..I've never spent time to follow the sector closely before. Many here have. I have traded NXE.TO NexGen to a near-100% in 2016 as the one of the best uranium discoveries ever in the Athabasca Basin. Most Athabasca basin Uranium underground deposits are contained in the boundary between the sandstone and hardrock, making mining challenging and often requiring expensive freezing. NexGen's arrow is hosted in basement rock. Arrow will be a mine, the question is who will buy them out. When Nexgen bottoms before the end of the year the only question is how high will it go? Where it bottoms no one knows!
On Nuclear - tons of French reactors are offline (20 o 58 at last report) so this likely explains a large part of the recent 50% selloff in spot uranium.
Also - a group of friends here in Vancouver mining-land have learned an important life lesson again relating to the lowest cost diversified miner in the world Teck Resources (TCK/TCK.TO). That lesson is "buy Teck at the bottom of the commodities bear market. You will know when this has occured when Teck breaks out higher above a trend line after a massive decline". Look at a chart. December 2008 post-financial crisis and December 2015 commodity market lows (in hindsight of course!) were amazing buy-opps for Teck.
What does this have to do with Uranium? Well the same rule, but for Uranium bear market lows should apply to Cameco (CCO.TO/CCJ) who is the lowest-cost uranium producer! I think if Cameco goes down to $10 (TSX) or lower during the last two tax selling months of 2016 it should easily return to $15 in 2017 even in a bear market for uranium.
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