U308 Renaissance Man

[U308 Renaissance Man @U308RM]

@quakes99 The Goldman forecast of a cumulative net #uranium shortfall of 0.211 billion pounds seems potentially too low to me by orders of magnitude. Its already too late but will be even too later by the time the market realizes the actual potential shortfalls. #nuclear

[U308 Renaissance Man @U308RM]

Europe thinks they may have made a mistake phasing out #nuclear. Too funny. “While in 1990 one-third of Europe’s electricity came from nuclear, today it is only close to 15%,” she said at the Nuclear Energy Summit in Paris on Tuesday. “I believe that it was a strategic mistake for Europe to turn its back on a reliable, affordable source of low-emissions power.” #uranium https://t.co/5y2aXiD99H

[U308 Renaissance Man @U308RM]

3/ The first mini extension until 2030 on Almaraz should by a lay up since licenses are already in place until then and the need is compelling. Spain has a total of 7 reactor representing 7 GWe of power so if they all got extended, there would be a material increase in #uranium demand at a time when there are already deep structural deficits. #nuclear

[U308 Renaissance Man @U308RM]

1/ On their Q4 conference call Endesa gives a strong argument for extending the Almaraz NPP In Spain and concludes they are confident extensions will be granted. #nulcear #uranium From the transcript...
"Technical reason -- let me say, on the one hand, it makes no sense for group belonging to the same plan closing in different years. That is -- and you know that it was expected, the close of Almaraz 1 in the year '27 and 2 in the year '28. The second thing is that the interim storage facility, the so-called ATI, will not be completed until 2030 at the earliest, and nuclear waste cannot be managed until then, so it has sent just to delay a little. On the other hand, there is a significant delay in the deployment of storage and wind power also. The system requires synchronous generation to manage both frequency and voltage, and the energy balance up to 2030 would be more balanced, if you will, one, and secure, and with less energy dependence if we continue with these power plants.
With regard to the environmental reason, the closure of the nuclear power plants would not lead to a slower growth in renewables, but rather to an increase in combined cycle production and, consequently, in emission. And the economic reason, Marco has said, maintaining nuclear power generation reduce the cost of the electricity market. So, all in all, we have asked to the ministry just to delay the shutdown of Almaraz. We are confident that it would be done."

[John Quakes @quakes99]

💥📰#Spain is headed towards a major #Nuclear phase-out reversal↪️ as planned shutdown of all 7 of its reactors (7.1 Gigawatts) starting in 2027🇪🇸⚛️📉 has now reversed to seeking operating life extensions for its entire Nuclear fleet!⤴️⚡️🤠🐂 #Uranium 🌊🏄https://t.co/0UgsyGulAk

[U308 Renaissance Man @U308RM]

2/ Given the compelling logic for the extension including lower power prices, less carbon emissions, a more stable grid and other benefits IMO it will be granted. The first request was for 2 reactors but they will apply for extensions for all six reactors they have a stake in. #uranium #nuclear

[U308 Renaissance Man @U308RM]

2/ Taiwan looks to be heading to restart #nuclear and IMO Spain will find religion to life extend. Power growth everywhere is crushing naive ideology. Spain still thinks batteries can solve for intermittency but the cost and scale is not there yet and likely won't be anytime soon. #uranium

[U308 Renaissance Man @U308RM]

1/ Diablo went from guaranteed shutdown to 5 year emergency extension and now with state approvals in hand, the likely mid-year NRC approval to continue operation to 2045 creating lots more #uranium demand. Like Diablo IMO we will also see material surprise #uranium demand from Taiwan and Spain all into the teeth of a major structural shortage. #nuclear

[U308 Renaissance Man @U308RM]

1/ The PG&E roadmap to saving Diablo from their Q4 presentation that resulted in material near-term #uranium demand and an RFP for over 5m lbs. Life extensions will continue to happen globally and the impact on U demand is near-term and huge.

[U308 Renaissance Man @U308RM]

2/Recent blackouts demonstrate that Spain desperately needs the baseload electricity #nuclear provides. Potentially another 30m lbs of #uranium demand by 2040 that is already in a big structural deficit.

[U308 Renaissance Man @U308RM]

1/Taiwan appears to have returned to its senses. Next up could be Spain. The current government is committed to the total shut-down by 2035 but elections are 18months away and the right wing parties leading in the poles strongly support #nuclear as a key pilar to their platform. Industry loves it and it would lower consumer electricity prices. This could be another mini uranium demand shock. #uranium

[U308 Renaissance Man @U308RM]

1/ A propsal to reverse Spain's #nuclear phase-out was adopted by parliament in February. It is gaining support.#uranium https://t.co/effyZu6JPd

[U308 Renaissance Man @U308RM]

5/The 4 potential restarts add another potential 22m lbs of #uranium by 2040. 30m lbs+ if they also finish and start Lungmen which isn't on the table today but IMO opinion a good chance it will be soon given the likely dire energy shortage in Taiwan driven by 12% annual growth in electricity demand. Excited to see the restart plans expected this month! #nuclear

[U308 Renaissance Man @U308RM]

1/Crazy that Taiwan thought it was a good idea to shut down their nukes but they have seen the light. Our chosen leaders are doing a great disservice to the populace with non sensical policy decisions. The world is currently getting another lesson in the energy security #nuclear provides. #uranium
https://t.co/GP6cSM18Dq

[U308 Renaissance Man @U308RM]

1/Taiwan sends the signal that yet another nuclear power plant is likely to be saved. Since scheduled to shutdown in 2025, it will add to immediate #uranium demand and restocking if extended.

[U308 Renaissance Man @U308RM]

4/ The 2 Maanshan restarts are Westinghouse PWRs so another nice potential business opportunity for Cameco $CCJ. Crazy that the government myopically pursued a #nuclear free by 2025 strategy only to immediately reverse course. #uranium

[U308 Renaissance Man @U308RM]

$UEC was the target of one of the worst short reports ever! Separate from the outcome, the report's contents, logic and substance was absolute garbage. A gift to Amir and Scott (CEO & EVP) who both bought stock on weakness. Kerrisdale said it was worth $350m and here we are 2.5 yrs later with a 5x return and mkt cap of $8.6b. Hats off to $UEC #uranium

[U308 Renaissance Man @U308RM]

1/ The Kerrisdale report on $UEC was highly flawed. The #uranium price was around $50 when the report came out. Its now $57. They said a full S/D discussion was beyond the scope - Literally the most import thing! As this flaw becomes more evident prepare for a short squeeze!

[U308 Renaissance Man @U308RM]

@omnipotent32 @SloCan68 Since ghosted us on X but the internet lives on.

[U308 Renaissance Man @U308RM]

1/ Noteworthy that Doug said that Cigar Lake made the fatal mistake of drifting instead of cross cutting under the ore at the next phase and the grade is also turning lower. He then disappeared off X again. Fatal was an interesting choice of words. #uranium

[John Quakes @quakes99]

Uh-oh!🤨 Retired Cameco Senior Mine Engineer, Doug Beattie, is saying that Cameco is having more problems with their production efforts at the Cigar Lake #Uranium mine.🇨🇦⚛️⛏️ Hmmmm...🤔

[U308 Renaissance Man @U308RM]

8/ Engineers and former senior mining engineers at Cameco aren't typically known for their hyperbole so when I hear the term "fatal" I am on high alert. A large disruption at Cigar would cause some excitement in the spot market. #uranium

[U308 Renaissance Man @U308RM]

7/ Cigar is 18m lbs per year so any issues are relevant to the global market. Cigar Phase 2 is important for $CCO and they have started development work to facilitate the phase 2 extension that extends mine life to 2035. The market needs CLEXT supply. #uranium