Great content as usual. Uranium will require patience, consolidating sideways after long run (and even lower up to 50% if general market drop) My strategy is to hold with long term outlook >3 years. Need to have some positioning as can rip before you get confirmation to position. Keeping cash to take advantage of drop, if any.
I remember when I was highly convicted of uranium. Around 2020 onwards I started adding. Was adding heavily in 2022/2023. I believe at one point URNM was Bens biggest position back in the etoro days. I've sold out a lot of it now. I don't think it's a contra play. It's no longer a 'when, not if' play. It's def not investment to buy something hoping for a moonshot squeeze. Spot is at 80ish, probably going to >100. Maybe >200 in a squeeze. But there's no way to tell. It's simply not the same R/R it was at 20. I now have only small positions in lotus, bannerman & forsys. Why take the risk when you can buy pm miners.
You´re absolutely right. But like Justin said, only contracted 31 million pounds so far for this year. Replacement rate would start at around 180 million pounds and on the other hand no one actually knows what kazatomprom is going to offer us in august. If there is a shortage in production like most experts expect that can cause trouble in the market. There are some question marks left, like smrs and data centers. I´m pretty sure that if the smr projects move forward and getting built on budget/time there cant be a realistic forecast for the additionally demand. I expect an increasing sustainably uranium and lt price, but there are definitely scenarios where in the meantime a squeeze can happen
Tech Analysis see it Uranium could fall under 64$, we are in a technical down trend. That could mean a bloodbath. What is your opinion according to the chart?
