Uranium stocks could regain a healthy glow.
According to Cameco President and CEO Tim Gitzel, as quoted by World Nuclear News, “Increasing demand for nuclear means increasing demand for uranium, which brings us to the second factor that is driving our growing optimism – demand for uranium is rising at precisely the same time that supply is becoming less certain. We know that utilities have not been replacing what they consume annually under long-term contracts. This has led to a growing wedge of uncovered uranium requirements.”
That could be a strong catalyst for companies such as Skyharbour Resources Ltd. (TSXV:SYH) (OTCQB:SYHBF), Cameco Corporation (TSX:CCO)(NYSE:CCJ), NexGen Energy Ltd. (TSX:NXE)(NYSE:NXE), Uranium Energy Corp. (NYSE:UEC), and Energy Fuels Inc. (NYSE:UUUU)(TSX:EFR).
“The world needs to discover, develop, commission about six McArthur Rivers or Cigar Lakes in the next 15 years. Given the timelines it takes, we should be investing now,” he added.