Member Info for YCA_700p_2023

Short positions coming down with a bit more urgency now, decreasing from 3.83% to 3.33% yesterday.

I wouldn't be surprised to see the uranium spot price break through the $83 resistance very soon, momentum is gathering speed after breaking out of the long drawn out pullback in the uranium price.

8150/8225 @Numerco

8175/8200 @Uranium Markets

8150/8200 @Evolution Markets

Source: Quakes Twitter https://x.com/quakes99/status/1839402505765326897/photo/2

8100/8200 Numerco

Great to see the fund managers for GCL in an interview, might be of interest for investors here.

Link: https://www.youtube.com/watch?v=FaS96z1QAYs

"Financial institutions including BofA, Morgan Stanley and Goldman back COP28 goal of tripling capacity by 2050

Fourteen of the world’s biggest banks and financial institutions are pledging to increase their support for nuclear energy, a move that governments and the industry hope will unlock finance for a new wave of nuclear power plants.

At an event on Monday in New York with White House climate policy adviser John Podesta, institutions including Bank of America, Barclays, BNP Paribas, Citi, Morgan Stanley and Goldman Sachs will say they support a goal first set out at the COP28 climate negotiations last year to triple the world’s nuclear energy capacity by 2050."

Link: https://www.ft.com/content/96aa8d1a-bbf1-4b35-8680-d1fef36ef067

Microsoft’s AI Power Needs Prompt Revival of Three Mile Island Nuclear Plant

Constellation to invest $1.6 billion to restart dormant reactor as data-center power demand surges.

The owner of the shuttered Three Mile Island nuclear plant in Pennsylvania will invest $1.6 billion to revive it, agreeing to sell all the output to Microsoft Corp. as the tech titan seeks carbon-free electricity for data centers to power the artificial intelligence boom.

Constellation Energy Corp., the biggest US operator of reactors, expects Three Mile Island to go back into service in 2028, according to a statement Friday. While one of the site’s two units permanently closed almost a half-century ago after the worst US nuclear accident, Constellation is planning to reopen the other reactor, which shut in 2019 because it couldn’t compete economically.

Link: https://www.bloomberg.com/news/articles/2024-09-20/microsoft-s-ai-power-needs-prompt-revival-of-three-mile-island-nuclear-plant

"Environment and Energy Security Minister Gilberto Pichetto said Thursday that the government aims to pass the necessary legislation to make Italy's return to nuclear power possible by the end of the current parliamentary term.

Italy closed its nuclear plants in 1990 after the 1987 referendum on atomic energy following the Chernobyl disaster.

However, Premier Giorgia Meloni's administration says this policy should be revised, given that nuclear energy has a low carbon footprint and there is a need to reduce greenhouse gas emissions to meet European and international targets for combating the climate crisis.

The country is also looking to boost its energy security following the war caused by Russia's invasion of Ukraine.

"Yes, we'll give it our all," Pichetto told Radio 24 when asked if the legislative framework for nuclear energy could be changed by the end of parliament.

"This is this mandate of the government and of parliament."

"I am acting via a working group that must take care of the judicial framework. "

Link: https://www.ansa.it/english/news/politics/2024/05/02/law-for-return-to-nuclear-by-end-of-this-parliament-pichetto_13c0ae18-efaa-4876-876a-bcbce0022a78.html

"It's taken 17 years, but uranium's record price of US$146/lb set in 2007 could soon be passed with Citi, a leading investment bank, forecasting $151/lb as its bull case price for the nuclear fuel"

Link: https://www.mining-journal.com/miner-s-right/opinion/4204584/russian-uranium-ban-drive-price-record-usd151-lb

"Data center developers in Northern Virginia are asking utility Dominion Energy Inc. for as much power as several nuclear reactors can generate, in the latest sign of how artificial intelligence is helping drive up electricity demand.

Dominion regularly fields requests from developers whose planned data center campuses need as much as “several gigawatts” of electricity, Chief Executive Officer Bob Blue said Thursday during the company’s first-quarter earnings call. A gigawatt is roughly the output of a nuclear reactor and can power 750,000 homes."

Link: https://www.bloomberg.com/news/articles/2024-05-02/data-centers-now-need-a-reactor-s-worth-of-power-dominion-says

91/92 @ Numerco

90/95 @ Uranium Markets

link: https://twitter.com/quakes99/status/1785677536699335021

"The U.S. Senate approved on Tuesday legislation to bar imports of Russian uranium, as the United States continues to seek to disrupt Russia's efforts in its war against Ukraine.

The Senate passed the measure by unanimous consent, meaning that no senators objected to it. The House of Representatives passed the bill in December.

The legislation would ban the imports 90 days after enactment. It contains waivers in case there were supply concerns for domestic reactors."

Reuters link: https://www.reuters.com/world/us/us-senate-approves-bill-ban-russian-uranium-imports-2024-05-01/

Bloomberg link: https://www.bloomberg.com/news/articles/2024-04-30/senate-passes-russian-uranium-import-ban-sending-bill-to-biden

ZeroHedge link: https://www.zerohedge.com/markets/senate-passes-ban-russian-uranium-imports-risking-havoc-and-soaring-price-uranium-markets

Numerco 88.00/89.50

Numerco 8700/8900

Market has flushed out the hot money from this trade now and we can start to build the foundations of the next rally.

2 steps up 1 step down and repeat.

Numerco 8500/8600

YCA is looking very attractive at these prices.

Another brilliant video from Dustin Garrow, he has such a depth of knowledge of the uranium market and contracting.

"The Company will use all reasonable efforts to ensure it complies with its production volume obligations under the Subsoil Use Agreements. Concurrently, entities engaged in mining operations at newly established deposits face the potential challenge of descending beneath the threshold of minus 20% (in relation to the stipulations of the Subsoil Use Agreements)."

Kazatomprom revises guidance for 2024 production down to 21,000 - 22,500 tU (100% basis).

"The Company anticipates that the production volume for the majority of its uranium mining operations will be approximately 20% below the levels stipulated in the Subsoil Use Agreements. Nonetheless, the Company projects a modest annual growth in production for the year 2024"

"If the limited access to sulphuric acid continues throughout the current year and the Company does not succeed in reducing the delay in the construction schedule at the newly developed deposits in 2024, this could unfavourably influence Kazatomprom's production plans for 2025."

Worth reading through the whole RNS.

link: https://www.londonstockexchange.com/news-article/KAP/kazatomprom-4q23-operations-and-trading-update/16313069