Last Wednesday, on June 29th, I was joined by Paul Goranson, a uranium sector veteran and CEO of enCore energy, who recently signed their third uranium delivery contract.
This was an important talk in which Paul shone a light on the inner workings of the uranium industry and contracting cycle.
Mr. Goranson also shared his thoughts on the geopolitical situation around uranium, the Canadian uranium ban, and its effect on the price of uranium.
enCore’s CEO told me that he expects the contracting cycle in uranium to start ramping up soon, and mature throughout 2023, and that he expects the effects of the Russian uranium ban to remain a thing for about four to five years.
Antonio Atanasov is not an investment advisor. Antonio Atanasov owns shares of companies mentioned in this publication. The information provided in this publication – and all other publications by Resource Talks – is impersonal in nature and meant for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple licensed, experienced, and qualified investment advisors. Get numerous opinions before taking your own decision in the end. The minimum risk on any investment mentioned in this publication is 100% loss of capital.
Shortly: you will lose all of your money and possibly most of your brain cells if you listen to talking heads on the internet. Especially if they have orange hair and no experience (me).
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00:00 Important warning
02:15 Are we in a buyer’s or a seller’s market in uranium contracting?
07:30 Why can’t enCore share the pricing of the contract?
14:00 Why didn’t enCore wait for the price of uranium to go higher before signing contracts?
17:00 Are other US companies going to sign contracts soon?
18:50 Is enCore undervalued right now?
19:40 Will enCore be buying other uranium companies soon?
22:40 Is enCore looking only for ISR projects?
24:00 The processing plant and the strategy around it
27:00 Is enCore still producing uranium at under $40/lbs?
31:55 Is enCore the lowest-cost uranium producer?
35:00 Why is uranium expensive to produce?
39:00 enCore’s cash & debt situation & capital raising plans
40:00 Is enCore still holding physical uranium?
42:30 enCore’s expenses are rising, is that an issue?
47:30 When will the uranium market get going?
51:10 Are the geopolitical issues a short-term phenomenon?
53:00 The effect of the uranium ban on the uranium price
56:30 How does Paul Goranson invest his money in uranium stocks?
58:30 How important is US domestic uranium production?
01:01:00 Antonio overstays his welcome
Was there something wrong with what the guest said? Did I fail to ask an important question? Did I make a mistake in my reporting? Please tell me about it. Criticism and skepticism are highly welcome and help me learn. Thank you.