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>>> Centrus Reports Third Quarter 2023 Results
PR Newswire
November 7, 2023
https://finance.yahoo.com/news/centrus-reports-third-quarter-2023-221500136.html
Began production of High-Assay Low-Enriched Uranium (HALEU) in October 2023 and Completed Phase I of Department of Energy contract in November 2023.
Annuitized $186.5 million of pension plan obligations for 1,400 beneficiaries, de-risking balance sheet and improving the capital structure
Net income of $8.2 million on $51.3 million in revenue, compared to net loss of $6.1 million on $33.2 million in revenue in Q3 2022
Consolidated cash balance of $183.3 million as of September 30, 2023
BETHESDA, Md., Nov. 7, 2023 /PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU) ("Centrus" or the "Company") today reported third quarter 2023 results. The Company reported net income of $8.2 million for the three months ended September 30, 2023, compared to a net loss of $6.1 million for the three months ended September 30, 2022. The net income per common share in the three months ended September 30, 2023 was $0.53 (basic) and $0.52 (diluted).
"Centrus made history on October 11, inaugurating the first new U.S.-technology, U.S.-owned uranium enrichment plant to begin production since 1954," said Centrus President and CEO Daniel B. Poneman. "Our team completed this work under budget and ahead of schedule, proving once again our ability to execute on complex, mission-critical projects. As we pursue our goal of expanding the plant to meet the full range of commercial and national security requirements for enriched uranium, we are heartened by the growing momentum in Congress and the Administration to support a major federal investment in restoring America's domestic enrichment capacity. Centrus stands ready to do our part to help reclaim America's global leadership in nuclear fuel production."
The quarter also demonstrated Centrus' critical role in the supply chain to deploy advanced nuclear reactors through the Memoranda of Understanding concluded with TerraPower and Oklo.
Our financial results vary from quarter to quarter based on the timing of contracted deliveries and the specific contract terms. The majority of our LEU contracts are multi-year arrangements in which customers have annual purchase obligations, but can choose in which quarter to take delivery. We record the revenue and cost of sales in the quarter when deliveries are made, which can vary throughout the year, but tends to even out on an annual basis.
Financial Results
Centrus generated total revenue of $51.3 million and $33.2 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $18.1 million.
Revenue from the LEU segment was $40.5 million and $20.2 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $20.3 million. The increase was due to the $32.8 million increase in SWU revenue, partially offset by the $12.5 million decrease in uranium revenue for the three months ended September 30, 2023. The increase in SWU revenue was due to an increase in the volume of SWU sold and an increase in the average price of SWU sold.
Revenue from the Technical Solutions segment was $10.8 million and $13.0 million for the three months ended September 30, 2023 and 2022, respectively, a decrease of $2.2 million. The decrease was primarily related to the transition from the HALEU Demonstration Contract to the HALEU Operation Contract in late 2022. For the three months ended September 30, 2023, the HALEU Operation Contract generated $8.9 million in revenue. The HALEU Demonstration Contract generated $1.3 million in revenue for the three months ended September 30, 2023, compared to $11.7 million in revenue for the same period in 2022.
Cost of sales for the LEU segment was $30.4 million and $18.9 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $11.5 million. The increase was due to a $23.9 million increase in SWU costs, partially offset by a $12.4 million decrease in uranium costs. The increase in SWU costs reflected an increase in the volume of SWU sold and an increase in the average unit cost of SWU sold. Cost of sales for the three months ended September 30, 2023 included $0.6 million for the revaluation of inventory loans.
Cost of sales for the Technical Solutions segment was $9.6 million and $12.0 million for the three months ended September 30, 2023 and 2022, respectively, a decrease of $2.4 million. The decrease was related to a decrease of $10.8 million of costs associated with the HALEU Demonstration Contract signed in 2019 and a decrease in costs of approximately $1.0 million associated with other contracts, partially offset by $9.4 million of costs incurred for the HALEU Operation Contract signed in 2022.
Gross profit for the Company was $11.3 million and $2.3 million for the three months ended September 30, 2023 and 2022, respectively. The increase for the three months ended September 30, 2023 was due primarily to the specific contract and pricing mix of SWU contracts and the timing of their deliveries quarter over quarter. This was reflected by an increase in the volume of SWU sold and an increase in the average profit margin per SWU.
HALEU Update
On September 6, 2023, the Company announced that it was conducting final system tests and other preparations so that production of HALEU could commence at our American Centrifuge Plant in Piketon, Ohio. On September 21, 2023, the Nuclear Regulatory Commission granted final approval for the Company to produce the quantity of HALEU required by Phase 1 of the contract. On October 11, 2023, the Company announced the beginning of enrichment operations. On November 6, 2023, the Company completed production of the initial 20 kilograms of HALEU UF6 under Phase 1 of the HALEU Operation Contract. In Phase 2 of the contract that has a cost-plus-incentive-fee structure, Centrus is required to produce 900 kilograms of HALEU UF6. The Department of Energy takes delivery of the HALEU on site in Piketon and is obligated to provide the HALEU storage cylinders to collect the HALEU from the cascade; Centrus has constructed a storage facility where the HALEU will be kept until it is needed.
TerraPower and Oklo Memoranda of Understanding
In July and August, 2023, the Company signed memoranda of understanding with TerraPower and Oklo, respectively, to support the deployment of additional HALEU production capacity in Piketon, Ohio subject to negotiating definitive agreements. Centrus and TerraPower will collaborate to ensure that TerraPower's Natrium demonstration reactor has access to HALEU at the milestones necessary to meet the TerraPower project's 2030 operation date. Centrus and Oklo will collaborate on activities including Oklo's purchase of HALEU and manufactured components from Centrus, and Centrus' purchase of electricity from Oklo's planned Aurora powerhouses in Piketon, Ohio.
Pension Annuitization
On October 12, 2023, the Company entered into an agreement to purchase a group annuity contract for one of its pension plans and transfer approximately $186.5 million of its pension plan obligations, or 41% of its obligations for the plan, based on the December 31, 2022 valuation, to an insurer. The purchase of the group annuity contract was funded directly by the assets of the pension plan of approximately $171.4 million. The purchase resulted in a transfer of administrative and benefit paying responsibilities for approximately 1,400 beneficiaries to the insurer. Centrus believes this move will de-risk its balance sheet by reducing its risk for current and future liabilities at no detriment to pensioners. The Company estimates that the income related to the pension settlement recognized in the fourth quarter will be approximately $15.1 million, dependent upon the completion and final pricing of the annuity transaction The settlement charge will be recognized in nonoperating components of net periodic benefit loss (income) in our consolidated statements of operations.
About Centrus Energy Corp.
Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.
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>>> Centrus Makes First HALEU Delivery to U.S. Department of Energy
PR Newswire
November 7, 2023
https://finance.yahoo.com/news/centrus-makes-first-haleu-delivery-113000606.html
BETHESDA, Md., Nov. 7, 2023 /PRNewswire/ -- Today, Centrus Energy Corp. announced that it has made its first delivery of High-Assay, Low-Enriched Uranium (HALEU) to the U.S. Department of Energy, completing Phase One of its contract with the Department by successfully demonstrating its HALEU production process. Centrus will now move on to Phase Two of the contract – requiring a full year of HALEU production at the rate of 900 kilograms per year at its American Centrifuge Plant in Piketon, Ohio.
"Centrus is proud to be pioneering American HALEU production, with our first delivery of the fuel that is urgently needed to support the demonstration and commercialization of advanced reactors," said Centrus President and CEO Daniel B. Poneman. "This critical milestone is essential to meeting the Department's near-term HALEU needs, while laying the groundwork for the full restoration of America's lost domestic uranium enrichment capacity. We are committed to working with the Department and industry to build a public-private partnership so that we can scale up production in the coming years to meet the full range of commercial and national security requirements for enriched uranium."
"Our HALEU team has worked exceptionally hard to complete this project ahead of schedule and under budget – showing we can execute on big, complicated projects and deliver value to our customers," said Centrus Senior Vice President of Operations Larry Cutlip. "We are grateful to have had the opportunity to demonstrate and expand our capabilities and expertise over the course of this work and look forward to embarking on the next phase of this important effort."
Under a competitively awarded, cost-share contract signed with the U.S. Department of Energy in 2022, Centrus was required to begin production of HALEU by the end of this year. Centrus began enrichment operations in October – two months ahead of schedule. By completing delivery of more than 20 kilograms of HALEU to the Department, Centrus has finished Phase One of the contract. The Department takes delivery of the HALEU on site in Piketon and is obligated to provide the HALEU storage cylinders to collect the HALEU from the cascade; Centrus has constructed a storage facility where the HALEU will be kept until it is needed.
Phase One included a 50 percent cost share requirement for Centrus, with the company and the Department each contributing about $30 million of the $60 million overall cost. In Phase Two of the contract, the Department will pay Centrus on a cost-plus incentive fee basis for the HALEU the company produces.
HALEU is an advanced nuclear fuel required for most of the next-generation reactor designs currently under development. The capacity of the 16-centrifuge cascade is modest – about 900 kilograms of HALEU per year – but with sufficient funding and offtake commitments, Centrus could significantly expand production. A full-scale HALEU cascade, consisting of 120 centrifuge machines, with a combined capacity to produce approximately 6,000 kilograms of HALEU per year (6 MTU/year), could be producing HALEU within 42 months after securing the necessary funding. With appropriate support, Centrus could add a second HALEU cascade six months later and subsequent cascades every two months after that. That would mobilize hundreds of union workers in Ohio to build and operate the plant, while supporting thousands of direct and indirect jobs across a nationwide manufacturing supply chain. The Piketon facility has ample space for the thousands of machines that will be needed to meet the growing demand for enriched uranium in the decades to come.
About Centrus Energy
Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.
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Sorry to see you leaving, but I guess spending more time with your girlfriend is a great alternative :o) Hopefully you will return to posting here on I-Hub, at least occasionally. As the ancient saying goes -- 'Everything in Moderation' :o) I will miss you.
Here's hoping the world situation improves. Things go in cycles, as the song says - 'There is a season and a time for every purpose' -
Gfp, I am alive, but leaving stock boards. Computer broke down and I don't miss it all much, and girl friend moving in with me and not so much free time. The whole world so messed up, nothing is safe in investing, IMO, maybe paper money, from a while any way. You are a goodman, been nice posting with you.
>>> An Iranian nuclear facility is so deep underground that US airstrikes likely couldn’t reach it
Associated Press
BY JON GAMBRELL
May 22, 2023
https://apnews.com/article/iran-nuclear-natanz-uranium-enrichment-underground-project-04dae673fc937af04e62b65dd78db2e0
DUBAI, United Arab Emirates (AP) — Near a peak of the Zagros Mountains in central Iran, workers are building a nuclear facility so deep in the earth that it is likely beyond the range of a last-ditch U.S. weapon designed to destroy such sites, according to experts and satellite imagery analyzed by The Associated Press.
The photos and videos from Planet Labs PBC show Iran has been digging tunnels in the mountain near the Natanz nuclear site, which has come under repeated sabotage attacks amid Tehran’s standoff with the West over its atomic program.
With Iran now producing uranium close to weapons-grade levels after the collapse of its nuclear deal with world powers, the installation complicates the West’s efforts to halt Tehran from potentially developing an atomic bomb as diplomacy over its nuclear program remains stalled.
Completion of such a facility “would be a nightmare scenario that risks igniting a new escalatory spiral,” warned Kelsey Davenport, the director of nonproliferation policy at the Washington-based Arms Control Association. “Given how close Iran is to a bomb, it has very little room to ratchet up its program without tripping U.S. and Israeli red lines. So at this point, any further escalation increases the risk of conflict.”
The construction at the Natanz site comes five years after then-President Donald Trump unilaterally withdrew America from the nuclear accord. Trump argued the deal did not address Tehran’s ballistic missile program, nor its support of militias across the wider Middle East.
But what it did do was strictly limit Iran’s enrichment of uranium to 3.67% purity, powerful enough only to power civilian power stations, and keep its stockpile to just some 300 kilograms (660 pounds).
Since the demise of the nuclear accord, Iran has said it is enriching uranium up to 60%, though inspectors recently discovered the country had produced uranium particles that were 83.7% pure. That is just a short step from reaching the 90% threshold of weapons-grade uranium.
As of February, international inspectors estimated Iran’s stockpile was over 10 times what it was under the Obama-era deal, with enough enriched uranium to allow Tehran to make “several” nuclear bombs, according to the head of the International Atomic Energy Agency.
President Joe Biden and Israel’s prime minister have said they won’t allow Iran to build a nuclear weapon. “We believe diplomacy is the best way to achieve that goal, but the president has also been clear that we have not removed any option from the table,” the White House said in a statement to the AP.
The Islamic Republic denies it is seeking nuclear weapons, though officials in Tehran now openly discuss their ability to pursue one.
Iran’s mission to the United Nations, in response to questions from the AP regarding the construction, said that “Iran’s peaceful nuclear activities are transparent and under the International Atomic Energy Agency safeguards.” However, Iran has been limiting access for international inspectors for years.
Iran says the new construction will replace an above-ground centrifuge manufacturing center at Natanz struck by an explosion and fire in July 2020. Tehran blamed the incident on Israel, long suspected of running sabotage campaigns against its program.
Tehran has not acknowledged any other plans for the facility, though it would have to declare the site to the IAEA if they planned to introduce uranium into it. The Vienna-based IAEA did not respond to questions about the new underground facility.
The new project is being constructed next to Natanz, about 225 kilometers (140 miles) south of Tehran. Natanz has been a point of international concern since its existence became known two decades ago.
Protected by anti-aircraft batteries, fencing and Iran’s paramilitary Revolutionary Guard, the facility sprawls across 2.7 square kilometers (1 square mile) in the country’s arid Central Plateau.
Satellite photos taken in April by Planet Labs PBC and analyzed by the AP show Iran burrowing into the Kuh-e Kolang Gaz La, or “Pickaxe Mountain,” which is just beyond Natanz’s southern fencing.
A different set of images analyzed by the James Martin Center for Nonproliferation Studies reveals that four entrances have been dug into the mountainside, two to the east and another two to the west. Each is 6 meters (20 feet) wide and 8 meters (26 feet) tall.
The scale of the work can be measured in large dirt mounds, two to the west and one to the east. Based on the size of the spoil piles and other satellite data, experts at the center told AP that Iran is likely building a facility at a depth of between 80 meters (260 feet) and 100 meters (328 feet). The center’s analysis, which it provided exclusively to AP, is the first to estimate the tunnel system’s depth based on satellite imagery.
The Institute for Science and International Security, a Washington-based nonprofit long focused on Iran’s nuclear program, suggested last year the tunnels could go even deeper.
Experts say the size of the construction project indicates Iran likely would be able to use the underground facility to enrich uranium as well — not just to build centrifuges. Those tube-shaped centrifuges, arranged in large cascades of dozens of machines, rapidly spin uranium gas to enrich it. Additional cascades spinning would allow Iran to quickly enrich uranium under the mountain’s protection.
“So the depth of the facility is a concern because it would be much harder for us. It would be much harder to destroy using conventional weapons, such as like a typical bunker buster bomb,” said Steven De La Fuente, a research associate at the center who led the analysis of the tunnel work.
The new Natanz facility is likely to be even deeper underground than Iran’s Fordo facility, another enrichment site that was exposed in 2009 by U.S. and other world leaders. That facility sparked fears in the West that Iran was hardening its program from airstrikes.
Such underground facilities led the U.S. to create the GBU-57 bomb, which can plow through at least 60 meters (200 feet) of earth before detonating, according to the American military. U.S. officials reportedly have discussed using two such bombs in succession to ensure a site is destroyed. It is not clear that such a one-two punch would damage a facility as deep as the one at Natanz.
With such bombs potentially off the table, the U.S. and its allies are left with fewer options to target the site. If diplomacy fails, sabotage attacks may resume.
Already, Natanz has been targeted by the Stuxnet virus, believed to be an Israeli and American creation, which destroyed Iranian centrifuges. Israel also is believed to have killed scientists involved in the program, struck facilities with bomb-carrying drones and launched other attacks. Israel’s government declined to comment.
Experts say such disruptive actions may push Tehran even closer to the bomb — and put its program even deeper into the mountain where airstrikes, further sabotage and spies may not be able to reach it.
“Sabotage may roll back Iran’s nuclear program in the short-term, but it is not a viable, long-term strategy for guarding against a nuclear-armed Iran,” said Davenport, the nonproliferation expert. “Driving Iran’s nuclear program further underground increases the proliferation risk.”
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>>> Centrus Energy Corp. (LEU) supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.
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>> reasons stocks will go up? >>
On the plus side, the Fed is almost done tightening, inflation has come down a lot, and the economy has been resilient. And near term, I think the Fed has been trying to prop up the market to offset the bearish effects from the Israel-Hamas war. It appears the PPT / Plunge Protection Team stepped in, and several Fed Governors issued dovish guidance, so an attempt to prevent a selloff due to the war.
On the negative side, there are lots of reasons to stay out of the market and collect the easy 5% in cash / T-Bills. Tough to say, but probably not a time to stick one's neck out too far. Fwiw, I'm sitting at 18% for the stock allocation, so fairly low, and also decided to put it exclusively in the S+P 500 instead of individual stocks / sector ETFs. The long term goal will be to maintain a 20% stock allocation, but still a 'work in progress'. It sure seems like a tough time to be an investor, but at least cash and bonds are now paying a good % rate, so less reason to be in stocks.
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What reason is there that stocks will go up? The fact that is has not gone down with all the bad news is suspicious. IMO the powers that be are convincing the sheeple to not worry about a crash? Most moving averages are at some kind of support line, either flat or rising bottom. They don't want a crash too close to the cheatlection, so watch out soon?
https://finviz.com/futures_charts.ashx?t=ER2&p=w
URA made a triple top?
https://stockcharts.com/h-sc/ui?s=URA&p=D&yr=5&mn=0&dy=0&id=p47054114064
Fwiw, I decided to exit my nuke positions (LEU, URA, URNM, NLR). They were only tiny amounts, but I just don't have a good feel for this sector. Hopefully nuclear power continues its apparent turnaround, but it isn't too hard to imagine seeing Iran's nuclear plants targeted for destruction by US / Israel in the not too distant future. That would be a major setback for nuclear power, seeing how vulnerable these plants are to attack, and how big parts of a country can be made radioactive ala Chernobyl. Anyway, too many unknowns and landmines in this sector imo.
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>> big oil be behind an accident or 2 <<
Looking at who would benefit, derailing nuclear power would mainly benefit the US/West globalists They already don't like nuclear, and even more now since nuclear is such a big part of the appeal of joining BRICS. One way to derail BRICS expansion would be to remove nuclear power as an option for these emerging countries. So if desperate enough, the globalist ghouls would deliberately blow up a nuclear plant or two to 'poison the well' for nuclear power generally.
For example, they stage an event where a 'terrorist' group destroys a nuclear plant in an emerging country, thus demonstrating the extreme vulnerability of having nuclear in your country, and the devastating effects if a country's enemies decide to target their shiny new nuke plant. This would instantly reverse the appeal of nuclear power, and thus remove a key motivation for joining BRICS. For emerging countries, nuclear power is extremely attractive and has tons of advantages, but not if the plant can be easily blown up by your regional rivals or domestic enemies. A chunk of your country ends up like Chernobyl -- irradiated and uninhabitable for 1000 years, So these emerging countries decide to forget it, and stick with natural gas, solar, anything but nuclear.
Anyway, this is one possible NWO strategy for not only derailing BRICS expansion, but also for preventing nuclear proliferation. Another broad goal is to prevent emerging countries from modernizing too much, thus keeping them weak and easily exploitable. The globalists mainly are interested in controlling the mineral riches found in these emerging countries, and want the country to have enough infrastructure to facilitate mining operations, etc, but not enough to improve conditions for the general population, which otherwise makes the country too uppity and independent.
Author John Perkins explains the process in his famous book 'Confessions of an Economic Hitman' (link below). The globalists first get the emerging country into serious debt trouble via IMF loans, and then offer debt relief in exchange for control of the country's mineral riches. For decades this IMF con job was the only game in town, but then China entered the picture with far better terms / outcomes for these emerging countries. Hence the wide appeal for joining BRICS -
https://en.wikipedia.org/wiki/John_Perkins_(author)
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I wouldn't be surprised to see big oil be behind an accident or 2. We' never know though. But that though has to be a concern to nuclear investors.
>>> South Carolina nuclear plant gets yellow warning over another cracked emergency fuel pipe
10-9-23
Associated Press
https://www.msn.com/en-us/news/us/south-carolina-nuclear-plant-gets-yellow-warning-over-another-cracked-emergency-fuel-pipe/ar-AA1hW8fE?OCID=ansmsnnews11
JENKINSVILLE, S.C. (AP) — Federal officials have issued a warning about a substantial safety violation at a South Carolina nuclear plant after cracks were discovered again in a backup emergency fuel line.
Small cracks have been found a half-dozen times in the past 20 years in pipes that carry fuel to emergency generators that provide cooling water for a reactor if electricity fails at the V.C. Summer plant near Columbia, according to the U.S. Nuclear Regulatory Commission.
The agency issued what it calls a preliminary "yellow” warning to plant owner Dominion Energy last week.
It is the second most serious category and only seven similar warnings have been issued across the country since 2009, nuclear power expert David Lochbaum told The State newspaper after reviewing records from federal regulators
The commission's ruling is not final and Dominion will have a chance to explain what happened, utility spokesman Darryl Huger told the paper in an email.
Dominion has already started to put in place a plan to improve the reliability of the backup system, Huger said.
A crack first appeared on a diesel fuel pipe in 2003, and similar pipes have had other cracks since then.
During a 24-hour test of the system in November, a small diesel fuel leak grew larger, according to NRC records.
The agency issued the preliminary yellow warning because of the repeated problems. Virginia-based Dominion hasn't been the only owner of the plant. SCANA built and started the plant in 1984. The South Carolina company had plans to build two more reactors, but billions of dollars of cost overruns forced it to abandon the project in 2017 and sell to Dominion.
Dominion has recently requested to renew the license for the nuclear plant for an additional 40 years
Longtime nuclear safety advocate Tom Clements told the newspaper the pipe problems should mean a lot more scrutiny by regulators.
"This incident serves as a wake-up call to fully analyze all such systems prior to a license-renewal determination,’’ Clements said in an email.
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>> individual company <<
The only nuclear stock I own is Centrus Energy (LEU), due to the HALEU angle, but it's only a $500 position (9 shares). I know almost nothing about this sector, but figure that a little exposure might make sense. But lots of potential landmines, so only token positions. I have tiny amounts in NLR, URA, URNM, but only $300 each, so basically just 'winging it' :o)
I figure if a key driver of BRICS expansion is that China and Russia are actively building nuke plants for emerging countries, this should at least ensure global demand for uranium (URA, URNM). And it also pushes the US toward expanding nuclear power, albeit reluctantly. And since the newer generation nuke plants like SMRs will need HALEU, then Centrus should benefit, especially since the US needs to restart its enrichment activities anyway, in order to break Russia's monopoly on enrichment.
But who knows, these are just vague hunches on my part. Some of the posters on Dew's board could have some more informed opinions. One of the posters knows a ton about the lithium mining side (link below), but not sure if he also follows the nuclear sector.
Either way, I'd be cautious with nuke related investing since the US/West globalists have been so dead set against nuclear for decades. The only reason they seem to be back on board with nuclear is they are forced to in order to compete with China-Russia-BRICS. They need to stop BRICS expansion, but it's late, and one desperation move would be to stage a nuclear event, a powerplant explosion, which would once again derail nuclear development worldwide. There's also the proliferation aspect, and it's hard to believe that they'll allow HALEU to proceed very far. Who knows, but best to keep the nuke sector as a very small sliver of one's portfolio imo.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171879461
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gfp You are more into this than me, so I ask, what is the best place right now in an individual company, not a fund, to invest in nuclear today? In your opinion, won't sue you if wrong, lol.
>>> Helion is a fusion power company focused on generating zero-carbon electricity from fusion. By building on the successes of its latest fusion prototypes, Helion is building the world’s first fusion electricity demonstration facility. Their pulsed non-ignition technology will be capable of low-cost 24/7 power generation that replaces the energy sources the world currently relies on, enabling a future with limitless, reliable and affordable clean electricity.
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https://www.crunchbase.com/organization/helion-energy?utm_source=yahoo&utm_medium=referral&utm_content=profile_cta&utm_campaign=yahoo_finance
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Small Nuclear Reactors: The Answer To Big Tech's Energy Crisis?
https://oilprice.com/Alternative-Energy/Nuclear-Power/Small-Nuclear-Reactors-The-Answer-To-Big-Techs-Energy-Crisis.html
Microsoft hints at its nuclear plans by posting a job for a "Principal Program Manager Nuclear Technology" to explore integrating SMRs into its operations.
Small Nuclear Reactors offer quick deployment, reduced costs, and enhanced safety features, with over 80 designs under global development.
Challenges like sourcing materials for SMR development, particularly from politically complex regions, may delay their commercial rollout.
Microsoft could be the first of several companies to prepare to use small nuclear reactor (SMR) technology for its high energy consumption, as AI and other technologies become more widely used. There has been great enthusiasm around the potential of SMRs, which could be built faster and at a much lower cost than a traditional nuclear reactor. This month, Microsoft posted a job opportunity for a “Principal Program Manager Nuclear Technology,” suggesting its interest in using SMRs in the future, to support its energy-intensive operations. As companies begin to use a vast range of digital technologies in their day-to-day operations, their energy consumption could increase substantially, making the use of low-carbon nuclear power increasingly attractive.
SMRs are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, equivalent to around one-third the generating capacity of a traditional nuclear reactor. SMRs are much smaller than traditional reactors and are modular, making it simpler for them to be assembled in factories and transported to site. Because of their smaller size, it is possible to install an SMR on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional nuclear reactors and can be constructed incrementally to meet the growing energy demand of a site.
There are strong safety margins included in SMR production, meaning that the potential for the unsafe release of radioactivity to the environment is significantly reduced. These systems can be shut down automatically, without human assistance, in the case of a malfunction. At present, there are over 80 commercial SMR designs under development worldwide, aimed at responding to a range of needs. Although companies are still trepidatious about investing in SMRs as their economic competitiveness in use has yet to be proven. As energy companies begin to roll out SMRs within the next decade there will be a greater understanding of their applicability and the costs involved.
Despite still being in the development stage, Microsoft appears to be one of the first companies to demonstrate its interest in SMRs. As companies continue to digitalise operations and conduct high-energy operations, they will need an increasing amount of energy to power their activities. For example, AI researchers suggest that training a “single large language deep learning model” such as OpenAI’s GPT-4 creates around 300 tonnes of CO2. The average person is responsible for creating around 5 tonnes of CO2 a year, showing just how significant this is.
Microsoft now appears to be drawing up a roadmap for the use of SMR to power its computation needs. This month, the company posted a job description to hire a nuclear technology expert to lead the company’s technical assessment for integrating small modular nuclear reactors and microreactors “to power the datacentres that the Microsoft Cloud and AI reside on.” The post reads that Microsoft is seeking a “principal program manager for nuclear technology”, who “will be responsible for maturing and implementing a global Small Modular Reactor (SMR) and microreactor energy strategy.”
This is not the first time the tech giant has shown interest in nuclear power. In May, Microsoft signed a power purchase agreement with Helion, a nuclear fusion start-up, to purchase electricity from it starting in 2028. And Bill Gates, Microsoft’s co-founder, is the chairman of the board of Terrapower, a company that is currently developing SMR technology. Although there has been no suggestion that Terrapower will provide Microsoft with any nuclear reactors.
Microsoft is showing an early interest in integrating nuclear power into operations. But, as more companies are using energy-intensive technologies, they will require vast amounts of energy to power their activities. Meanwhile, governments worldwide are putting increasing pressure on companies to decarbonise operations, with some introducing carbon taxes and others encouraging the use of clean energy sources through financial incentives. Renewable energy sources, such as wind and solar power, can take years to develop, and acquiring a stable clean energy source also means investment in battery technology. However, as the use of SMRs becomes more commonplace, their fast manufacturing time and small land footprint will likely appeal to companies looking for alternative clean energy sources.
Despite the optimism around SMR technology, a commercial rollout is likely still a long way off due to recent difficulties in acquiring the materials needed to develop these reactors. Many SMRs under production at present will run on uranium at enrichments as high as 15 to 19.75 percent, known as high-assay low-enriched uranium (HALEU). However, this is currently only commercially available from Russia, with which many governments and private companies have cut ties following the Russian invasion of Ukraine last year. Chris Levesque, the CEO of TerraPower, explained “It has become clear that domestic and allied HALEU manufacturing options will not reach commercial capacity in time to meet the proposed 2028 in-service date for the Natrium demonstration plant.”
There has been a rise in the popularity of SMR technology, thanks to its small size and relatively low-cost and fast manufacturing potential. While the commercial rollout of SMRs is still far off, it could provide the vast amounts of low-carbon energy required to meet the world’s growing electricity needs. And tech companies, such as Microsoft, will likely be some of the first to invest in SMR technology as they look to meet their rising computation needs while striving to decarbonise operations.
By Felicity Bradstock for Oilprice.com
>> nuclear sector <<
While these look near term overbought, I figure the nuclear sector may not be the best place to follow the usual TA signals too closely. The nukes had been so far out of favor for so long, if nuclear continues to come back in favor then we're still in the early innings. Plenty of landmines though, and I'm not that familiar with the sector, so only tiny positions.
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That's an interesting article on thorium, thanks.
Btw, it's starting to look like this breakout could be the start of a longer term bull market for the nuke sector. Tough to say, but I decided to re-enter with the same 4 vehicles as before (URA, URNM, NLR, LEU). This time even smaller amounts, but I figure it's at least a token position, and will try to hold it for the longer term.
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"thorium" Never heard of it.
Investing in thorium can be tough, as it’s not yet used for nuclear power generation. Companies like Flibe Energy, which is focused on thorium reactors, are still private.
https://www.energyandcapital.com/resources/thorium-investing/51975#:~:text=Investing%20in%20thorium%20can%20be,add%20to%20your%20portfolio...
Take a look at the word thorium.
What do you see?
Those familiar with Norse mythology or the Marvel comic books might notice the root of the word is Thor, the name of the god of thunder. Thor is known for his strength and power, wielding a hammer and controlling the lightning and thunder.
The name alone implies a superhuman power, a superior energy. And the element doesn't disappoint...
Thorium is a radioactive chemical element that can be found in soil and rocks. In its purest form, it appears as a silver metal, but when heated in the air, it becomes like a white light, like lightning.
Thorium is currently used in things such as light bulbs and camera lenses. It can create a high-quality refractive glass, and its high melting point can allow ceramics to resist high temperatures.
But light bulbs and ceramics aren’t what have the energy industry watching closely...
Heat resistance is.
You see, thorium’s ultra-high melting point can be useful in more than just ceramics. Heat resistance is something scientists and energy specialists alike have been trying desperately to achieve with nuclear energy.
One of the biggest issues with nuclear plants is the meltdowns that can occur if the uranium is not cooled properly. We saw that tragically exhibited in Japan in 2011, when an earthquake and tsunami caused a series of meltdowns at the Fukushima Daiichi plant. The fact that the only other disaster of that caliber was the 1986 Chernobyl disaster has done little to ease the minds of world governments and energy companies. This simply highlighted the tragedy that can come along with it.
Which is why thorium’s properties have become so coveted. If the material were virtually meltdown-proof, the clean energy possibilities would be endless.
There is only one problem: Thorium is unable to sustain a nuclear reaction on its own.
Thorium in Nuclear Energy
Thorium’s inability to sustain a nuclear chain reaction causes a problem, but it’s not one without a solution.
The material can actually prove quite effective when combined with a fissile material — one that is able to sustain a nuclear reaction.
These materials include uranium-233 (which is actually an isotope of thorium), enriched uranium (U-235), and plutonium (Pu-239).
The use of thorium in a nuclear reaction significantly lowers the waste produced; of the waste that does occur, radioactively decaying elements are lowered as well. Combined with weapons-grade uranium, for instance, one University of Oslo researcher found that thorium can aid in reducing radioactive waste by up to 95%.
And the safety of a thorium reactor compared to one using uranium is much higher. As mentioned before, thorium’s high melting point makes a nuclear meltdown much less likely.
But thorium can’t be used in just any nuclear reactor. Only seven types are safe for thorium reactions, including heavy water reactors, high-temperature gas-cooled reactors, boiling (light) water reactors, pressurized (light) water reactors, fast neutron reactors, molten salt reactors, and accelerator driven reactors. Molten salt reactors and accelerator driven reactors are still conceptual, though the other five have all been operational at some point.
The liquid-fluoride thorium reactor (LFTR), a type of molten salt reactor, is being touted by many as the best solution to thorium-powered nuclear energy. In these types of reactors, thorium and uranium fluorides are combined into a salt mixture that’s heated to a molten substance, which is then used to fuel the reactor.
These reactors have the potential to become self-sustainable, as they will be able to produce U-233 (the thorium isotope).
Flibe Energy, a company started by nuclear technologist and former NASA aerospace engineer Kirk Sorensen, is conducting research on LFTR technology with a view to eventually incorporate these reactors not just into electrical energy generation, but also into fields as vastly different as desalination, cancer treatment, and deep space exploration.
Creating the Nuclear Reaction
Still, the fissile material that enables a thorium reactions is actually fairly difficult to supply...
For years, the U.S. has had a steady stream of U-235 coming in, but that runs out this year.
Following the fall of the Soviet Union in 1991 and the Lisbon Protocol in 1992, the U.S. and Russia arrived at the U.S.-Russian Highly Enriched Uranium Agreement, or what came to be known as the “Megatons to Megawatts Program.”
Under the terms of the 1993 agreement, Russia would dismantle Soviet nuclear warheads and convert 500 tonnes of highly-enriched uranium to low-enriched uranium, which would be sold to the U.S. for use in nuclear reactors.
By 2013, ten years after the start of the program, all 500 tonnes would be converted. As a result, the U.S.’s steady supply of uranium came to a halt in 2013.
But for thorium, it might not be as bad as it seems. After all, U-235 isn’t the only fissile material that could be combined with thorium for a nuclear reaction...
U-233, an isotope of thorium, can react with thorium for a nuclear reaction. And this is the focus of the LFTRs, as it could lead to self-sufficiency of these reactors with the recycled waste.
It’s not easy. Thermal breeding, as the process is called, requires the reactor to produce more fissile material than it consumes, and it requires a highly specialized type of reactor.
Regular nuclear reactors are unable to breed to the point where it is unnecessary to add more of the fissile material. But many LFTRs are being designed as breeding reactors. While regularly adding thorium to these reactors would be necessary, adding U-233 would not. Enough fissile material would be created in the reactions to sustain it on its own.
Investing in Thorium
Investing in thorium can be tough, as it’s not yet used for nuclear power generation. Companies like Flibe Energy, which is focused on thorium reactors, are still private.
Uranium Mining Companies
Several uranium miners, like Cameco Corp. (NYSE: CCJ) and Unity Energy Corp. (UTY.V), are mining uranium in areas that also have concentrations of thorium.
Though neither company has reported on significant mining of thorium, both are well-positioned to profit should the demand for the metal skyrocket.
As thorium reactor testing continues in nations like Norway and India, and major investors like Bill Gates (whose company TerraPower has also begun testing thorium reactors) get involved, attention to the metal will only grow...
Research on these reactors will lead to implementation, and that will lead to profits for the well-positioned investor.
Thorium is the key nuclear fuel of the future. Keep a close eye on this one.
Full article - >>> Uranium Investors Bet Big On Nuclear Renaissance
OilPrice.com
By Alex Kimani
Sep 24, 2023
https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Investors-Bet-Big-On-Nuclear-Renaissance.html
Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive.
Uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD.
Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.
Uranium and the nuclear energy sector are enjoying a renaissance. There has been a palpable shift in support for nuclear power amid the transition to low-carbon fuels as well as a renewed push to enhance energy security after the global energy crisis triggered by Russia’s war in Ukraine.
Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive. And few have been as monumental as Finland's Green Party which voted overwhelmingly in 2022 to categorize nuclear power as a form of sustainable energy after decades of strong opposition. A third of Finland's electricity is generated by nuclear power.
“I am very happy and proud. This is a historical moment in the history of the green movement, as we are the first green party in the world to officially let go of anti-nuclearism.” said Tea Törmänen, a voting member and chair of the Savonia/Karelia chapter of Viite, the pro-science internal group of the party, shortly after the vote.
Other European nations quickly followed suit with Belgium, Spain and Sweden supporting nuclear energy.
Not surprisingly, uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD, better than any other metal and topping $65/lb for the first time in 12 years.
Uranium-based investment vehicles and ETFs have performed even better than the metal they track: Global X Uranium ETF (URA) is up 29.2% in the year-to-date; Horizons Global Uranium Index ETF (HURA.TO) has returned 40.3% while VanEck Uranium+Nuclear Energy ETF (NLR) has gained 28.5%. Uranium miners have not disappointed either: Cameco Corp. (NYSE:CCJ)+75.2%, Uranium Energy Corp. (NYSE:UEC)+40.1% and Consolidated Uranium Inc. (OTCQX:CURUF)+30.7%.
Uranium Shortage Bites
But the biggest bullish catalyst yet for uranium bulls has been supply deficits at a time when demand is surging. Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.
The coup in Mali, which produces ~4% of the world's total, and Cameco's falling production due to difficulties at its Cigar Lake mine and Key Lake mill in Canada have also constrained supply. Global supplies remain constrained mainly due to years of under-investment in new production, monopoly of state-owned entities, transportation risks and geopolitical uncertainties.
Meanwhile, in its latest biennial report, the World Nuclear Association has predicted that demand for uranium used in nuclear reactors will surge 28% by 2030 and nearly double by 2040 as governments ramp up nuclear power capacity in a bid to meet zero-carbon targets.
Sachem Cove Chief Investment Officer Michael Alkin has told The Wall Street Journal that the uranium market remains “very tight’’ and prices are likely to move even higher heading into 2024. Alkins says he expects utilities to start ramping up talks for uranium conversion and enrichment through private negotiations during the fall or requests for proposals.
Cameco says the dual agendas of clean energy and energy security have so failed to translate into a stronger primary supply pipeline. According to the uranium miner, the uranium market is still in the "relatively early stages of the cycle as uncovered uranium requirements by utilities remains elevated," and only "sustained long-term uranium demand will ultimately drive the company's future production plans."
Cost and Policy Risk
Like all investment theses, uranium bulls will have to contend with some key risks. First off, over the decades, the nuclear sector has become notorious for huge cost overruns by uranium projects. Unfortunately, project managers, financial planners and financiers do not appear to be any closer to solving this conundrum in this age of AI.
Not only has the cost of building new nuclear plants sky-rocketed in recent years but plants currently under construction are massively exceeding cost estimates. A large 3,200 megawatt (MW) plant planned to be built in southwest England by France's EDF , the world's largest nuclear operator, is now estimated to cost ~$40 billion, or 30% higher than the initial estimate. Smaller projects are not immune to this problem either. NuScale Power’s 462-MW plant under construction has seen cost estimates increase from $58 per megawatt hour in 2021 to $89/MWh in 2023, a more than 50% jump in the space of just two years.
Second, another major nuclear accident like Three Mile Island or Fukushima might rapidly sour the public sentiment and even force a policy shift. A major thorium breakthrough might spell doom for the uranium sector since thorium reactors do not carry the same risk of a catastrophic meltdown inherent in nuclear reactors powered by uranium.
<<<
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Uranium Investors Bet Big On Nuclear Renaissance
https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Investors-Bet-Big-On-Nuclear-Renaissance.html
Summary>>>>>
Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive.
Uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD.
Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.
Bold plans to use nuclear generated hydrogen to decarbonise a key British industry, have taken another huge step forward.
wow comment, "Nuclear is growing world wide"
https://www.niauk.org/more-progress-on-exciting-hydrogen-plans-for-heysham-2/
The Department for Energy Security and Net Zero has announced £6.1m for the Bay Hydrogen Hub – Hydrogen4Hanson scheme, a figure that will be matched by the project partners. The funding is from the government’s £1 billion? Net Zero Innovation Portfolio (NZIP), which provides funding for low-carbon technologies and systems.
The hub, a consortium made up of EDF, construction materials producer Hanson, National Nuclear Laboratory (NNL), and Vulcan Burners, is aiming to pilot a project in which nuclear derived hydrogen is used to decarbonise asphalt and cement production.
The Government and industry funding, which combined will exceed £15m, will go towards developing a final design for the hydrogen production, distribution and end use technology and for exploring the full costs and delivery plans.
Rachael Glaving, Commercial Director at EDF, said: “For decades nuclear power in the UK has provided zero-carbon electricity to the grid and helped to constrain the nation’s emissions, collectively saving more than 700m tonnes of carbon dioxide going to the atmosphere.
“But we know nuclear power can do even more to drive the nation towards decarbonisation. Our hope is that this project shows industries that are dependent on fossil fuels, as well as the nuclear sector, that by working together we can build a lower carbon future for industry and confirm the UK’s place as a global decarbonisation technology leader.”
The Bay Hydrogen Hub proposes to build a solid oxide electrolysis cell (SOEC) electrolyser at Heysham 2 Power Station in Lancashire. The station, which generates 1.25Gw of electricity, will divert small quantities of electricity and steam, generated by the nuclear process, to an SOEC built onsite. This would create hydrogen, which would then be transported in modern high-capacity tankers, to Hanson’s Criggion asphalt plant in North Wales.
There the hydrogen would be used to fuel the industrial processes which presently use a mix of liquid fossil fuel. At present, no facility in the world has used hydrogen as a fuel for asphalt production. Earlier in 2023, a feasibility study demonstrated the significant benefit the project would bring in proving how nuclear could power hydrogen electrolysis.
Gareth Headdock, Vice President of Government and New Build, National Nuclear Laboratory, said:
“This project places the UK as a global leader in the development of nuclear enabled hydrogen. We are really excited to see this new application of nuclear energy, along with the increasing investment in advanced nuclear. As we invest in the next generation of scientists and engineers, the Bay Hydrogen Hub is building the skills we need for our hydrogen future.”
Simon Willis, CEO Hanson UK, said:
“Nuclear power derived hydrogen has the potential to be a complete game-changer for decarbonising asphalt and cement production. Our involvement in the Bay Hydrogen Hub project underscores our commitment to lead the way by investing in cutting edge technologies to prove they can deliver in real-world situations and help us meet our net zero goals.
“Hanson has already successfully shown that hydrogen can be used as part of a net zero fuel mix at our cement works in Ribblesdale, Lancashire, but its use as a fuel at an asphalt site has not yet been physically demonstrated anywhere in the world. It’s an exciting time and we are hopeful that the project will demonstrate another key step forward towards the decarbonisation of our industry.”
Over the coming months, the project partners will develop the full designs for the electrolyser and scope and cost all works that will be required at Heysham 2 to take the scheme forward. Once this work is concluded, a decision will be made which could see construction, and supporting physical works, begin at the power station in early 2024.
>> distracts us <<
Yes, keeping the public distracted is essential. The CBDC is their biggest domestic goal, and to prevent any opposition they keep us perpetually divided, squabbling, and preoccupied with mindless diversions that won't threaten the oligarchy.
But by far their biggest problem right now is internationally -- how to somehow maintain global hegemony when challenged by the BRICS juggernaut? This is an existential problem, and their desperation is growing. The domestic control situation is essentially 'in the bag' (CBDC), but the global hegemony side is slipping away rapidly. In Jan BRICS goes from 5 countries to 11, with dozens more clamoring to join. It's a full blown mutiny that has to be stopped, but what desperation measures will the US/West have to resort to? Looks like we'll find out.
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I think you may be giving the Deep State too much credit for knowing what is good or bad. They control soo much oil and coal, that they may be more concerned with loss of oil and coal money. for now Dairy is good for us? it is good for if you own the industry. The dairy lobby is huge, paid for my users of dairy. Withing murders on TV, movies, and video games is a good thing for us? Not if you own the entertainment industry. China now has a world champion female UFC fighter. Violence is good? So called entertainment distracts us from what those MFers are doing.
https://www.youtube.com/watch?v=9qY5DrGdqyQ&ab_channel=MMAOrigins%7CMMADocumentaries
The nuclear plays are really looking near term overbought, based on the charts anyway. Longer term could be a different story (still a long way to go), but I took profits in my remaining 2 nuke plays anyway. Those charts just look too spiked right now, RSIs nearing 80, etc.
LEU doesn't look as overbought, but I'm starting to have reservations about the idea that the 'Deep State' will ever allow their 4X enrichment paradigm to ever reach broad deployment. They (Deep State) have been obsessed with minimizing proliferation risks, and it's hard to imagine them suddenly reversing course. Centrus should benefit from the big US drive to restart domestic enrichment capabilities, but seeing this fuel go into hundreds or thousands of SMR/ Small Modular Reactors all over the place seems too unlikely due to the proliferation aspect.
Anyway, it might be better to just sit with these nuke plays for the longer term, but I don't understand the sector well enough, and owning them creates enough angst to where I'll probably just watch from the sidelines.
Also, I still wonder about a possible nuclear 'event' happening, designed to poison the well for the expansion of nuclear power. Russia and China are building nuke reactors all over, which is a big draw for their expansion of BRICS membership, and this creates an incentive for the US/West ghouls to try to derail nuclear via a false flag event. That could just be my conspiracy addled brain going into overdrive, but that Ukraine reactor (Zaporizhzhia) just seems like too obvious a target, whether by accident, intentionally, or false flag. That place has 6 reactors, so imagine the consequences if it blows up and Europe is irradiated.
Anyway, I'll probably just watch these stocks from the sidelines. BWXT might be a lower risk idea in the sector, with their navy / military side -
>>> BWX Technologies, Inc. (BWXT), together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S. Navy submarines; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers. This segment also involved in manufacture of close-tolerance and equipment for nuclear applications; and converts Cold War-era government stockpiles of high-enriched uranium, as well as receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; supplies research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications. The Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, and reactor components; and other auxiliary equipment, including containers for the storage of nuclear fuel and other high-level nuclear waste. It also offers nuclear fuel, fuel handling systems, tooling delivery systems, nuclear grade materials, and precisely machined components, as well as related services for CANDU nuclear power plants; in-plant inspection, maintenance, and modification services, as well as non-destructive examination and tooling/repair solutions; and medical radioisotopes, radiopharmaceuticals, and medical devices. The company was formerly known as The Babcock & Wilcox Company and changed its name to BWX Technologies, Inc. in June 2015. BWX Technologies, Inc. was founded in 1867 and is headquartered in Lynchburg, Virginia. <<<
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>> don't get my social security/Medicare if I don't take the jab <<
Yes, that's the idea, although it will take a number of years before it comes to that. But this is the type of behavioral control that a CBDC makes possible. China has has their CBDC for a number of years now, and combined with their 'social credit score' system, it amounts to total behavioral control over the population. Do what they say / dictate or they just 'switch off' your use of money.
It's not hard to see why the CBDC is so popular, with approx 120 countries developing one. With China's social credit score system, your score drops if you don't comply with government mandated behaviors, and when your score hits certain levels your ability to travel is curtailed (limited to a 5 or 10 mile radius), your money won't work for certain transactions, etc. Ultimately they can just switch off your money altogether, remove it from your account, etc. It's Orwell's 1984 on steroids.
This is the world's future, but it won't happen overnight, so at our age we probably won't see the full rollout in the US. Orwell summarized what's coming -- 'If you want a picture of the future, imagine a boot stamping on a human face – forever.'
Similarly, for corporations they established the ESG score system (Environment, Social, Governance), to control corporate behavior. If the corporation doesn't comply with government / globalist approved policies, the company's ESG score drops and eventually their stock can no longer be held by pension funds and other large investment entities. So corporations must toe the line, just like us small fry. It's basically a slave system being set up as we watch.
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gfp, that was a very interesting reply. I am faced with the thought of that I don't get my social security/Medicare if I don't take the jab? I hope the goal is population control, not killing us seniors, etc. outright.
>> quarantine crashed most everything <<
I figure the recent surge in Covid news coverage is mainly just to get the fear gauge up so people will get the jab again, but a lot fewer people will fall for it this time. They want to make this an annual jab, like the flu. Once the CBDC is in place they can effectively enforce mandatory jabs, and this would be an ideal mechanism for population control / reduction. Here's one of many possible mechanisms that could be used -
>>> Relevance of immuno-contraceptive vaccines for population control. I. Hormonal immunocontraception
Arch Immunol Ther Exp (Warsz)
1990;38(1-2):47-60.
S K Gupta 1, P T Koothan
Abstract
Human chorionic gonadotropin--subunit beta (beta-hCG) has been so far most extensively studied antigen for immuno-contraceptive properties. Studies of vaccination of non-human primates has been so far controversially reported since some antisera obtained from baboons immunized with beta-hCG had shown cross-reactivity to other tissues. Despite these problems and concerns about the complete safety of this first generation vaccine, a decision has been made to proceed with a limited clinical trials with this vaccine. Results from these trials are encouraging and indicate that contraceptive antibody titers can be achieved with permissible adjuvants. Neutralization of LH and/or FSH by circulating antibodies may impede their action and interfere with the maturation of gametes. Gonadotropin releasing hormone can be also a suitable target for immunological attack.
https://pubmed.ncbi.nlm.nih.gov/2126920/
<<<
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All Nuclear did well today. 4 of the top 7 ETFs today were Nukes>>>>>
I'm in cash. The quarantine on 2020 crashed most everything, A lot of noise about a new needle plunge. Plan on buying after a dip or worse.
https://www.barchart.com/stocks/performance/percent-change/advances?screener=unleveraged_etf&orderBy=percentChange&orderDir=desc
>>> Centrus Gets NRC Green Light to Introduce Uranium Into HALEU Nuclear Enrichment Cascade
Power
June 22, 2023
https://www.powermag.com/centrus-gets-nrc-green-light-to-introduce-uranium-into-haleu-nuclear-enrichment-cascade/#:~:text=The%20Nuclear%20Regulatory%20Commission%20(NRC,centrifuge%20cascade%20in%20Piketon%2C%20Ohio.
The Nuclear Regulatory Commission (NRC) has allowed Centrus Energy—a firm contracted by the U.S. Department of Energy (DOE) to demonstrate high-assay low-enriched uranium (HALEU) production with domestic technology—to introduce uranium hexafluoride (UF6) into its uranium enrichment centrifuge cascade in Piketon, Ohio.
The development marks yet another critical milestone for Bethesda, Maryland–headquartered company in its efforts to begin first-of-a-kind HALEU production at its American Centrifuge cascade in Ohio by December 31, 2023. When completed, the facility could be the first new U.S.-owned, U.S.-technology enrichment plant to begin production in 70 years, it has noted.
The Big Step to Address a Crucial Nuclear Fuel Supply Gap
While delayed by supply chain constraints and the COVID pandemic, the pioneering demonstration has been eagerly awaited, given its implications for alleviating—even if moderately—supplies of HALEU, a form of uranium-235 fuel enriched to 20%. Experts note that because HALEU is enriched higher than the 4% to 5% level typically used in existing reactors, it may provide more power per volume than conventional reactors, and its efficiency allows for smaller plant sizes. The fuel type also promises longer core life and a higher burn-up rate of nuclear waste.
Several advanced nuclear reactor designs, including nine of the 10 designs awarded under the DOE’s Advanced Reactor Demonstration Program (ARDP), require HALEU. However, HALEU is currently available from only two sources: limited amounts from the DOE via down-blending of existing stockpiles of material and from commercial supplies via TENEX, a nuclear fuel company owned by Russian state-owned company Rosatom.
Centrus’s American Centrifuge cascade uses gas centrifuge machines, which feed uranium hexafluoride (UF6)—heated to a gaseous state—into a rotor inside the centrifuge machine. A rotor spinning at high speed inside a steel casing uses centrifugal force to concentrate the heavier U-238 isotopes at the outer wall of the rotor and the lighter U-235 isotopes toward the rotor center. The streams are then fed to the next machines in a “cascade” to achieve the desired level of enrichment. Centrus will use a 4.95% LEU feed material for its planned HALEU 16 AC100M-centrifuge cascade. It suggests roughly 85% of the separative work units (SWU)—a measure of enrichment needed to produce HALEU—is already contained in the LEU feed material
Centrus Energy’s original AC100 machine was developed with support from the Department of Energy and later refined by Centrus to the current AC100M machine under contract with Oak Ridge National Laboratory. Centrus Energy will demonstrate 16 of its centrifuges at its enrichment facility in Piketon, Ohio. The machines will be used to enrich uranium hexafluoride gas to produce an initial 20 kilograms of HALEU by December 2023 to support advanced reactor fuel qualification testing and reactor demonstration projects.
NRC Green Light Follows Operational Readiness Reviews
The company began building its cascade of 16 AC100M centrifuges in 2019, after entering into a $115 million cost-shared contract with the DOE, under which the DOE agreed to reimburse the company for 80% of its costs incurred in performing the contract. While the contract was modified several times, the government’s total contract funding currently amounts to $173 million.
In 2022, the DOE elected to move the operational portion of the demonstration to a competitively-award contract to prolong the operational period. After a solicitation process, it awarded a $150 million “definitized contract” to Centrus under two phases through 2024. Phase 1 calls for the completion of the cascade and the start of operations to produce an initial 20 kg of HALEU UF6 (19.75% enriched) by December 31, 2023. Centrus in February 2023 completed construction and initial testing of its advanced uranium enrichment centrifuge cascade as well as most of its associated support systems.
Under Phase 2, Centrus plans to continue production for a full year at an annual production rate of 900 kg of HALEU. The DOE will own the HALEU produced from the demonstration cascade. The operation contract also gives the DOE options to pay for up to nine additional years beyond the base contract, though those options will be subject to the availability of Congressional appropriations.
According to Centrus, the NRC’s approval issued on Thursday to allow Centrus to possess uranium and introduce it into the demonstration cascade follows the federal regulator’s operational readiness review. “The operational readiness reviews were required under Centrus’ NRC license, which was successfully amended in 2021 to make the Piketon site the only NRC-licensed HALEU production facility,” the company noted.
Next Steps: Scaling Up?
Now that construction and initial testing have been wrapped up, and the NRC has authorized Centrus to introduce UF6 into the HALEU cascade, Centrus will focus on completing construction on an on-site HALEU storage area. It plans to also conduct final testing activities prior to operation as slated by year-end.
Centrus is separately also exploring the possibility to scale up the Piketon facility for expanded HALEU production. Provided that it can secure sufficient funding or off-take contracts, the company estimates that a full-scale HALEU cascade—consisting of 120 individual centrifuge machines with a combined capacity of approximately 6,000 kg of HALEU per year (6 MTU/year)—could be brought online within about 42 months. “Centrus has the capability to add an additional cascade every six months after that,” it said.
DOE Takes Notable Steps to Boost Domestic HALEU Availability
The DOE estimates that more than 40 metric tons (40,000 kg) of HALEU could be needed by 2030 to deploy a new fleet of advanced reactors in a timeframe that supports the Biden administration’s goal of 100% carbon-free electricity by 2035.
Under the HALEU Availability Program, which Congress established in the Energy Act of 2020, the DOE has so far established a “HALEU Consortium,” a public-private coordination effort. The DOE has meanwhile also begun working to establish a temporary domestic demand for HALEU to stimulate a diverse supply of commercial HALEU. It hopes that these efforts could ultimately lead “to a competitive HALEU market and more certain domestic HALEU demand.”
On June 12, notably, the DOE’s Office of Nuclear Energy issued a notice to prepare an environmental impact statement in accordance with the National Environmental Policy Act (NEPA) for the DOE’s proposed efforts to facilitate and commercialize domestic HALEU production.
On Monday, the agency also issued two draft requests for proposals (RFPs) focused on HALEU acquisition. The first RFP is related to services and HALEU material production. The second RFP focuses on deconversion activities to convert enriched UF6 gas into metal or oxide forms, which can be used to fabricate fuels needed by several advanced reactor developers.
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But too much 'thinking' is probably bad for our long term investment results. For someone like Buffett, thinking and analysis has been a full time job, and he's really good at it. But for the rest of us mere mortals, Buffett's advice is to just use the S+P 500 index. So he's basically saying 'don't think, put it on autopilot'. John Bogle came to a similar conclusion for the vast majority of us investors -- don't try to pick stocks / sectors or time the market, just use the broad index, and controlling risk can be achieved via the asset allocation model.
It's simple, so why don't more investors do it? Two reasons - 1) it's boring, there's no 'action', and 2) investing has become an interesting hobby that is hard to give up.
But a way around this to continue following stocks / sectors for fun / interest, just don't use real money, or only small amounts. The bulk of one's stock allocation is in the broad index, which is subject to the allocation model, ie - 10%, 20%, 30%, etc. Anyway, that's the conclusion I came to, but would have been much better to have this approach decades ago.
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>>> Saudi Arabia Sets Its Sights on a Less Glamourous Source of Wealth
Bloomberg
by Matthew Martin, Fahad Abuljadayel and Thomas Biesheuvel
September 7, 2023
https://finance.yahoo.com/news/saudi-arabia-sets-sights-less-040005931.html
(Bloomberg) -- In scorching summer heat, Renier Swiegers marches through the desert toward a drilling rig. He’s not looking for oil, the dynamo of Saudi Arabia’s economy the past 80 years, though. It’s another potential source of wealth and influence the kingdom now has its eye on.
Having already used its energy riches to upend the worlds of sports, tourism and movies, Saudi Arabia’s Crown Prince Mohammed bin Salman is prepared to pour billions of dollars into tapping the more than $1.3 trillion of metals his government says is buried in places like this.
The plan may be among the less glamorous components of his grand Vision 2030 to transform the Saudi economy. The prospect of turning the country into a metals hub that can make a dent in a global industry also has no shortage of skeptics. But Saudi Arabia’s 38-year-old de-facto leader has no shortage of wealth or ambition. Key will be convincing international mining companies it’s worth their while.
If only partially successful, the dream would have implications beyond the Middle East, not just for metals mining but also Saudi Arabia’s relations with the US, China and the emerging markets the kingdom is inching closer to.
Swiegers, a Namibian who works for British mining firm Moxico Resources Plc, is a believer. He’s helping establish a new zinc and copper open pit mine about 200 kilometers (125 miles) west of the Saudi capital, Riyadh.
“I’ve done projects all over Africa, and I know the geology and where is good to mine,” said Swiegers, extracting earth samples from the rig from as deep as 200 meters and pointing to copper deposits glittering in the sun. “This site is just like those.”
If everything comes to fruition, by 2025 the Khnaiguiyah site he’s working on will be producing metals including 100,000 tons a year of zinc and 10,000 tons of copper in its first phase. That’s miniscule by global standards — equivalent to Chile’s copper output in about 18 hours — but the aim is to double the volume. It’s one of several projects in the kingdom.
As well as developing local mines, there’s also another element to the plan that industry insiders say is less speculative and quicker to get up and running. Saudi Arabia wants to buy up resources from elsewhere to be refined and processed at new facilities inside the kingdom.
Read More: Forget China, The Hot Money in Mining Is Suddenly Saudi
In July, the country announced its first big push into international mining. It took part in a $3.4 billion deal in Brazil, buying a stake in Vale SA’s base metals unit alongside investment fund Engine No. 1.
The transaction was the first by Manara Minerals, a vehicle established by Saudi Arabia’s powerful sovereign wealth fund — the Public Investment Fund, or PIF — and Saudi Mining Co., also known as Maaden. The agreement gives the kingdom, which beat off competition from Japan and Qatar, a 10% slice in one of the world’s crucial suppliers of nickel and copper — essential metals needed to decarbonize.
There will be more. Manara’s two shareholders will initially provide about $3 billion for two or three international deals a year, and more funding will be provided if needed, people familiar with the strategy said. It’s part of Maaden’s aim to ramp up its role in domestic production, while also buying access to global resources.
Pillar of the New Saudi Economy
Using government subsidies and lending by state-controlled funds, the overarching goal is to position Saudi Arabia as an alternative supplier to China for the metals and minerals vital to the global energy transition, such as batteries for electric cars. In short, dirty old mining is one of the pillars of the clean new future.
“Saudi Arabia needs more than one engine to achieve its vision,” Khalid Al Mudaifer, vice minister of mining affairs, said in an interview. The kingdom’s plan is to transform itself into an economic and industrial powerhouse, he said. “For that we need minerals.”
The main metal of interest to companies is copper, but Saudi Arabia also wants to mine uranium and phosphates for its nascent nuclear program. That’s drawn the attention of Western powers and the United Nations, who are wary of nuclear proliferation in the Middle East.
Saudi Arabia has repeatedly pledged that its atomic program is strictly for peaceful purposes, but Prince Mohammed has said the kingdom would develop a bomb if the other big Middle Eastern power, Iran, did so.
Some executives and advisers at the world’s biggest miners, though, have doubts about the kingdom’s domestic mining plans and point first to its geology. Its uranium reserves have been called “severely uneconomic.” The copper deposits — the most desirable metal for most miners — were mainly formed by volcanic activity.
That means they will likely only be found in small to medium-sized areas. It makes them less attractive to mine than the deposits that stretch down the through the Andes in Latin America and provide the bulk of the world’s supplies or the sedimentary-rock formations in places like Central Africa.
These jurisdictions — and even the largely undeveloped copper crescent that runs through Iran and Pakistan — are seen as much more prospective for the large, long-life mines many of the major global companies are looking to develop.
There’s also the problem of water, something in scarce supply in Saudi Arabia, which is around 95% desert. “There is also the challenge of availability of infrastructure, particularly for deposits located in remote desert areas,” said Carole Nakhle, founder and chief executive officer of London-based consultancy Crystol Energy.
Much of the Saudi plan will hinge on how successful projects like the one at Khnaiguiyah are at getting from identifying specific locations of mineral deposits to commercial production. Ajlan & Bros, the local investor developing Khnaiguiyah along with UK-based Moxico Resources, has earmarked $14 billion to invest in developing mines and processing facilities by 2030.
The firm, controlled by a wealthy Saudi family that built its fortune on selling traditional Arab headdresses, is betting that “Saudi Arabia can become a new source of minerals and rare earths away from China,” said Fahad Alenezi, CEO for the metals and mining group at Ajlan & Bros. As China and the US compete for access to resources “this is healthy for us,” he said.
Ajlan is planning to develop the largest zinc and copper processing plant in the Middle East at Yanbu on Saudi Arabia’s west coast. Most of the focus will be domestic demand, but the firm is already getting offers from Chinese and European trading houses to take any commodities it can produce.
Saudi Arabia is partnering with the Chinese Geological Survey on a $207 million contract to help identify minerals in the so-called Arabian Shield area of the kingdom where most deposits are, officials said at a Saudi-China business conference in June. The government in Beijing has also led efforts to identify the kingdom’s uranium deposits.
“The bottom line is that Saudi is exceptionally prospective,” Mark Bristow, CEO of Barrick Gold Corp, said in an interview during a visit to Riyadh in January. As for the estimate of more than $1 trillion of metals in the ground, “Whatever that number is, it’s worth an investment,” said Bristow, whose company took a risk on Mali more than 25 years ago and helped to turn it into a top African gold producer.
Canada’s Barrick operates a copper mine on Saudi Arabia’s southwestern coast near the Red Sea. It’s also been in talks with the PIF about a potential stake in a copper project in Pakistan, which would bring in Saudi money and political influence, people familiar with the matter said recently.
Vision 2030 Eyes $75 Billion
The government is offering big incentives for companies to start mining. The Saudi Industrial Development Fund will offer financing for up to 75% of a project. There’s a five year grace period on royalty payments, a cap on taxation levels, and a commitment not to levy windfall taxes. All government income from mining will go into a special fund to be reinvested in the industry.
Mining is the so-called “third pillar” of the economy in Vision 2030. The others are petroleum and petrochemicals, meaning mining would become the biggest part of the economy after oil and gas. The industry would eventually employ more than 250,000 people and contribute some $75 billion to Saudi gross domestic product by 2030, according to the targets.
A metals refining and processing industry could have potential to draw interest from international partners looking to provide more competition with China, which currently dominates minerals processing and battery manufacturing. That, of course, is if it all goes to plan.
So far, Saudi auctions for exploration licenses in the country have attracted only smaller players. The kingdom in August announced another bid round for investment and development of eight mining areas across the country.
Doubts among the big miners, though, don’t mean they aren’t closely following the Saudi efforts. Under the crown prince, Saudi Arabia is willing to take the kind of commercial risks other countries with mining ambitions might balk at, and his futuristic new city in the desert, called Neom, and the recent lavish spending on football shows the kingdom’s belief in its aims.
“Others in the industry were telling me that this is real and it’s something you need to get closer to,” Mike Henry, CEO of BHP Group Ltd., the world’s biggest mining company, said during a trip to Saudi Arabia. “It’s definitely the real deal.” That was in January when he attended the country's annual mining conference. Whether giants like BHP get involved remains to be seen.
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I like how you think!
Fwiw I decided to 'streamline' the nuclear energy holdings down from 4 to 2, so took modest profits in NLR and URNM, but will continue holding URA and LEU. These are small positions, but the two I sold clearly looked near term overbought, based on the charts anyway.
While unlikely, there is one nightmare scenario for the nuclear sector that could be imagined. One of the key attractions of joining BRICS is that Russia and China are building nuclear powerplants for these emerging countries. The prospect of cheap and plentiful energy is a huge draw, and for decades the US has been unwilling to do it. But with BRICS expansion becoming such an existential threat to continued US world dominance, how does the US derail BRICS expansion? One way would be to derail nuclear power as a viable option by engineering a nuclear power plant 'disaster'. For example, the power plant in Ukraine is blown up (blamed on Russia), and this disaster has a major chilling effect on nuclear power in general, since these plants are so vulnerable to drone attacks, acts of terrorism, etc. Not only are they vulnerable to attack, but the resulting radiation disaster continues for decades, or even centuries (Chernobyl). Anyway, this would be an extremely efficient way to derail both BRICS expansion and nuclear power generally.
Hopefully this scenario never happens, but better to not over-weight the nuclear power sector too much imo.
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I agree with all of that. Been watching the nukes.
Looks like the nuclear / uranium sector is really taking off. Getting near term overbought, but longer term things seem promising. Nuclear was way out of favor for a long time, then came back to life a few years ago, and is now starting to take off.
Some of the charts like NLR and URNM have spiked and look due for pullbacks, but looking at the longer term charts for URA and LEU, the party may have just begun. So.. hanging in there for the longer term seems like a logical strategy. The world wants nuclear power, and China-Russia-BRICS are giving it to them, with the US forced to play catch up.
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>> will want to use a financial crisis to get new legislation through or, probably closer to 2030, a new world government <<
There's an ex Blackrock guy (Ed Dowd) who thinks they'll use a crisis to ensure that the CBDC gets adopted. It makes sense they might do that, since the CBDC is so pivotal to their long term control grid goals. But deliberately inducing a crisis could be very risky since the Fed's 'toolkit' for dealing with crises is already depleted, and will be even more so as the de-dollarization process accelerates over the next several years. With a rapidly weakening dollar, the Fed won't be able to do ZIRP / QE like they did after the 2008 and 2020 crises. So deliberately inducing a crisis would presumably be their highest risk 'nuclear option', and only used if the CBDC adoption is being fatally derailed by opposition.
But with another puppet President in place soon, the CBDC adoption might sail right through without a problem. There are some in Congress who are making noise against the CBDC, so we'll see if opposition grows enough to cause a problem. Dowd's thesis however, was that the CBDC would be used as the 'solution' to a big crisis. He said his general timeline was for a crisis in 2024, but he said that months ago during the banking turmoil, so not sure if he has revised the scenario or not.
But.. there's always something to worry about these days, which is why I only have a 20% stock allocation. Once the de-dollarization process really gets rolling, holding bonds and cash will also become problematic. So a tough time to be an investor, and probably even tougher as time goes on. But we 'might' be entering a brief interlude period of a year or two. Or on the other hand, that might be wishful thinking.
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Thanks for the picks gpf. I am not in any Nukes's yet, but thinking. I still fear a big steep correction/crash more like 1987 than a bear market. IMO, the "boyz" will want to use a financial crisis to get new legislation through or, probably closer to 2030, a new world government. Either now or later, most all stocks will fall big time.
>>> NuScale Power Corporation (SMR) engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs. NuScale Power Corporation was founded in 2007 and is headquartered in Portland, Oregon. NuScale Power Corporation operates as a subsidiary of Fluor Enterprises, Inc.
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>>> NexGen Energy Ltd. (NXE), an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan. The company is headquartered in Vancouver, Canada.
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>>> Energy Fuels Inc. (UUUU), together with its subsidiaries, engages in the extraction, recovery, exploration, processing, permitting, evaluation, and sale of uranium, vanadium, and rare earth elements. It also targets heavy mineral sands, including ilmenite, rutile, zircon, and monazite. The company owns and operates the Nichols Ranch project located in Wyoming, White Mesa Mill located in Utah, the Pinyon Plain project located in Arizona, the Roca Honda project located in Central New Mexico, the Sheep Mountain project located in Wyoming, the Bullfrog project located in Utah, and the La Sal project located in La Sal West and La Sal East. It also owns and operates the Bahia project located in Bahia, Brazil; and holds non-material mineral properties in Wyoming, Arizona, and Colorado. The company was formerly known as Volcanic Metals Exploration Inc. and changed its name to Energy Fuels Inc. in May 2006. The company was incorporated in 1987 and is headquartered in Lakewood, Colorado.
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>>> BWX Technologies, Inc. (BWXT), together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations.
The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S. Navy submarines; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers. This segment also involved in manufacture of close-tolerance and equipment for nuclear applications; and converts Cold War-era government stockpiles of high-enriched uranium, as well as receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; supplies research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications.
The Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, and reactor components; and other auxiliary equipment, including containers for the storage of nuclear fuel and other high-level nuclear waste. It also offers nuclear fuel, fuel handling systems, tooling delivery systems, nuclear grade materials, and precisely machined components, as well as related services for CANDU nuclear power plants; in-plant inspection, maintenance, and modification services, as well as non-destructive examination and tooling/repair solutions; and medical radioisotopes, radiopharmaceuticals, and medical devices.
The company was formerly known as The Babcock & Wilcox Company and changed its name to BWX Technologies, Inc. in June 2015. BWX Technologies, Inc. was founded in 1867 and is headquartered in Lynchburg, Virginia.
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>> condo <<
I have a condo also, bought in 1992, a 2 BR These were originally built in 1984 and went for 40 K (!), but by 1992 I paid $79,900, and now it's worth around $280 K, maybe a little more. So just goes to show how much the value of the US dollar has eroded -- one dollar is now worth approx .14 cents in purchasing power, yikes.
I stayed in the condo and thus skipped the entire 'big house' phase that most people go through. But the downside is that those big houses are now worth 600 K - 1 mil plus, so unfortunately missed the boat on that big house profit bonanza.
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BTW, I bought the first condo in 2010 and sold in in 2013 Real estate was still falling in 2010 and Obama had payments to first time buyers, and I got something when I sold and rebought.
https://money.cnn.com/2009/02/13/real_estate/homebuyer_tax_credit_finalized/index.htm
>> residential real estate <<
Yes, it's had a huge runup in a few short years. Around here (Phila suburbs) lots of homes are up 50% in ~ 3 years. So seems like real estate should take a breather for a while, although prices might remain firm. A big factor is the lack of supply, since people don't want to give up their ultra cheap % mortgages, and thus they stay put instead of moving. The dearth of supply has jacked the prices up higher than they would have otherwise been.
It looks like % rates will be staying up for some time, so any supply increases will have to come from new home building. I see Berkshire started positions in 3 homebuilding stocks in Q2, so they obviously see the homebuilding boom continuing for some time. I looked at the sector earlier in the year, but it had already run up a lot, so I passed. With Berkshire, it's probably one of Buffett's new guys doing the buying (Weschler or Combs).
Btw, Weschler's bio (Wikipedia) says he turned $70 K into $131 mil over 28 years (!) So no surprise that Buffett hired him -
>>> According to a public statement issued by Weschler, over the course of 28 years he grew an initial Roth IRA account balance of $70,385 into $131 million. This increase implies a 31% annual return on investment. Such increases were made exclusively through the purchase of publicly available securities and are indicative of long-term market outperformance. <<<
https://en.wikipedia.org/wiki/Ted_Weschler
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When residential real estate crashed in 2007/8, farmland went UP..I bought a condo in 2010 for $79,000, sold it in 2010 for $56,000. Good deal in a sense, because I bought a bigger condo for $88,000, and they are selling now in my complex for $190,000 10 years later. I do read some so called experts expecting a residential real estate bear market.
Well, I decided to pick these up today, albeit modest positions ($1000 each) -
Agro - Deere (DE)
Energy - Occidental (OXY) (Buffett)
Defense - Sector ETF (PPA)
Water - Sector ETF (FIW, PHO)
Most asset allocation models have a 'Commodities' component, and these could fit loosely in there (except for Defense). OXY will supplement the Nuclear components within the Energy category. Agro is a tough area to find suitable long term buy/hold investments, since agro commodities are so volatile. I figure DE is very solid, and for the big agribusiness group like ADM and fertilizer / agro chemicals there is MOO. So MOO might be the next one to get.
Btw, Nice bounce for RIBT today. The only news I see is a delisting notice from the Nasdaq, so there must be something else that caused the surge. Volume was fairly low, but looks like the rise began just before 2:00 pm and then it ran up into the close. So maybe something good coming soon? :o)
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001063537/000143774923024890/ribt20230828_8k.htm
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Fwiw, I've been looking for areas to supplement the core S+P 500, bonds, cash, T-Bills, metals, so nuclear should provide some diversification. Jim Rickards likes these areas (below), and Bigworld has some of these also -
Land
Energy
Agro
Defense
Real Estate (but avoiding commercial RE)
Some conservative ideas I'm considering as long term buy/hold include -
Agro - Deere (DE)
Energy - Occidental (OXY) (Buffett)
Defense - Sector ETF (PPA)
Water - Sector ETF (FIW, PHO)
Land - this is tougher. The Farmland REITS (LAND, FPI) are interesting but extremely volatile.
Real Estate - would be best to just get a bigger primary residence, with some land / acreage. Or maybe a vacation home (?) However this requires some relatively big $, and owning real estate isn't for everyone, with the maintenance, etc. So I guess various REITS would be an option.
Thanks for any ideas :o)
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The nuclear sector had that huge decline for over a decade, then finally bottomed a few years ago, and is starting to recover. With much of the world actively building nuke plants, I figure there could be an extended recovery ahead. Helping emerging countries build nuke plants is a key factor in China-Russia's strategy to expand BRICS, and the US is being forced to scramble to get into the game via offering the new SMR / small reactors. So if everyone is getting into it, I guess us investors should too.
The sector appears to have complex dynamics, but I figure a modest investment in the broader ETFs makes sense.. I don't know enough about the sector to pick individual stocks, but Centrus Energy (LEU) sounds promising so what the heck, and the longer term chart looks interesting also.
NLR is somewhat different than the other ETFS (URA, URNM) in that it has more nuclear utilities, while the others are heavier into the uranium mining side. The NLR chart is starting to look a little near term overbought, but the others look like they may just be getting warmed up.
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Name | Symbol | % Assets |
---|---|---|
Constellation Energy Corp | CEG | 8.28% |
Public Service Enterprise Group Inc | PEG | 7.90% |
Cameco Corp | CCO | 7.27% |
PG&E Corp | PCG | 7.07% |
Endesa SA | ELE | 5.10% |
Fortum Oyj | FORTUM | 5.01% |
Paladin Energy Ltd | PDN | 4.90% |
NexGen Energy Ltd | NXE | 4.81% |
BWX Technologies Inc | BWXT | 4.72% |
Name | Symbol | % Assets |
---|---|---|
Cameco Corp | CCO | 26.08% |
Sprott Physical Uranium Trust Units | U.UN | 9.48% |
NexGen Energy Ltd | NXE | 6.08% |
National Atomic Co Kazatomprom JSC ADR | KAP | 5.38% |
Uranium Energy Corp | UEC | 4.02% |
Paladin Energy Ltd | PDN | 3.96% |
Denison Mines Corp | DML | 3.28% |
Yellow Cake PLC Ordinary Shares | YCA | 3.12% |
Energy Fuels Inc | EFR | 3.04% |
ITOCHU Corp | 8001 | 2.56% |
Name | Symbol | % Assets |
---|---|---|
Cameco Corp | CCO | 18.25% |
National Atomic Co Kazatomprom JSC ADR | KAP | 12.97% |
Sprott Physical Uranium Trust Units | U.UN | 12.65% |
NexGen Energy Ltd | NXE | 5.38% |
Denison Mines Corp | DML | 5.04% |
Paladin Energy Ltd | PDN | 4.81% |
Energy Fuels Inc | EFR | 4.78% |
Yellow Cake PLC Ordinary Shares | YCA | 4.46% |
Uranium Energy Corp | UEC | 4.44% |
Boss Energy Ltd | BOE | 4.08% |
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