Sorry this is a bit later today; am over in #Perth, #westernaustralia .
Spot #uranium finally got its groove back; so after a very mixed day on #ASX yesterday; expect a bit more positivity today. So what caused that? See below. #asxnews#nuclear#investing $cxu
Global news
1. Spot price gapped up a chunky $4 overnight; biggest move in a month.
2. @ENERGY secretary @SecGranholm came out strongly encouraging the Senate to pass that Russian uranium ban; might have lit a fire there!
3. Uranium guru @quakes99 announced he is going to be slowing down on the computer work for a little while to recharge his ageing batteries (his assertion, not mine!). Rest up John; for I am sure there will be more excitement in the U market just around the corner; and you won’t be able to resist and will be back at it!
4. @BillGates@TerraPower pushing hard to fast track its next gen nuclear plant in the US; with construction aimed to commence in June. You know where they are going to put it? Next to an old coal plant. Yes; @Bowenchris and Labor don’t want you to believe it, but coal to nuclear is actually starting to be a real thing. Terra are pushing a sodium cooled designed which lower costs - Half the costs of a normal water reactor. #Nice
#Auspol and #aussie news
1. The level of media attention on the Nuclear as part of the energy mix question has reached fever pitch. No doubt there is public interest there at the conceptual level; key is how @PeterDutton_MP can follow through with details in the policy to transfer conceptual interests to votes at the box.
2. From @SkyNewsAust ; with guest Australian contributing economics editor Judith Sloan: Laughing again at the hypocrisy of @bowenchris being worried about lifting the ban because potentially nuclear investors could expect government support; at a time where the annual subsidy paid by government to the renewable energy sector is estimated to be $16bn.
3. @ABCaustralia today #factchecking Bowen’s claim of ultra long construction times on nuclear. Ministers office has admitted that he “only uses the 3 reactors built between 1991 and 2002 in his calculation”, which just happens to be when the nuclear industry was on life support. Our Energy Minister deliberately using ridiculous data to try and sway the electorate? No surprise. But still. #shame. Surely even his own side must realise this approach risks costing the government votes. See https://t.co/o1xCMcrSLa
4. There has been more than a few calls for a plebiscite of sorts on ending the nuclear energy ban; there is precedent around the world for this kind of thing. Given what a big election issue this seems to be shaping up to be; perhaps the election will be this defacto.
5. @CSIRO Chief Executive Douglas Hilton has been in the media defending the #GenCost modelling again following further commentary from Mr Dutton on the completeness of the costs modelled. Mr Dutton is not the only one firmly of the view that GenCost does not provide the full picture… He has been saying we should “trust in science”. I couldn’t agree more - more science, less ideology. Is CER fully costed; or is that just assumed to be paid for by consumers so its free?
6. @jpequitypartner Going Nuclear is on tonight at Steve’s in Nedlands. Head down to hear us speak; there may even be a few pollies in the crowd…
7. I know there are arguments on both sides here. And different views are fine. However, where there is a complete logic breakdown it should be called out. This is a passage from the @climatecouncil website I was just reviewing (always good to understand both sides of an argument – I would recommend everyone #DYOR) which strongly opposes nuclear and says pure renewables is the answer “Unlike coal and gas, no greenhouse gas pollution is created in the operation of the nuclear reactor. However, all other steps involved in producing nuclear power – from mining, to construction, decommissioning and waste management – result in greenhouse gas pollution.” Yes, uranium needs to be mined and is therefore technically a finite resource (although we can recycle spent fuel). But my god do proponents of “renewable” energy not realise that solar panels and wind turbines also need a heap of materials that also are absolutely finite, and infact are hazardous, and need to be mined and processed as well? The utter lack of understanding around the levels of mining and processing and waste involved in renewables is stark. Per MWh produced, nuclear actually has much lower waste, much lower raw materials to be mined; andmuch lower ground disturbance footprint. Hence today’s #meme.
#ASX news
1. Big news that $ERA @Energy_Res_Aus (backed by $RIO @RioTinto ) has lodged an application for the renewal of the massive Jabiluka lease in the NT; much to the concern of the local indigenous groups (Mirarr Traditional Owners). Market loved it, pushing ERA up 10%
2. $DYL @DeepYellowLtd has been issuing securities! Has a great day up 7%
3. $C29 announced an interesting deal, picking up a historic U project in #Kazakhstan. I know this asset and vendor team; who are actually very well credentialled; so I will be keeping an eye on it. Its now on my watchscreen.
4. $PEN @PEN_Energy had a nice little spike over last couple of days with release of a new company presentation; but settled back down 8% today. With so many oppies at the money now; am sure Pen will be wanting to push a bit higher and start reaping all those conversions…
5. $CXU we put out some initial aircore drilling results from Melrose (nickel polymetallic). I am pretty happy with them – shows there is something there worthy of further investigation; on something where we previously got zero value in the share price for it; Not a distraction from uranium but just something on the side. Market may have been a bit lost on that; as the announcement finally got through asx platform very late in the day; apologies for that.
6. ASX U shorts –$DYL at 7th most shorted ASX stock at 8.06%, by comparison, $PLS @PilbaraMinerals remains top ranked with 20.38% short. $PDN storms up the chart to 19 with 5.71% (up 3.73%) $SLX back to 39th with 4.04%. $BOE @Boss_Energy creeps back in at 99 with 2.11%.
As always, please comment below on any I have missed, follow this account to keep up to date and share with your friends & associates.
@quakes99@patrickadownes@SloCan68@uraniuminsider@Swedish_uranium@UraniumEquities@AsennaWealth@StarDestr0yer@Anonymo21140362@Guv999@UraniumSir@UraniumTrends @U_Ag_ @INN_Uranium@ASX_invest@sprott@yellowbull11@urtokencorgi@capnek123@bhavdip143@brandon_munro@jpoco722
For more on the progress at $CXU, don’t hesitate to DM me or reach out via email, my contact details are on every one of our announcements.
Cheers, Jono
Australian’s hostile policy position on nuclear power is an international embarrassment.
Today the Belgium PM pointed out Australia’s absence at the at the @iaeaorg’s first World Nuclear Summit:
🇧🇪Belgium PM: “Every continent is present except for Australia”
As the world goes nuclear, our decision makers must forgo their hubris to think that we can get away with ignoring the potential of nuclear power.