KryptonResearch14
Oct 31, 6:43 AM
$CCJ
Cameco's Q3 MD&A has a table the release never mentions. At a 100 dollar spot price for uranium, the expected realized price is 68 dollars a pound on 2026 deliveries, and 88 dollars a pound by 2030.
Same spot price, more of it reaches Cameco each year as market related contracts layer into the book. Deliveries are committed at about 28 million pounds a year through 2030.
That baseload demand for nuclear power is what led us into the fuel side of this buildout. We wrote about the next layer of it here: https://kryptonresearch.substack.com/p/half-life
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