🔴 Wait...What? Is Cameco Trying To Kill The Uranium Spot Price?? 🤯 | Terry Papineau #video

Summary

在这段对话中，讨论了铀矿产业的当前状况和未来的投资前景。提到了铀矿公司在商品周期中的表现，特别是勘探公司和知名开发商之间的差异。讨论了俄罗斯暂停协议对市场的影响，以及拜登可能签署该协议的预期。还提到了铀价的波动，以及铀价上涨对不同公司股价的影响。强调了对铀矿产业长期的乐观态度，尤其是考虑到新的核电站建设和数据中心对电力需求的增加。最后，为新投资者提供了一些建议，包括进行充分的尽职调查，关注公司的管理和项目，以及考虑不同的投资工具来分散风险。

Takeaways

• 📈 **铀价波动**：铀价格在2023年第四季度至2024年初经历了显著上涨，达到每磅16美元，随后迅速回落至84美元，这种剧烈波动是铀市场的典型特征。
• 🚀 **俄罗斯铀禁令**：俄罗斯铀出口禁令的通过和预期的美国签署，为铀市场带来了不确定性的消除，预计将推动铀价上涨。
• 💰 **资金流入**：随着市场对铀行业的关注增加，资金开始流入该行业，尤其是那些能够在美国快速生产的公司，如能源燃料公司和铀能源公司。
• 🔍 **勘探公司的价值**：尽管勘探公司的股价滞后于铀价，但当市场对铀行业的兴趣增加时，这些公司的股价有望显著提升。
• 🇺🇸 **美国生产商的机遇**：随着俄罗斯铀供应的不确定性，美国和西方友好国家的铀生产商可能会获得更多的合同和市场份额。
• 📊 **铀需求增长**：数据中心和人工智能中心的兴起预计将大幅增加对电力的需求，从而推动铀作为核电燃料的需求。
• 📚 **尽职调查**：对于新进入铀市场的投资者，建议进行彻底的研究和尽职调查，以了解市场的波动性和相关公司的情况。
• 🌐 **信息资源**：现在有更多的信息资源和投资工具，如铀信托基金、铀矿业基金和专门的YouTube频道，可以帮助投资者更好地了解和投资铀市场。
• 🔗 **管理团队的重要性**：投资者应关注铀矿公司的管理团队，他们的历史表现和项目执行能力，以及公司是否按承诺使用资金进行勘探。
• 📝 **透明度和信誉**：投资者应评估公司是否透明运作，以及它们是否履行了对投资者的承诺，这包括资金的流向和项目进展。
• ⏳ **长期视角**：铀市场的投资需要耐心和长期视角，短期内可能会有波动，但长期趋势看好，尤其是考虑到全球对清洁能源的需求。

Q & A

为什么在商品周期中，勘探公司的股价通常会落后于大型矿业公司？

在商品周期中，较大的资金流入该领域时，投资者通常只能投资于市值达到一定规模的公司，即所谓的蓝筹股或知名开发商。因此，这些知名公司的股票会首先上涨，这是商品周期中的一种正常现象。

俄罗斯暂停协议对铀市场有什么影响？

俄罗斯暂停协议一旦通过，市场预期美国公用事业将无法从俄罗斯或俄罗斯友好国家获得材料，这增加了市场的不确定性。然而，随着俄罗斯材料的禁令生效，这种不确定性被消除，市场变得更加清晰，预计公用事业将开始进入合同周期，这可能会推动铀价上涨。

铀价在2023年第四季度至2024年初的表现如何？

在2023年第四季度至2024年初，铀价经历了显著的上涨，一度达到每磅16美元的高点，但随后迅速回落至每磅84美元。这种剧烈的价格波动给市场带来了不确定性。

如果发生核事故，会对铀市场产生什么影响？

如果发生核事故，可能会在短期内对铀市场产生负面影响，导致市场暂时下滑。然而，考虑到当前能源短缺的环境，市场可能会比福岛事故后更快地反弹。

铀价上涨是否已经在市场价格中体现？

铀价上涨已经在市场价格中有所体现，因为一旦俄罗斯禁令的消息传出，铀价和相关股票价格都有所上涨。然而，随着更多资金流入该领域，预计铀价可能会继续上涨。

哪些类型的公司会从俄罗斯禁令中受益最大？

能够在美国快速生产的公司，如能源燃料公司和美国铀业公司等，会从俄罗斯禁令中受益最大。因为投资者意识到公用事业现在需要与美国生产商和西方友好的开发商签订更多合同。

在铀市场投资时，应关注哪些因素？

投资者应该关注公司的管理团队、项目、资产、历史表现以及公司是否按照承诺使用筹集的资金进行勘探。此外，了解公司的运营是否与他们声称的一致，以及他们是否能够按时完成勘探活动也非常重要。

对于新进入铀市场的投资者，您有什么建议？

新投资者应该做好充分的尽职调查，研究市场，并利用现有的丰富信息资源。同时，考虑到市场的波动性，投资者需要有耐心，并对自己的投资决策保持信心。

目前是否是投资大型铀矿公司股票的好时机？

鉴于铀价预计将继续上涨，大型铀矿公司的股票可能会随之上涨。然而，勘探公司的股价可能会因为缺乏新闻和市场兴趣而落后。投资者应考虑市场的整体情况和自己的风险承受能力。

您如何评估您投资组合中的公司？

我会评估公司的管理、项目、资产、历史表现，并且特别关注公司是否按照承诺使用筹集的资金进行勘探活动。

您如何保持对铀市场的最新了解？

我通过参加行业会议、与公司高管交流、阅读行业报告和新闻稿，以及关注YouTube上的行业频道来保持对铀市场的最新了解。

您在铀市场投资中的最大赢家和输家是什么？

我的最大赢家是ISO能源，我从40美分左右开始买入，股价一度达到了15倍的回报。而我的投资组合中表现最差的公司价格基本保持不变，我买入时大约是5美分，现在也差不多是这个价格。

您认为铀市场的前景如何？

我对铀市场的前景非常看好，认为铀价将继续上涨，而且这个牛市可能会比我最初预期的更长、更深。

Outlines

00:00

📈 铀资源行业周期与市场动态

第一段主要讨论了铀资源行业的周期性，以及投资者对于不同市值公司的投资偏好。提到了在资源行业周期中，资金首先流向市值较大、更为知名的公司，即所谓的蓝筹股。同时，也提到了勘探公司在市场中的表现，以及市场对勘探公司消息的期待。此外，还讨论了俄罗斯暂停协议对铀市场的影响，以及市场对拜登签署该协议的反应。强调了市场不确定性的减少将促使公用事业进入合同签订周期，预计铀价会有所上涨。

05:01

🚧 铀资源供需与市场准入

第二段讨论了铀资源的供需状况，指出未来几年需要大量增加产量，许多矿山尚未获得许可或建成。讨论了铀价的波动性，以及市场对俄罗斯铀禁令的反应。还提到了铀资源投资信托基金（Sprat）的交易情况，以及其对市场的影响。最后，探讨了不同类型的公司如何从市场新闻中受益，特别是那些能够快速在美国生产的公司。

10:02

💬 行业会议与市场信息

第三段涉及了行业会议和电话会议的信息，讨论了市场参与者如何通过这些会议获取行业动态。提到了Camoo公司的电话会议，以及公司管理层对于合同签订量的回应。分析了大型生产商可能对市场价格的影响，以及他们可能采取的策略来避免在市场价格高时购买铀。

15:04

🔍 市场分析与投资者视角

第四段中，讨论了市场分析和投资者的视角。提到了市场在过去几年中的起伏，以及新的信息和发展趋势如何改变了投资者对铀市场的看法。特别提到了人工智能和数据中心对电力需求的增长，以及这可能对铀需求产生的影响。

20:07

📊 铀价波动与投资策略

第五段探讨了铀价的波动性以及这对矿业公司股价的影响。讨论了不同类型公司的表现，包括大型矿业公司和勘探公司。提到了投资者在不同市场周期中应该如何调整他们的投资策略，以及市场对铀价上涨的预期。

25:08

💼 投资组合管理与个人投资经历

第六段中，讨论了个人投资组合的管理，包括投资于勘探公司、过去的生产商和开发公司。分享了个人投资经历，包括最大的赢家和输家。此外，还提供了对新铀投资者的建议，强调了进行自我研究和尽职调查的重要性，并提到了多种投资工具和资源。

30:08

🔗 信息资源与行业参与

第七段讨论了如何通过各种资源，如YouTube频道、行业会议和公司网站，来研究和保持对铀行业的了解。强调了与公司管理层的直接沟通的重要性，以及评估公司是否按照其声明使用资金进行勘探。还推荐了特定的新闻通讯和YouTube频道，作为获取行业信息的资源。

35:09

✅ 结语与社交媒体互动

第八段是视频的结语部分，主持人感谢嘉宾的参与，并鼓励观众对内容进行点赞、评论和订阅。同时，提供了嘉宾的社交媒体链接，以便观众可以进一步交流。

Keywords

💡铀矿勘探公司

铀矿勘探公司是指那些专注于寻找和评估铀矿资源的公司。在视频中提到，这类公司在商品周期中通常会落后于其他公司，因为投资者倾向于首先投资于市值较大、更为知名的公司。勘探公司在视频中被提及，是因为它们在铀市场的变化中扮演着重要角色，尤其是在俄罗斯暂停协议被美国参议院批准后，市场对这些公司的关注度增加。

💡商品周期

商品周期是指商品价格随供需关系变化而经历的周期性波动。在视频中，提到铀矿勘探公司在商品周期中的表现通常落后，这是因为大型投资者倾向于投资于市值较大、更为稳定的公司。商品周期对铀矿市场的影响是视频中讨论的一个关键点，尤其是在分析市场动态和预测未来趋势时。

💡市值

市值是指公司股票的总价值，通常通过将股票价格乘以已发行股票的总数来计算。视频中提到，投资者在选择投资对象时会考虑公司的市值，大型投资者更倾向于投资市值较大的公司，这通常意味着这些公司更为稳定和知名。市值是评估公司规模和投资吸引力的一个重要指标。

💡铀价波动

铀价波动指的是铀这种商品价格的上下变动。视频中讨论了铀价在2023年的显著上涨，以及随后的急剧下跌，这种波动性是铀市场投资者需要关注的关键因素。铀价的波动受到多种因素的影响，包括全球政治事件、市场需求变化以及相关政策变动等。

💡俄罗斯暂停协议

俄罗斯暂停协议是指俄罗斯与美国之间关于铀供应的协议。视频中提到，美国参议院批准了俄罗斯暂停协议，这可能会影响铀的供应和价格。该协议的批准被视为市场的一个重要事件，因为它可能会改变铀市场的供需动态，从而影响铀矿公司和投资者的决策。

💡市场不确定性

市场不确定性是指由于未来事件的不可预测性而对市场造成的影响。在视频中，提到了过去几年中由于俄罗斯与乌克兰的冲突、以色列和巴勒斯坦的冲突以及伊朗的介入等因素导致的市场不确定性。这些事件增加了铀市场的不确定性，影响了投资者的决策和铀价的波动。

💡铀市场投资

铀市场投资涉及购买铀矿公司的股票、铀相关的金融产品或直接投资铀本身。视频中讨论了铀市场投资的不同方面，包括投资大型铀矿公司、勘探公司以及通过铀信托基金等方式投资铀本身。投资铀市场需要对市场动态、公司基本面和全球政治经济事件有深入的理解。

💡小型模块化反应堆（SMR）

小型模块化反应堆是一种新型的核反应堆设计，其特点是体积小、建造成本低、建造时间短。视频中提到，随着对清洁能源需求的增加，多个国家承诺到2050年将其核能容量增加三倍，这可能会增加对铀的需求。SMR作为核能领域的一种创新，可能会在未来的能源市场中发挥重要作用。

💡铀资源短缺

铀资源短缺指的是铀矿资源的供给无法满足市场需求的情况。视频中提到，未来几年将需要大量的铀矿资源来满足能源需求，特别是如果考虑到新的核电站建设和现有核电站的运营。铀资源短缺的问题可能会推高铀价，从而影响整个铀矿行业的投资和开发。

💡投资者耐心

投资者耐心是指投资者在面对市场波动和不确定性时保持冷静和坚持投资策略的能力。视频中强调了耐心在投资铀矿市场中的重要性，尤其是在经历了长期的市场低迷和波动之后。耐心的投资者更可能在市场周期的起伏中保持投资，从而在长期内获得回报。

💡铀市场供需

铀市场供需涉及铀的供应量与需求量之间的关系。视频中讨论了铀市场的供需状况，包括新的核电站建设需求、现有核电站的运营需求，以及铀资源的开发和生产。供需状况是影响铀价和铀矿公司股价的关键因素，也是投资者在做出投资决策时需要考虑的重要因素。

Highlights

勘探公司在商品周期中落后于其他公司是正常现象，大型投资者倾向于投资市值较大、知名度较高的公司。

俄罗斯暂停协议的通过对铀市场产生了显著影响，市场对此反应积极。

市场对于铀价的波动性很大，价格从2023年的低点迅速上升至每磅16美元，随后又大幅回落。

随着市场不确定性的减少，美国公用事业公司预计将开始进入合同签订周期。

铀价的上涨可能尚未完全反映在股票价格中，预计随着资金流入，铀价将继续上升。

能够在美国快速生产的公司，如能源燃料公司和铀能源公司，股价对俄罗斯禁令的反应非常积极。

在铀市场，大型生产商如Cameco和Kazatomprom需要从外部获取材料，这可能会影响他们的利润。

铀市场经历了多年的起伏，但当前的市场情况和新的信息使得投资者对铀市场的前景更加乐观。

新的信息和承诺，如30个国家计划到2050年将核电容量增加三倍，增强了铀市场的投资论点。

人工智能中心和数据中心的电力需求预计将在四年内翻一番，这将增加对铀的需求。

尽管铀价上涨，矿业股票并未与之同步上涨，但某些中型和小型企业的股票表现良好。

对于新进入铀市场的投资者，建议他们进行深入研究，了解市场，并关注管理、项目和公司历史。

投资者应该关注公司是否按照承诺使用筹集的资金进行勘探活动。

市场上有多种投资工具，包括实物铀信托、版税公司和共同基金，可以分散风险。

铀市场的波动性很高，投资者需要有耐心，并准备好应对市场的起伏。

即使市场短期内下跌，长期来看，铀市场的需求和价格预计将继续增长。

对于新投资者，了解和跟踪铀市场的各种信息来源，如YouTube频道和行业会议，是非常重要的。

Transcripts

the Explorers have really

lagged uh and and some of them

drastically dramatically and which which

is kind of normal in in in these

commodity Cycles uh you know the bigger

money that comes into the sector uh you

know they can only invest in certain uh

in companies that have a certain market

cap they'll invest in you know the the

companies that that are better known the

Blue Chips the better developers that

kind of thing so to see those names move

move first I think is normal in in the

commodity

cycle and I also understand that with

regards to the the the Explorers like

you know people are like waiting for

news on the Explorers these the better

names are out there drilling they're

trying to find something and some of

these companies that these explorers

that have found something have been

rewarded like

that hey guys Terry Poppin who's back on

the show Terry what is your latest take

on the uranium Market at the

moment well uh I mean what what a what a

what a ride basically um I think that uh

the announcement that we received this

week uh of the Russian where you know

the the Senate actually ratified the

Russian suspension agreement um we're

waiting for Biden to to sign it uh the

the next morning after it was announced

the markets ran the the uranium names

went up uh significantly quite a bit

Yeah and then uh and then they sold off

at the end of the day uh yesterday was a

good day uh today was another good day

in the markets but um I mean the the the

the different uh impediments to to

seeing this sector really take off or

just falling one by one and what I mean

by that is for those that have been in

the trade long enough to remember like

the section

32 um uh Russian suspension agreement um

you know a few years back uh where the

you know there was a lot of uncertainty

related to you know can the US utilities

uh obtain uh material from Russia or

Russia friendly countries and that puts

some un uncertainty in the markets and

then we had you know Russia invaded

Ukraine and then conflict with Israel

and Palestine and then Iran getting

involved and and now where there you

know the Russian uh material the Russian

ban is is in effect um you know all of

the pieces that were kind of creating

uncertainty in the market have been

taken away uh and I think that now now

that there's Clarity uh I think that the

utilities that were waiting on that

Clarity will now begin to um to enter

into that Contracting cycle that that we

saw a bit of last year uh but I think

that now we're going to see quite a bit

more of it because they have clarity now

and you know with all that uncertainty

and those events that I've been

describing uh the uh you know there's

been a lot of volatility and uh we saw

volatility this this just this week and

uh you know we saw a a very impressive

runup in the price of uranium uh in 2023

especially in the last quarter of

2023 uh that continued in the first

month of 2024 where the price of uranium

uh reached

$16 a pound uh the spot price of uranium

and then it it fell back down fairly

dramatically to about $84 a pound very

very

quickly and typical uranium what's that

said typical uranium yeah and so that

left every body just scratching their

heads go what's going on here finally

we're we're seeing you know the the the

price of uranium do what what everyone

was expecting it to do and then it gets

just gets shot down quite dramatically

and and very quickly in the space of a

day or two and that just threw a cold

shower on on the sector again so it's

been uh for me anyways I've been in this

this uh sector since since 2017 it's

been quite a a roller coaster ride um of

volatility and but but my take on the

sector is it it's basically the same

thing I've been saying and people are

going to be tired of hearing me say it

but it's just the the spring is now I

think coiled to its Max um the there's

kind of an urgency now in terms of

really

determining uh how are the Western uh

friendly utilities going to Source their

uranium fuel for the years to come

there's a large deficit as we know uh if

in the years to come uh you know there's

there's a lot of production that needs

to come online there's mines that aren't

even permitted aren't even built yet

that are needed by 2030 that that are

not there so I think that uh we're going

to see finally um you know barring

another maybe financial event or or uh

accident uh I think finally we're going

to see more more money now really uh

coming uh starting to enter the

sector yeah I mean people often site the

accident the nuclear accident thing and

I let me know if you're kind of of this

belief as well but the way I see it is

that even if an accident does occur you

know you might see somewhat of a of a

short-term to midterm bare Market in the

uranium Market but I think we rebound a

lot faster than we with Fukushima given

the

necessity of energy in this energy

shortage environment that we

have it ABS well it's going to depend on

what like let let me rephrase that it

would uh it depends on what uh what what

we're talking about you know if it's if

it's uh like a minor event at one

facility um which we saw a few years ago

in China there was talk about in the sum

about you know radiation leak and all

that kind of stuff then you know it's

going to be it's going to be very

temporary and very minor uh if it's a

major event and my my biggest I think uh

bare case scenario is if if uh if if

there was a a a major um flaw with the

you know the chines design uh that

they're building um you know there's a

lot of units that are built if they find

a major flaw in that design and they

have to put that build out on on pause

or on Old I think that would have a

major effect on the sector gotcha uh so

you mentioned the uranium Russian

uranium ban uh coming up that's passing

the Senate it's looking to get signed by

Biden sometime next week now H we did

see some movement in the uranium space

as well has

the has this kind of already been priced

in now whether or not Biden sign which

you most likely will um but has has the

move already been priced in at this very

moment do you think or do you think that

we we still have more upside to come

because of this

ban uh well I I think that we we saw the

the spot price of uranium jump jump up

right away and we also saw uh money come

into the sector um right away and I

think the the uh one of the major

players uh related to this is the Sprat

physical uranium trust and so where

we're spit let's call it spit spit for

the past two years let's let's say since

2022

2023 has been trading at a discount to

nav like almost 90 95% of the time which

means that it can't ra it can't activate

the at the market uh that they have and

raise issue new shares raise money and

that's been an impediment to them like

it's been holding the the fund back in a

sense because when you know they can't

be raising money and they're not buying

uranium so that kind of is putting like

a pause on the on this on the purchase

of uranium on the spot Market by

sput since uh let's say the end of uh Q4

2023 and in q1 2024 it's been trading

closer to nav uh which means that on on

on certain days it's able to activate

the

ATM taking money and then it turns

around and buys Uranium on the spot

Market which we've seen them do in the

past two years we've seen them uh you

know not two years excuse me two weeks

we've seen them purchase uh uranium 100b

100,000 lb here 100,000 lb there and

when they are close to now and and when

they enter into a premium Tav I've

noticed that what happens is the sellers

people that have uranium they'll

actually kind of anticipate the fact

that you you know spot split's going to

come into the market and they raise

their ask price so you know I think

that uh because more money is coming

into spit uh because this band now we

know we have Clarity on that more money

is coming into the sector so I think

that the price may have some people may

have baked the price that into the price

but I I think that money is going to

continue coming into the sector and I

think that as Things become even clearer

I think that the price of uranium will

continue to rise so I think it has a

little bit a little ways to go still

yeah so what type of companies benefit

most out of this type of

news Well we we've seen uh let's say

this week for example we've seen with

this Russian ban we've seen any company

that could produce uh fairly quickly in

the US we've seen their their share

prices respond very very

well on energy ueec Energy Fuels urg you

know other names uh similar H have

responded very well because now I I I

imagine that uh the generalist investor

or people that are coming into the

sector realize now that um you know

utilities will need to sign more

contracts now uh with uh us producers

and US developers and Western

friendly uh developers and producers so

we've also seen the cicos the paladins

the uh you know the Bannerman you know

uh different names of that nature uh do

well since since the Russian ban has

been passed yes speaking of camoo camoo

had their big q1 uh call earlier this

week uh yesterday actually at the time

of this recording what were some of the

big takeaways that you saw from that

call yeah it was actually Tuesday a

couple two days ago uh well big takeaway

I I've found

and what I what I've noticed is that I

I've been listening to their quarter Le

conference calls and I've actually

called in a couple times and asked some

questions but I've noticed that the tone

of their calls has changed clearly I'm

not going to use the word dramatically

but clearly there's been a clear

change in in in their conference call

since Q4 of

2023 when the price of uranium went up

quite a bit and then when it hit $106 so

when when they did their Q their their Q

four 2023 conference call in February of

2024 and and the last one that they just

had on

Tuesday now all of a sudden someone

asked uh Grant Isaac the question

directly go can you give us color on the

Contracting volumes and Grant Isaac

responded oh we've moved away from

talking about that uh you know we you

know we know what the Contracting Market

looks like we don't need to comment

something to that effect and to to me I

I just find that you know that

they've been purposefully vague and I

find that they're to me it almost sounds

like they're trying to or it feels like

they're trying to throw a cold shower on

the market you know not reveal their

their their their hand their show their

cards too much because you know let

let's let's remember that uh you know

they're they're oversold so they need to

Source

material outside of what they can

produce they have various ways of doing

that they could you know ways that I

don't know of but and and not only is

chical in that situation katam prom is

also in a situation where they might

they'll need to Source material probably

out outside of their production so the

two largest producers in the world you

know need to obtain material somehow and

arano is in the same situation uh so the

three largest producers need to Source

material where are they going to get it

well one of the ways one of the places

where they can get the material is in

the spot market and I you know I don't

think it's a it's a conspiracy theory

here but I believe that they're kind of

purposefully trying to subdue this

because the the more they pay for for

the uranium that they need to purchase

if they do purchase your material then

the less money they'll be making uh they

could actually be losing money on the

pounds that that they need to purchase

right because they may have contracted

that material selling it at let's say a

realized price of $60 and if if they

need to be paying if if they're

paying you know $85 or $100 in the

market uh for that material that then

they're losing money so it's like uh

some people have described it as John

chaga has used the term it's kind of

like there's a buyer strike and that's

that's kind of my my what I'm taking

away from from the the conference

confence call is the is the actual tone

um you know there there's been other

conference calls in the past Mo

especially in 20122 when they announced

that they were restarting MacArthur

River uh and other conference calls when

they've been really saying you know we

we've never seen this level of

Contracting before this interest this

blah and now it's like they're really

that's the sense that I'm getting

they're trying to kind of tone it down a

little bit and to me it's like they're

throwing a cold shower on the SE

yeah I mean it sounds like their

incentives actually fall in place to

like you said through a cold shower on

the sector because they are also buyers

of uranium as well so yeah makes sense

there we've had a lot of ups and downs

in this market over the course of you

know in your case eight years now since

2016 is where we are now does does that

has that kind of met your expectations

exceeded your expectations or kind of

lived below your expectations

considering when you got in you know

when you got in back in 2016 did you

really first see yourself holding on to

these uranium equities up until now and

if so like are these kind of the gains

that you were envisioning or or not or

has the thesis changed in such a way

that you're even more bullish than you

were back then yeah no it has not

unfolded um to my expectations in the

sense that uh when I first got in I I

used to to tell people I think it's

going to be a three to five year play uh

so I was hoping to get the you know the

the the the payout uh in in that time

frame so in that sense no it has not uh

met my expectations but on the other

hand uh for the second part of your

question yes I'm I'm even more bullish

now than I've ever been you know it's

it's really taught me to be patient and

I you know and I think of a lot of the

guru invest lessons where where they

take about the hardest thing to do is

just to do nothing and all those cat

nice catchy investor phrases and all

that kind of you know find something

where you're convinced and and and you

just hold on and you know the markets

are a way of transferring wealth from

the impatient to the patient all those

things really come to mind when when I'm

thinking of my uranium Investments

here but uh so in terms of the time

frame it you know no it hasn't the

expectations but in ter in terms of the

the the the underlying

thesis I think that it's it's a it's

going to be a a better bull market than

than what I thought and I think it's

going to last way longer than what I

initially envisioned and I think it's

going to be deeper and it it's just

gotten way way way way better and and i'

I've spoken about this often like the

first three years like there was no

information

none it was you know it was John Quakes

Trader Ferg Justin Hune myself uh there

was a group called follow the money

investor group that started doing some

videos at one point in time there there

you know there there

were it's you know just a few group just

a few groups of people that were

involved and doing research and stuff

like that and there was no talk about

you know you were hearing word about

small modular reactors really knowing

what that was going to

mean uh you know there was no commitment

by you know like 30 Nations to Triple

their nuclear capacity by

2050 uh none of that like you know

there's so many things that have

developed uh to to improve the thesis in

that period of time it's it's just

mindboggling and um I I don't pretend to

think that all of what is being said is

going to occur but if just a certain

amount of it or percentage of it uh is

true like for example in the past two

weeks like it's like the big story now

is these um AI centers artificial

intelligence centers and these data

centers that are that are going to be

consuming huge amounts of electricity

you weren't hearing anything about that

in 2016 2017 even up to 2022 23 you know

that just started coming out in the past

uh let's call it six months yeah I this

is what you have here this is from the

camoo conference call so they had this

slide up and they're basically comparing

the electricity demand between 2022 and

2026 with regards to these data centers

so you've got the traditional data

centers here in green the

cryptocurrencies here in blue and then

in light blue you have the AI data

centers and you know the upshot of it is

that within four years time you can

expect to almost double the demand from

these data centers from 20222 to 2026 so

in in a in in a situation where the grid

the amount of electricity that we can

generate is already pretty maxed

out so you know to have Amazon you know

buying a data center that's tied to to a

nuclear plant and to have to have Mark

Zuckerberg come out and say you know

basically you know this is what's going

to be happening in the future and the

real the what the best thing that we

could do here is tie these data centers

to small modular reactors where it's 247

you know and then now thinking taking

that that idea out even further where

you know they'll be they'll be financing

these small modular reactors and being

able to maybe work with government to

obtain subsidies and be able to you know

provide further electricity to meet you

know the general demand it's it's just

get getting better and better and better

so and that's going to mean even more

demand for for Uranium than what the

previous models uh showed so you know

it's uh in that sense I think that it's

going to exceed my expectations gotcha

gotcha uh one source of angst in the

uranium investing Community are the

mining Equity is not keeping up with the

spot spot price itself I mean this is a

long-standing

complaint but you did see cico you did

see NextGen keep up with the metal and

even exceed it in in those cases my

question to you is right now this very

moment in time is it still in your

opinion not Financial advice but is it

still the time to invest in these bigger

cap names or is it possibly time to move

down the risk curve and allocate money

towards the medium small cap

companies well um that's that's a very

good question and I'm not sure that I I

I have the exact answer but I can give

you my thought process around it and the

way I see it is you know like you said

the equities seem are somewhat tied to

the price of the metal itself and in any

other commodity usually when the price

of the commodity goes up the equities in

that sector go up uh as well and

sometimes exponentially more um so

especially when you're looking at some

of the de um explorers and high-risk

developers where you know they where the

the the performance of the equity can

they can outperform the metal itself or

the commodity itself so we saw uh the

the bigger names uh the like the

cicos uh and some of the uh past

producers and and the and the uh uh

developers the quality developers really

uh do well they some of them did follow

the commodity itself and some of these

names are close to their all-time highs

uh but let's just stay with this group

of companies uh where the price of

uranium is at the moment you know the

price of uranium is is close to $92

right

now and I believe and and many other

people believe that uh and and some

experts and and some trading houses are

are predicting that you know price of

urum is going to go up to $120 this year

and maybe 35 next year and $140 next

year and uh you know I I do believe that

the price of your is going to go up uh

when I started in the trade I thought

that we could hit at least the high of

2007 which is $140 a pound H I think

we're going to exceed that so if that is

true then I believe that these companies

in that group The cicos and the

developers are going to follow

suit however the the the Explorers have

really

lagged uh and and some of them

drastically dramatically and which which

is kind of normal in in in these

commodity Cycles uh you know the bigger

money that comes into the sector uh you

know they can only invest in certain uh

in companies that have a certain market

cap they'll invest in you know the the

companies that that are better known the

Blue Chips the better developers that

kind of thing so to see those names move

move first I think is normal in in a

commodity

cycle and I also understand that with

regards to the the Explorers like you

know people are like waiting for news on

the Explorers these the better names are

out there drilling they're trying to

find something and some of these

companies that these explorers that have

found something have been rewarded like

canalaska for example when they came out

with their great drill results in J in

January

right away they they had a rate in their

market cap and so you know uh so people

that held that that stock were rewarded

right away but when when the news flow

doesn't follow then you know interest

wains and then you know people say uh

I'm I'm going to wait for the next news

cycle with the Explorers so but at at

one point in time when I think the

generalist uh investor moves into the

sector and and and more money come flows

into the sector and and more interest

returns to the sector I think that these

uh these better quality smaller name

companies uh will benefit uh

tremendously yeah so I think the last

time I interviewed you you were mainly

in in the Explorers I mean you did have

you were kind of spread out but you were

mainly in the explor from the last time

I recall is that still the case now I I

have I haven't made any changes to my

portfolio

I'm very happy with my portfolio right

now I have uh the majority of my

portfolio is in uh about 10 or 11 uh

exploration companies uh then I have uh

two um past producers in the US and then

I have two development development

companies in in uh Africa gotcha what

has been your biggest winners and losers

within your portfolio in terms of

percent gain

uh well my biggest winner is um is I

started buying the shares at about 40

cents and uh I haven't checked today but

uh let me just look at it very quickly

it closed the day today

at where is at

$48 so that's a tenfold uh at their Peak

they were at about $6 a share so that

was a 15 fold what company is this it's

ISO

energy and my my worst performer

basically I'm flat uh so where I started

buying shares at about 5 cents a share

and it's gone up and it's backed down

and it's it's trading around that that

same kind of price gotcha

and what do you mind saying the company

name no I I don't want to I don't want

to do that because I you know at some

some interviews some some people ask me

to share names and they've attached me

to to those company names and I I just

don't want to do that yeah no worries um

so you know you and I Terry we've been

in this market for a long time you

longer than me for sure um there's

definitely a bunch of long-term

listeners but what would you tell a new

uranium investor someone who say you

know is looking at investing into into

this sector never heard of it before

what are some advice you would give them

given the market status at the moment

well the advice is you better know what

you're getting into uh you know do your

do your own due diligence do your

research um and there's way way way more

information out there than when I

started um you know back then most of

the information that was available was

um provided by the the companies

themselves on their websites and and

there were some YouTube videos and oh I

forgot to mention

when we first started other names that

were I I mentioned uh Trader Ferg and

Justin Hune and John Quakes and and

those kind of people and Andrew Weekley

but I forgot to mention Mike alen Mike

alen is you know the guru of the sector

he he's the one that really uh you know

when I when he started putting videos

and participating at these conferences

and it was like wow he's just saying

exactly he was confirming everything

that I was saying but in way more

in-depth research so and then there was

also Nick hodj back then and Gwen

Preston the resource Maven they were the

people that that were kind of talking

about uranium back then uh but uh anyway

so but to go back to your

question uh do your research H the other

thing is there's way more uh Vehicles

now that you can invest in uh compared

to when I started uh there when I

started there was no split there was a

uranium participation Corp uh which

which was bought out by Sprat but now

you have uh Sprat physical uranium trust

if you want to you know invest if just

in the metal itself then you could

participate in that there's um there's a

a royalty company now as well if you

want to there's only one in this sector

called uranium royalty corpor uh there's

uh there's other um uranium mutual funds

that didn't exist back then there was Ur

but that didn't fit my my needs but now

there's H there's uh Sprout has 2 the

uranium miners fund and uranium Juniors

fund so you could just part participate

that way uh and it mitigates your risk

and uh so I think that that's that's

what I would say is look at look at

these options and uh also you know

people like yourself uh that that

provide valuable uh you know content on

YouTube uh there's so much content now

that you can look at do that first uh

but I I don't think that this uh trade

is over uh by Longshot like I said I

think that the price of uranium is going

to continue to rise and as it rises I

think the equities will follow yeah so

you know you mentioned you know keeping

a breast on the various YouTube channels

that cover uranium to kind of have an

edge in terms of what's going on in the

sector what are some ways that you that

what are some methods and ways that you

kind of use to kind of research the

sector kind of stay a breast up to speed

with the sector well when I started uh

what I did is uh like like I said there

wasn't a lot of information watched some

videos went on the company websites blah

blah blah blah blah but I also started

participating in in some of the

conferences out there and I think that's

important as well I should have

mentioned that so thanks for following

up but I think that's really important

because I went to some conferences uh so

I met most of the CEOs if not all of the

CEOs of the companies that I invest in

uh some of them I I actually you know

I'll I'll send them at a text once in a

while uh I have actually dropped into

some of their offices uh to check out

like you know is there is there an

actual office here more than just an

address

somewhere uh but the other thing is so

you know most of these companies will

talk about hey you got to look at

management you got to look at the

projects you got to look at properties

you got to look at the past the history

the past performance all that kind of

stuff which is

true but but another thing that uh I

think is really really important

is does the company do especially for

the

Explorers do they do what they say

they're going to do so for example if

they're raising money that money that

they're raising what are they doing with

it is it going into the ground uh so a

lot of people don't understand what flow

through shares

one of the companies that I'm in just

announced uh I think it was today that

they did a raise and then they announced

uh that that raise had been

increased uh and then they talk about a

flow through in there and a lot of

people don't understand what that is

well a flow through is the money that

the company uh the shares that are

attached to flow through the money that

the raise through flow through shares

that money has to flow through it has to

be used to uh explore it has to be you

know spent it can't be spent on your

salary or your expenses to travel to

this and blah blah blah it has to be put

in the ground so do they do what they're

going to say what they say they're do

they're going to do so that that's an

important factor for me and any

newsletters that you read in

particular uh yeah Justin hes uranium

Insider is the best uh in the industry

it's it's it's devoted only to uranium

uh Justin and I have been in this for a

long time as I mentioned and uh so uh

it's the best I I really highly

recommend that one yellow bull has a

good one uh so and and you know some of

the YouTube channels like yourself your

your YouTube channel are are great at

providing information allegedly no I'm

just kidding well hey yeah I totally

agree on Justin Hune we I've been a big

reader of his for I think four years now

since I got into this sector we do have

a link to to his uh URL down below

through an affiliate link uh if you guys

are interested be sure to check that out

Terry thank you so much for coming on my

friend any concluding thoughts before we

sign

off well the concluding thoughts is um

and

again like this is just information for

newbies that want to come in is that

it's a very very volatile sector and

it's a roller coaster ride and even if

you tell yourself yeah you know I I I

know what I'm getting into and I know

that listen when you see the it's great

to go through the 10% days and and you

know we 2021 the fall of 2021 was

absolutely epic but as as much fun as

going up a lot in a single day going

down for months on end is is tough to go

through as well so you know you better

be convinced uh and if you're not

convinced you're going to lose money

because you're going to get in at the

wrong time and you're going to get out

at the wrong time so uh so that I think

those are my closing thoughts gotcha

yeah we do have your Twitter and X

handle on screen right now we'll also

have a down on the description link down

below any other socials you want to plug

oh that's it excellent well hey if you

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episode bye y'all