Segra Capital Management

Institutional investment framework applied to nuclear power, infrastructure & the energy transition. General market commentary only. Not investment advice.

[Art Hyde @JekyllCapital]

Big day! Remains our highest conviction investment in the #nuclear space. Congrats @xenergynuclear - proud to be an investor and supporter.

#uranium #cleanenergy

[Segra Capital Management @SegraCapital]

@SegraCapital has supported Alva since its founding because we saw something exceptionally rare: passionate founders leading a team that combines deep #nuclear engineering expertise with real world, large-scale project delivery experience. 

Excited to announce our investment.

[The Wall Street Journal @WSJ]

Exclusive: The startup Alva Energy says it knows how to kick-start the slumbering nuclear-power industry—and former Intel CEO Pat Gelsinger is backing its efforts https://t.co/CDumz6pUEg

[Segra Capital Management @SegraCapital]

Segra Capital is excited to announce General Fusion's decision to go public via SPAC. The markets are ready for Fusion! $SVAC #cleantech #Nuclear #NuclearPower #fusion
https://t.co/1JidSZtwng

[Segra Capital Management @SegraCapital]

@SegraCapital is excited to announce our strategic investment in @StudsvikAB

Studsvik is an under-appreciated leader in key verticals driving the nuclear power landscape. The future looks bright!

#uranium #nuclear #CleanEnergy #energysecurity

https://t.co/JSSzP8INOc

[X-energy @xenergynuclear]

We’re proud to announce that we have closed an oversubscribed Series D financing round of approximately $700 million.

This funding will enable us to accelerate the expansion of our supply chain and commercial pipeline, supporting our vision to deliver safe, reliable power with the Xe-100 alongside partners like Dow, Centrica, Amazon and Energy Northwest.

Thank you to our investors for your confidence in X-energy's role in shaping the future of energy.

Read the full release: https://t.co/jnfqAUUGN8

[X-energy @xenergynuclear]

X-energy raises $700M in Series C-1 to advance small modular nuclear tech. Investors include Segra Capital Management, Jane Street, Ares Management funds, and Emerson Collective, among others. The funding will drive reactor design, fuel fabrication, and carbon-free energy projects to meet demand for clean power. https://t.co/3fJnJk9VCW

@EmCollective @JaneStreetGroup @ares_management

[X-energy @xenergynuclear]

X-energy’s collaboration with @amazon reflects the bold vision of the Advanced Reactor Demonstration Program, accelerating progress to build the commercial market for advanced nuclear and helping to restore American nuclear energy leadership.

#Nuclear #CleanTech #Xenergy #DOE @ENERGY

[Segra Capital Management @SegraCapital]

Today we joined several of the world's largest financial institutions in pledging our support for #nuclear power - key to achieving #NetZero. This is the broadest coalition of financial supporters the industry has ever seen. Proud to be a part of this historic commitment.

[Art Hyde @JekyllCapital]

$KAP Headlines starting to roll...

Revised 2025 production guidance of 25,000 to 26,500 tons (equating to 65-68.9mmlbs).

This is a SIGNIFICANT CUT from prior 2025 guidance which was 100% of subsoil use (31,600 tons / over ~82mmlbs). A 14-17mmlb cut vs. what they projected 1 year ago due to acid availability and asset development issues.

Additionally - we get another CFO departure... continued turnover likely won't help with production. We've seen them guide and revise lower in year 4 out of the last 5 years...

#uranium #nuclear

[Art Hyde @JekyllCapital]

Bloomberg with a quote from AR...

"Investors Rush Into Uranium Miners on Kazakh Production Outlook"
- @SegraCapital sees ‘entire production curve’ guided down
-Uranium market is still undersupplied, BMO’s Pearce says

#nuclear #uranium

[Stephen Stapczynski @SStapczynski]

Singapore, US Sign Nuclear Power Pact
🇸🇬🤝🇺🇸

☢️ The nations inked a 123 Agreement, which is critical for investment by US nuclear firms
⚡ Singapore is studying options, including nuclear, to meet its 2050 net-zero target. It depends on gas right now
https://t.co/QvZCtLZeRS

[Art Hyde @JekyllCapital]

@business: “Record Payouts on Biggest U.S. Grid Signal Costs of Reliable Power”

PJM Capacity Pricing jumps 9x YoY from $28.82 to $269.92…

“The market has spoken and it’s saying you are going to have to pay a lot more for reliable power”

It’s time for NEW #NUCLEAR - keep your eyes out for more headlines as the summer progresses…

#uranium $CEG $VST

https://t.co/dLut88DuCR

[Art Hyde @JekyllCapital]

Anyone seriously going to tell me today's deal didn't get leaked by @cantorfitzgerld or a @Ur_Energy insider? Over 6mm shrs shorted over the last 2 weeks in an illiquid stock at the 52W lows... largest short selling increase in 5 years. This should be looked into by the @SECGov

#nuclear #uranium $URG

[Bloomberg Markets @markets]

President Biden signed legislation banning the import of Russian enriched uranium, starting a 90-day countdown until limits on shipments of the reactor fuel take effect https://t.co/TOjE7dZyGW

[Art Hyde @JekyllCapital]

@AlexMiningGuy - All the more impressive when you realize that @NAC_Kazatomprom #uranium sales for 2023 were heavily weighted toward Q1 (not typical) when realized prices were in the mid $40s -- on a forward basis the yield gets quite interesting for $KAP

[Art Hyde @JekyllCapital]

@WSJ - Kazatomprom’s Profit Surges on High Uranium Prices

"Demand for uranium—which is used to power nuclear reactors—has grown amid a global shift away from carbon-emitting fuels" #uranium #nuclear $KAP $KAP.LI @NAC_Kazatomprom

https://t.co/JorpTuPgyy

[Cameco Corporation @cameconews]

February 24, 2022 is a day the world changed for the people of Ukraine. Two years later, Cameco is still proud to #StandWithUkraine and help it achieve energy independence.

[Art Hyde @JekyllCapital]

@CG_Driven launches coverage on @NAC_Kazatomprom this morning.

“Center of the (U)niverse”

Good report - worth a read - IMO assumptions very conservative. Note Canaccord’s px deck continues to be stale vs other banks who recently upgraded commodity forecasts.

$KAP #uranium #nuclear

[Art Hyde @JekyllCapital]

Incredibly proud that @SegraCapital was a signatory to this historic pledge. The world needs new #nuclear and these companies are leading the way. Lets go!

#uranium #cleanenergy #COP28 @WorldNuclear

[NexGen Energy Ltd. @NexGenEnergy_]

$NXE’s 2023 Site Infrastructure Program includes a 200-bed camp expansion to support increased activities at the Rook I Project in the coming years, while maintaining $NXE’s elite Health, Safety, Environment, and Quality standards.
#thisisnexgen @leighcuryer @travmcph