tracking what is going on, fuel buyers are not. Seems fuel buyers have their head in the sand unfortunately. So be it, they will pay up big time when that time comes to replenish current inventories in addition to re-stocking 5 to 6 years out. Tick tock.....
If a motivated retail investor punting around in the market can figure this out, why wouldn't the fuel buyers? I don't quite understand why they wouldn't keep abreast of changes in the market. What am I missing?
@@segasys1339 Fuel buyers answer to a Board of Directors and like Mike says, they are not in the business of being hero's, rather, they are, more or less, of the "herd mentality" so if "Joe" over at XYZ Utility starts buying heavily, (first one out of the gate), then the others will typically follow, with Board approval of course. Institutions act that way, it's part of their DNA.
Thanks for the comment Ron! We were not aware of this RFP so thanks for sharing. Spot keeps ticking higher but we are getting less and less intel on what's happening in the term market.
hey bloor street, uploading old interviews without a date, effectively passing them off as new, causing misinformation to investors to pump stocks you own is a criminal offense & you could be sued for losses incurred by listeners as a result of your actions.
Thanks for the comment Digger 99 and we totally understand. Unless you have an interest in investing and uranium this interview and channel would not be for you.
