@yellowbull11.bsky.social
Contrarian investor focused on the uranium 🐂 market. Write ups, interviews and more at ➡️ http://www.patreon.com/contrariancodex
Tweets not investment advice
Tweets not investment advice
BREAKING NEWS Germany drops opposition to #nuclear power
Berlin has signalled to Paris it will no longer block French efforts to ensure nuclear power is treated on par with renewable energy in EU legislation
This is a massively positive development for nuclear power in Europe and #uranium 🇪🇺
Berlin has signalled to Paris it will no longer block French efforts to ensure nuclear power is treated on par with renewable energy in EU legislation
This is a massively positive development for nuclear power in Europe and #uranium 🇪🇺
May 19, 2025 at 10:12 AM
"Restart production was around 3.5 million pounds below what was expected or had been put out on guidance publicly by restarting producers last year" ~Dustin Garrow
Brownfield restarts are the proverbial low hanging fruit as prices go up. What do you think happens to greenfield #uranium pounds?
Brownfield restarts are the proverbial low hanging fruit as prices go up. What do you think happens to greenfield #uranium pounds?
May 13, 2025 at 9:31 AM
"Restart production was around 3.5 million pounds below what was expected or had been put out on guidance publicly by restarting producers last year" ~Dustin Garrow
Brownfield restarts are the proverbial low hanging fruit as prices go up. What do you think happens to greenfield #uranium pounds?
Brownfield restarts are the proverbial low hanging fruit as prices go up. What do you think happens to greenfield #uranium pounds?
This has various important implications for the uranium sector, some more obvious then others and importantly some will likely have a delayed effect.
As has the trade news between the US and China. I discuss all this in a 4-page update that's available for everyone on: patreon.com/contrariancodex
As has the trade news between the US and China. I discuss all this in a 4-page update that's available for everyone on: patreon.com/contrariancodex
May 12, 2025 at 7:27 PM
This has various important implications for the uranium sector, some more obvious then others and importantly some will likely have a delayed effect.
As has the trade news between the US and China. I discuss all this in a 4-page update that's available for everyone on: patreon.com/contrariancodex
As has the trade news between the US and China. I discuss all this in a 4-page update that's available for everyone on: patreon.com/contrariancodex
Sprott has raised $25.55 million through a non-brokered private placement as a massive statement of intent that it does not plan to sell any of the physical #uranium they hold.
For all those who were hoping that those pounds would be released, tough luck.
www.globenewswire.com/news-release...
For all those who were hoping that those pounds would be released, tough luck.
www.globenewswire.com/news-release...
Sprott Physical Uranium Trust Raises US$25.55 Million Through Non-Brokered Private Placement
TORONTO, May 12, 2025 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott”) on behalf of the Sprott Physical Uranium Trust (TSX: U.UN) (TSX: U.U)...
www.globenewswire.com
May 12, 2025 at 11:36 AM
Sprott has raised $25.55 million through a non-brokered private placement as a massive statement of intent that it does not plan to sell any of the physical #uranium they hold.
For all those who were hoping that those pounds would be released, tough luck.
www.globenewswire.com/news-release...
For all those who were hoping that those pounds would be released, tough luck.
www.globenewswire.com/news-release...
The #uranium demand side has been a cascade of bullish news over the past few years
Meanwhile, the supply side has faced one headwind after another. From the largest producers (as below) in the world to smaller developers, supply disruptions remain widespread.
inbusiness.kz/ru/news/krup...
Meanwhile, the supply side has faced one headwind after another. From the largest producers (as below) in the world to smaller developers, supply disruptions remain widespread.
inbusiness.kz/ru/news/krup...
May 12, 2025 at 6:39 AM
The #uranium demand side has been a cascade of bullish news over the past few years
Meanwhile, the supply side has faced one headwind after another. From the largest producers (as below) in the world to smaller developers, supply disruptions remain widespread.
inbusiness.kz/ru/news/krup...
Meanwhile, the supply side has faced one headwind after another. From the largest producers (as below) in the world to smaller developers, supply disruptions remain widespread.
inbusiness.kz/ru/news/krup...
This is massive for the #nuclear power industry and could usher in a new era of real nuclear growth
"The Trump administration is considering several executive orders aimed at speeding up the construction of nuclear power plants to help meet rising electricity demand"
www.nytimes.com/2025/05/09/c...
"The Trump administration is considering several executive orders aimed at speeding up the construction of nuclear power plants to help meet rising electricity demand"
www.nytimes.com/2025/05/09/c...
May 9, 2025 at 8:21 PM
This is massive for the #nuclear power industry and could usher in a new era of real nuclear growth
"The Trump administration is considering several executive orders aimed at speeding up the construction of nuclear power plants to help meet rising electricity demand"
www.nytimes.com/2025/05/09/c...
"The Trump administration is considering several executive orders aimed at speeding up the construction of nuclear power plants to help meet rising electricity demand"
www.nytimes.com/2025/05/09/c...
It's great to see sentiment improving once again and according to my model, we are entering caution again. There is not a lot of noise yet, despite a solid 32% rally for #uranium stocks, so that's a good sign
That and much more in this week's newsletter report, including two new portfolio positions
That and much more in this week's newsletter report, including two new portfolio positions
May 9, 2025 at 1:04 PM
It's great to see sentiment improving once again and according to my model, we are entering caution again. There is not a lot of noise yet, despite a solid 32% rally for #uranium stocks, so that's a good sign
That and much more in this week's newsletter report, including two new portfolio positions
That and much more in this week's newsletter report, including two new portfolio positions
Recently I spoke to a uranium industry veteran and someone who has built mines himself and he said the following
"I have no idea where all the pounds we need are going to come from, for the first tike after ~50 years in the business, I simply have no idea"
Prices will go higher
"I have no idea where all the pounds we need are going to come from, for the first tike after ~50 years in the business, I simply have no idea"
Prices will go higher
May 7, 2025 at 3:59 PM
Recently I spoke to a uranium industry veteran and someone who has built mines himself and he said the following
"I have no idea where all the pounds we need are going to come from, for the first tike after ~50 years in the business, I simply have no idea"
Prices will go higher
"I have no idea where all the pounds we need are going to come from, for the first tike after ~50 years in the business, I simply have no idea"
Prices will go higher
Great jump by uranium equities on positive nuclear related news in the US.
Cameco is leading the way and they could stand to benefit greatly from an AP-1000 buildout program in the country.
The call options we bought on the Codex in Q1 have more than doubled 📈 (link in my bio)
Cameco is leading the way and they could stand to benefit greatly from an AP-1000 buildout program in the country.
The call options we bought on the Codex in Q1 have more than doubled 📈 (link in my bio)
May 6, 2025 at 7:39 PM
Great jump by uranium equities on positive nuclear related news in the US.
Cameco is leading the way and they could stand to benefit greatly from an AP-1000 buildout program in the country.
The call options we bought on the Codex in Q1 have more than doubled 📈 (link in my bio)
Cameco is leading the way and they could stand to benefit greatly from an AP-1000 buildout program in the country.
The call options we bought on the Codex in Q1 have more than doubled 📈 (link in my bio)
When it comes to a #uranium supply response, the proverbial 800 pound gorilla in the room that is Arrow is monitored closely, and rightly so.
But what about all the 150 pound chimps? Smaller projects that are seeing delays and cost overruns. All that is really starting to add up.
But what about all the 150 pound chimps? Smaller projects that are seeing delays and cost overruns. All that is really starting to add up.
May 5, 2025 at 9:52 AM
When it comes to a #uranium supply response, the proverbial 800 pound gorilla in the room that is Arrow is monitored closely, and rightly so.
But what about all the 150 pound chimps? Smaller projects that are seeing delays and cost overruns. All that is really starting to add up.
But what about all the 150 pound chimps? Smaller projects that are seeing delays and cost overruns. All that is really starting to add up.
Cameco storming out of the gates today with #uranium and the call options we bought in Q1 are firmly in the green. There was a lot to cover this week regarding macro and the conference call, so I wrote a 12 page report on it.
It's available for everyone right here ⤵️
www.patreon.com/posts/127972...
It's available for everyone right here ⤵️
www.patreon.com/posts/127972...
Contrarian Codex extra newsletter (macro and Cameco results) | Contrarian Codex
Get more from Contrarian Codex on Patreon
www.patreon.com
May 2, 2025 at 2:13 PM
Cameco storming out of the gates today with #uranium and the call options we bought in Q1 are firmly in the green. There was a lot to cover this week regarding macro and the conference call, so I wrote a 12 page report on it.
It's available for everyone right here ⤵️
www.patreon.com/posts/127972...
It's available for everyone right here ⤵️
www.patreon.com/posts/127972...
After all the macro uncertainty and equity market volatility over the past few months, the term price of #uranium remains unchanged
The long term trajectory remains firmly upward and to the right
The long term trajectory remains firmly upward and to the right
May 1, 2025 at 7:33 PM
After all the macro uncertainty and equity market volatility over the past few months, the term price of #uranium remains unchanged
The long term trajectory remains firmly upward and to the right
The long term trajectory remains firmly upward and to the right
Cameco wants market related exposure with escalated floors and ceilings, that is a requirement for them. This tells me that Cameco is confident #uranium prices will go higher for longer and that they will not produce a single pound without the right terms
No good terms, no new production.
No good terms, no new production.
May 1, 2025 at 12:45 PM
Cameco wants market related exposure with escalated floors and ceilings, that is a requirement for them. This tells me that Cameco is confident #uranium prices will go higher for longer and that they will not produce a single pound without the right terms
No good terms, no new production.
No good terms, no new production.
In one of the conference calls last year, we saw Cameco showcase their tier 2 production.
That's not the case in the presentation today and it's clear that the current pricing environment is 'not good enough' for those tier 2 assets. This rings true for other companies as well, which mutes supply.
That's not the case in the presentation today and it's clear that the current pricing environment is 'not good enough' for those tier 2 assets. This rings true for other companies as well, which mutes supply.
May 1, 2025 at 12:08 PM
In one of the conference calls last year, we saw Cameco showcase their tier 2 production.
That's not the case in the presentation today and it's clear that the current pricing environment is 'not good enough' for those tier 2 assets. This rings true for other companies as well, which mutes supply.
That's not the case in the presentation today and it's clear that the current pricing environment is 'not good enough' for those tier 2 assets. This rings true for other companies as well, which mutes supply.
Cameco's Q1 results are here and the conference call will be in an hour. Should make for an interesting conversation
www.cameco.com/media/news/c...
www.cameco.com/media/news/c...
Cameco Reports 2025 First Quarter Results
On May 1, 2025 Cameco reported its consolidated financial and operating results for the first quarter ended March 31, 2025, in accordance with International Financial Reporting Standards (IFRS).
www.cameco.com
May 1, 2025 at 11:00 AM
Cameco's Q1 results are here and the conference call will be in an hour. Should make for an interesting conversation
www.cameco.com/media/news/c...
www.cameco.com/media/news/c...
Very positive nuclear news! Japanese restarts are starting once again, with Japan’s atomic watchdog clearing the first nuclear restart since 2021 ⤵️
www.japantimes.co.jp/news/2025/04...
www.japantimes.co.jp/news/2025/04...
Japan approves first restart of a nuclear reactor in four years
The Nuclear Regulation Authority approved a preliminary report saying Hokkaido Electric Power’s Tomari No. 3 reactor meets post-Fukushima safety rules.
www.japantimes.co.jp
April 30, 2025 at 6:38 AM
Very positive nuclear news! Japanese restarts are starting once again, with Japan’s atomic watchdog clearing the first nuclear restart since 2021 ⤵️
www.japantimes.co.jp/news/2025/04...
www.japantimes.co.jp/news/2025/04...
Two years ago, Peninsula Energy secured ~6 million pounds in long-term contracts through 2033. Last year, they signed a deal to deliver 1.2M lbs to an EU utility from 2028–2033.
They are failing to deliver. Producing #uranium is hard and the marginal pound will not be sold until much higher prices.
They are failing to deliver. Producing #uranium is hard and the marginal pound will not be sold until much higher prices.
April 28, 2025 at 10:12 AM
Two years ago, Peninsula Energy secured ~6 million pounds in long-term contracts through 2033. Last year, they signed a deal to deliver 1.2M lbs to an EU utility from 2028–2033.
They are failing to deliver. Producing #uranium is hard and the marginal pound will not be sold until much higher prices.
They are failing to deliver. Producing #uranium is hard and the marginal pound will not be sold until much higher prices.
At the WNFC conference, Kazatomprom warned that supply might not be moving fast enough to catch up with rising demand. They specifically noted the depletion of low-cost resources and long lead times for new #uranium mines.
"There may not be enough guaranteed supply for everyone"
"There may not be enough guaranteed supply for everyone"
April 15, 2025 at 1:06 PM
At the WNFC conference, Kazatomprom warned that supply might not be moving fast enough to catch up with rising demand. They specifically noted the depletion of low-cost resources and long lead times for new #uranium mines.
"There may not be enough guaranteed supply for everyone"
"There may not be enough guaranteed supply for everyone"
Broad market volatility has had an outsized negative effect on risk-on equities, including various commodities such as #uranium
#Gold and #silver have been doing very well however and have carried the Codex portfolio YTD. We had some big winners, including 130% profit on AG calls. Link in bio ⤵️
#Gold and #silver have been doing very well however and have carried the Codex portfolio YTD. We had some big winners, including 130% profit on AG calls. Link in bio ⤵️
April 14, 2025 at 7:01 PM
There have been a ton of questions with regards to what is going on with the market (especially given how it affects #uranium equities as well) and what the road ahead may look like. In light of this, I wrote an 11-page analysis that is available for everyone to read:
www.patreon.com/posts/126123...
www.patreon.com/posts/126123...
Contrarian Codex extra newsletter edition | Contrarian Codex
Get more from Contrarian Codex on Patreon
www.patreon.com
April 7, 2025 at 1:10 PM
There have been a ton of questions with regards to what is going on with the market (especially given how it affects #uranium equities as well) and what the road ahead may look like. In light of this, I wrote an 11-page analysis that is available for everyone to read:
www.patreon.com/posts/126123...
www.patreon.com/posts/126123...
While the start of the year has been rough for the broad market and #uranium, the portfolio is still holding up well, helped by some big winners like AG calls (up 135% in a month)
A new 40 page report is now ready on the Codex which discusses all that and much more ⤵️
www.patreon.com/posts/124700...
A new 40 page report is now ready on the Codex which discusses all that and much more ⤵️
www.patreon.com/posts/124700...
Contrarian Codex newsletter (95) | Contrarian Codex
Get more from Contrarian Codex on Patreon
www.patreon.com
March 19, 2025 at 3:21 PM
While the start of the year has been rough for the broad market and #uranium, the portfolio is still holding up well, helped by some big winners like AG calls (up 135% in a month)
A new 40 page report is now ready on the Codex which discusses all that and much more ⤵️
www.patreon.com/posts/124700...
A new 40 page report is now ready on the Codex which discusses all that and much more ⤵️
www.patreon.com/posts/124700...
The lowest cost quartile of the #uranium production curve is moving up as Kazatomprom's C1 cash costs and AISC numbers are rising. The era of cheap pounds is over and with Kazatomprom reiterating their 'value over volume' strategy, it's clear that the term price trajectory is firmly up.
March 19, 2025 at 9:10 AM
The lowest cost quartile of the #uranium production curve is moving up as Kazatomprom's C1 cash costs and AISC numbers are rising. The era of cheap pounds is over and with Kazatomprom reiterating their 'value over volume' strategy, it's clear that the term price trajectory is firmly up.
BREAKING 🗞 Some of the world's largest companies are reaffirming their commitment to #nuclear power
"Major tech companies such as Amazon and Google today signed a pledge to support the goal of at least tripling the world's nuclear energy capacity by 2050"
#uranium
www.reuters.com/business/ene...
"Major tech companies such as Amazon and Google today signed a pledge to support the goal of at least tripling the world's nuclear energy capacity by 2050"
#uranium
www.reuters.com/business/ene...
Amazon, Google sign pledge to support tripling of nuclear energy capacity by 2050
Major companies such as Amazon and Google on Wednesday signed a pledge to support the goal of at least tripling the world's nuclear energy capacity by 2050, on the sidelines of the CERAWeek conference in Houston.
www.reuters.com
March 12, 2025 at 1:10 PM
BREAKING 🗞 Some of the world's largest companies are reaffirming their commitment to #nuclear power
"Major tech companies such as Amazon and Google today signed a pledge to support the goal of at least tripling the world's nuclear energy capacity by 2050"
#uranium
www.reuters.com/business/ene...
"Major tech companies such as Amazon and Google today signed a pledge to support the goal of at least tripling the world's nuclear energy capacity by 2050"
#uranium
www.reuters.com/business/ene...
There have been a lot of questions as to what is driving the broad equities market right now and while it seems chaotic, there is clear logic to the chaos and with that logic we can prepare for the months ahead. In this 5-page Codex update, I cover it in more detail ⤵️
www.patreon.com/posts/124114...
www.patreon.com/posts/124114...
March 11, 2025 at 9:16 PM
There have been a lot of questions as to what is driving the broad equities market right now and while it seems chaotic, there is clear logic to the chaos and with that logic we can prepare for the months ahead. In this 5-page Codex update, I cover it in more detail ⤵️
www.patreon.com/posts/124114...
www.patreon.com/posts/124114...