Gerardo Del Real
Feb. 23, 2023
The major indices remain in a bear market, the gold price – despite some welcomed M&A – remains sideways and even the price of lithium has temporarily (it is temporary) pulled back from all-time highs. Nothing goes straight up and the breather is welcomed.
Which gets me to my point, the ingredients necessary for a raging uranium bull market.
I was in Vancouver recently to do what people do at PDAC. I attended a panel that included none other than Rick Rule and our very own Nick Hodge.
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The panel – and a speech by Nick earlier that day – was so well attended that there weren’t enough seats to accommodate everyone. It’s been a very long time since I’ve seen that at an investment conference and I must say it was a welcomed sight.
I’ve told you for over a year now that the requisites for a uranium bull market were slowly but surely being led out.
The most recent bit of bullish news comes from three U.S. senators who, despite their career choices, have chosen to use their influence for good and have introduced bipartisan legislation directing the U.S. Department of Energy to establish a nuclear fuel program to strengthen domestic production.
In America, we don’t do much on a bipartisan level.
The legislation would prioritize increasing U.S. production of low-enriched uranium and accelerating efforts to establish a high-assay, low-enriched uranium capability.
Sen. Joe Manchin, D-W.Va., chairman of the Senate Energy and Natural Resources Committee commented “now is the time to take a hard look at how we source the raw materials necessary to power our nation and develop advanced energy technologies.” I’d say we should’ve done that decades ago but we’ll discuss that another day.
The Nuclear Fuel Security Act was introduced February 15, 2023. The act would benefit facilities such as a planned 345-MWe sodium-cooled TerraPower Natrium demonstration nuclear reactor in Kemmerer, Wyoming.
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War and political red tape have led to an over two-year delay in completing the reactor. A reactor that the DOE is supporting to the tune of nearly $2 billion.
That’s the point. In an era of political grandstanding, legislators better fit for reality shows and very little bipartisanship of any kind for anything, nuclear is the common thread bringing legislation and capital together.
The next few years will see a surge in private/public partnerships that will fuel the next great uranium bull market, not just in the U.S. but around the world.
I plan on continuing to profit from this clear trend.
Gerardo Del Real
Editor, Daily Profit Cycle