, 7 tweets, 2 min read Read on Twitter
1/ Some good insights from Scott Melbye at the $UEC presentation at the Sprott Natural Resource Symposium today. For those who don't know him, he has 35 yrs background in #uranium having worked for Uranium 1 and Cameco, as well as advising the Kazatomprom CEO. #SNRS19 #sprott2019
2/ He has just returned from a @NEI conference in Washington and meetings in White House with 9 of the 13 agencies involved in the US Nuclear Fuel Working Group. The following is his views, not mine...
3/ "Many of the [US] utilities said they intend to come back to market before year-end... Having said that, I'm amazed of the complacency of the US utilities".
4/ "We've seen them go from LT contracting, where they were very concerned about LT prices and supplies, to a period now where they are very focused on spot purchases, immidiate deliveries, or very short trader deals. They're doing the same mistake they did in the last cycle".
5/ [in the last cycle] "they contracted at high prices which they are only now growing out of".
6/ DOE told the working group they are good with uranium until late 2020's to 2030's. Dept of Defence said they need to have some uranium put into the budget for the 2021 budget cycle.
7/ He hinted defence procurements and tax credits for utilities buying US uranium were among the policy measures they were hoping for from the US Nuclear Fuel Working Group.
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