Monsters of Rock: The Lord taketh away from uranium baggies as Cameco growth plans smash ASX stocks

"I want those uranium gains back… and put some Me-damned pants on, for my Son’s sake." Pic via Getty Images. share

The lord gives with one hand and takes with the next, a karmic lesson on the circular nature of fortune and misfortune that uranium bag holders will be feeling with distinct sobriety today.

Kazatomprom’s news it would face supply challenges had yellowcake spruikers howling last week …

Only for its western challenger Cameco to make big noise overnight about plans to dramatically ramp up production ‘when the time is right’.Production volumes from the Canadian major’s operations lifted 69% in 2023 to 17.6Mlb, with sales volumes up 25% to 32Mlb.Average realised prices lifted 11% to US$49.76/lb and 22% YoY to US$52.35/lb in the December quarter as spot prices started to surge higher — noting that uranium is largely sold on long term contracts to utilities.That saw Cameco nearly quadruple net earnings […]

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