Uranium Stocks Are Moving But What's With Term Uranium | Justin Huhn and Jimmy Connor

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Justin Huhn and Jimmy Connor discuss why the uranium price is down on the year and why long term contracting is down YOU.
WAIVER & DISCLAIMER
If you register for this webinar/interview you agree to the following: This webinar is provided for information purposes only. All opinions expressed by the individuals in this webinar/interview are solely the individuals’ opinions and neither reflect the opinions, nor are made on behalf of, Bloor Street Capital Inc. Presenters will not be providing legal or financial advice to any webinar participants or any person watching a recorded version of the webinar. The investing ideas and strategies discussed on this webinar/interview are not recommendations to buy or sell any security and are not intended to provide any investment advise of any kind, but are made available solely for educational and informational purposes. Investments or strategies mentioned in this webinar/interview may not be suitable for your particular investment objectives, financial situation, or needs. You should be aware of the real risk of loss in following any investment strategy discussed in this webinar/interview. All webinar participants or viewers of a recorded version of this webinar should obtain independent legal and financial advice. All webinar participants accept and grant permission to Bloor Street Capital Inc. and its representatives in connection with such recording. The information contained in this webinar/interview is current as of December, 2024, the date of this webinar/interview, unless otherwise indicated, and is provided for information purposes.

[@dannymcneely]

The fundamentals of this trade has not changed one iota and I remain long. As investors its so hard not to chase performance and not be caught up in FOMO but I strongly believe this trade will be 'bitcoin like' in 5 years if not sooner. Thank Jimmy and Justin!

[@BloorStreetCapital]

Thanks for the comment Danny and for taking the time to view our content!

[@markmcguire7261]

Justin Huhn is amazing and my friend. Justin is the best in the business and you have a great show james.

[@BloorStreetCapital]

Thanks for the positive comment Mark and for taking the time to view our content!

[@stepsonsam384]

He’s the worst in the business. He’s a joke. Everyone knows that too.

[@enzoloko7483]

You are right he is great making an online business dressing up as an expert when he has scammed tons of people using fake baits. He has failed all. All, when I say all is his 50x at 55, his peak in less than 18 months, his big move this year, everything he has said has been proved wrong. The fact this platform helps him to have another promo is unfair, unnecessary and a waste of time.

[@stepsonsam384]

@@enzoloko7483 agreed.

[@thaturaniumguy]

Dude, how much did you get paid to leave this comment ?

[@dereksanderson2031]

NPV-5 for $150 (the ceiling) in 2030 is $111. I'm with Jimmy here.

[@BloorStreetCapital]

Thanks for the comment Derek and for taking the time to view our content! I think it will be much higher in 2030 and people will be asking why they did such a bad deal.

[@BillSlikkerveer]

Jimmy good Q’s put the narratives on the spot!

[@BloorStreetCapital]

Thanks for the comment Bill and for taking the time to view our content!

[@thaturaniumguy]

Softballs mayhem!

[@carloslima6923]

Man, you are changing my life here in Brazil.

[@BloorStreetCapital]

Thanks for the comment Carlos and for taking the time to view our content!

[@thaturaniumguy]

Yep! Bleeding cash ...

[@mikegould9278]

Great work Jimmy

[@BloorStreetCapital]

Thanks for the comment Mike and for taking the time to view our content!

[@rickzw67]

The Nexgen contracts ceiling of $150 is for what % of their volume ? So if the contracts are for 5% of their product 95% is still available for negotiating higher prices .

[@BloorStreetCapital]

Thanks for the comment Rick and for taking the time to view our content! Good point and I will ask this during our next interview.

[@phillipwatts7226]

99 % of uranium companies have zero free cash flow from operations and will not for years so these companies are serial share dilution machines so it's a game of sentiment mostly, meaning the only way investors to make money is sentiment euphoria to contra the dampening effect of these chronic share issuance companies to find its operations because most have no realized cash flow from operations.

[@thaturaniumguy]

These gentlemen are here to promote them. Period.

[@BillSlikkerveer]

Long term contracting is Not reflected in the jr mkt prices…why?.

[@thaturaniumguy]

Because it's a scam.

[@rajivvaid6184]

Any update on SMR, OKLO? Both have been tanking ~20% last week. Time to buy soon?

[@BloorStreetCapital]

Thanks for the comment/question Rajiv! I will bring this up during our next interview.

[@thaturaniumguy]

Well, I recall Justin's magnificient trading of SMR... As for OKLO, he refered to it as a meme stock.

[@jackyeoman4685]

Why are Australian equities performing so badly? Some including Paladin are 50% down

[@elijahschnake3863]

Paladin is down because they're failing to increase production by as much as expected

[@BloorStreetCapital]

I can’t speak for all but Paladin is in Africa so that’s a negative and then they have had production delays and that’s another negative and they don’t communicate with the markets so that’s 3 strikes. I have reached out to them numerous times to do an interview and they always decline so that’s tells me everything I need to know. I would stay away from Paladin.

[@georgeholloway3981]

Your explanation doesn't make sense. There are lots of miners in Africa. The 50% can't be explained by their geographical location, unless something specific has happened in the last six months in Africa that would explain the relevance of their being in Africa.

[@friendlychat34]

It's not unique to Paladin. Deep yellow also way down. Lotus. Bannerman. Australian Market has lost interest in uranium for now. I see an upswing coming from momentum charts but who freaking knows.

[@BloorStreetCapital]

@@friendlychat34 Im not as familiar with that market but I will address this during my next discussion with Justin.

[@Pchangnyc_Jedi]

Thanks jimmy and justin for the updates

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content!

[@georget8019]

Great show! Thank you both, guys. Regards from Australia!

[@BloorStreetCapital]

Thanks for the comment George and for taking the time to view our content! Hope all is well in Australia.

[@johnelliott672]

2023 contracting was a false indicator due to 2 big deals. One w Ukraine for over 40-50 million lbs alone. Otherwise regular contracts around 80 mlb annually 2023. Some utilities bought enriched uranium to cover 5 yrs prior to ban voted through vs Russia.

[@BloorStreetCapital]

Thanks for the comment John and for taking the time to view our content!

[@thaturaniumguy]

It's a broken market.

[@nathanielringdahl]

Great interview. Frankly I feel like much of the reason miners are lagging is what to me looks like tech/crypto mania, and the market just doesn’t see this sector at the moment. No one cares about value at this point, it’s all momentum and hype they’re after. I’ll wait it out 🤷‍♂️

[@dannymcneely]

agreed but when you see hawk tuah girl selling a shit coin you know the end is near

[@BloorStreetCapital]

Thanks for the comment Nathan and for taking the time to view our content! You raise a good point about hype and thats what we have with bitcoin.

[@tonyperrotti5049]

$ccj has value ? Trading at over 100x pe for the next 3 years . Look at their contract book .

[@nathanielringdahl]

@ Putting words in my mouth, shoo fly

[@thaturaniumguy]

Uranium stocks offer very little value.

[@stevewalker4617]

Its interesting to see the two largest utilities Vistra up 300% and Constellation up 150% but Cameco only up 50%. I think you touched on this but the sector is just too small for many large funds and they have to go where the liquidity is. All these names on the come ie Nexgen, Denison etc dont matter. They are retail names only.

[@BloorStreetCapital]

Thanks for the comment Steve and for taking the time to view our content! I didn't realize Vistra was up that much.

[@thaturaniumguy]

Justin doesn't dwell into meme stocks.

[@johnzoppi8913]

The other thing thats happening is utility companies are contracting uranium future prices already so the spot price is irrelevant

[@jimbob1427]

Sorry but justin is wrong on the 150 cap on the nexgen contracts it's a terrible outcome for the industry. He's overflowing it by far, 150 year ls.out is not a great result

[@BloorStreetCapital]

I agree! I know today it looks good but 5 years from now I think people will say WTF were they thinking selling U at $150

[@thaturaniumguy]

Justin has been wrong ever since he published a newsletter.

[@BillSlikkerveer]

Buyers mkt not seller - brownfields selling at spot

[@thaturaniumguy]

100% Cameco still selling legacy contracts at 40$/lbs

[@asafgr]

Good interview

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content!

[@johnzoppi8913]

I like uranium but spot price is down????

[@thaturaniumguy]

Never been so happy to leave a thumbs down. You are welcome.

[@tonyperrotti5049]

Look at Nexgens mk cap. Its priced for $100 uranium

[@BloorStreetCapital]

Thanks for the comment Tony and for taking the time to view our content! I didn't realize it was priced that high.

[@BillSlikkerveer]

Agree about uxc polling methods - worthless…and seems to workin buyers favor

[@BloorStreetCapital]

I would agree. Traditional polling is useless. When is the last time you picked up a call that says 'Survey' or 'Spam'? No one does. That's why the polls were so wrong on the last 3 elections.

[@BillSlikkerveer]

Nexgen needs financing- disclosure helps

[@BillSlikkerveer]

Rule is likely correct- the easy money has been made and until brownfields produce and disclose their fundamentals prices remain flat….

[@BloorStreetCapital]

It would appear so. What we need now is for the spot and term prices to rip to new levels.

[@bellavistadanes3881]

I am still on the Uranium bus ! appreciate Justin talking about the LTCs

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content!

[@johnzoppi8913]

the other thing I want to say is we are years away from this uranium demand justin is talking about and many uranium companies will be in production.

[@BloorStreetCapital]

Yes we are years away but production is to. I think we have seen with names like Paladin and Boss there are always issues.

[@johnzoppi8913]

@@BloorStreetCapital yes but the spot price seems like its no big deal. Time will tell.

[@thaturaniumguy]

@@BloorStreetCapital Utilities are well covered until 2030, thanks to flexing up legacy contracts, carry trading and procuring through Russia before war, and still thru China right now. By then, NXE and DNN will be producing. So long for your dear bull.

[@B-H76]

When was this recorded?

[@BloorStreetCapital]

Thur Dec 5, 2024

[@B-H76]

@BloorStreetCapital ok thankx

[@thaturaniumguy]

Right before the bloodbath.

[@andrewsuen804]

Even though Nexgen’s ceiling seems not high at 2028 timeframes, but this might be just the lower end of their contract book

[@BloorStreetCapital]

Thanks for the comment Andrew and for taking the time to view our content!

[@andrewsuen804]

@ thanks for the excellent content putting out, surprised you do not have more followers

[@MeuMei-z7y]

Thank

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content!

[@geary2]

Very timely questions considering the present state of equity performance /spot prices, and well answered by UI

[@BloorStreetCapital]

Thanks for the comment Geary and for taking the time to view our content!

[@SteveBarker-v2m]

I think you clicked to comment in the wrong place. This is about Uranium, not cryptoclownery

[@BloorStreetCapital]

Thanks for the comment Steve and for taking the time to view our content! You cant escape these crypto bots!

[@paulthomson4200]

great informative discussion =thanks you.

[@BloorStreetCapital]

Thanks for the comment Paul and for taking the time to view our content!

[@donmarek7001]

So Hildebeast won't be able to make any more uranium deals with Putin? 🙂

[@johnzoppi8913]

spot price is not looking like a shortage anytime soon

[@BloorStreetCapital]

Thanks for the comment John and this is one of the questions I addressed with Justin.

[@johnzoppi8913]

@@BloorStreetCapital I understand Justin has alot of knowledge about uranium but I think everybody is underestimating the utility companies and what they know. the spot price is telling a serious story that justin might be overlooking?

[@BloorStreetCapital]

@@johnzoppi8913 Agreed reminds me the gold price except the opposite. Physical gold is doing very well maybe bec of Central Bank buying but many of the stocks are pricing in a much lower gold price. So which asset class is correct? I will ask Justin and others in coming interviews what might be the one thing we are missing.

[@thaturaniumguy]

Long term price also.

[@thaturaniumguy]

@@BloorStreetCapital I don't think you should ask a guy who as an abysmal track record.

[@B-H76]

I wish trump would keep Grandholm as secretary of Energy

[@DumstigB]

US has already lost the AI race to China.. smarter, more disciplined, harder working

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content! No one can deny that China is way ahead of the curve.

[@georgeholloway3981]

What is your evidence supporting this claim? Or do you have specific personal knowledge about the Chinese?

[@BloorStreetCapital]

@@georgeholloway3981 I think what he is saying is that China is thinking 10, 20, 30 years out but we in the West are thinking about this quarter and next quarter. A perfect example of this is with lithium-ion batteries. The Chinese got on this 20 years ago and as a result no one else can manufacture lithium-ion batteries for EVs and what's so hilarious about that is the Chinses produce very little of the metals needed for batteries. They are doing the same thing right now with nuclear energy and uranium. They mine very little but they are buying everything they can. Once again they are thinking in decades and not quarters.

[@ronaldwoods8979]

You said it in one of your other interviews with Yellow Bull that you must be patient and I think it helps to stay away from social media. Too much noise.

[@BloorStreetCapital]

So easy to get caught up in FOMO with BTC, Plantir, and Nvidia.

[@thaturaniumguy]

It also helps to stay away from newsletters.

[@rrrrrrktjtj]

Love your interviews. Honestly I'm glad that we are even starting to see contracts getting signed. Maybe nexgen just wants the like... the leverage it needs to build the mine as fast as possible even if it means foregoing potential upside for the 5mil/231mil it has. Directionally, it's optimistic but the thing about nuclear is that the fuel costs could triple or quadruple and it ~could~ still be exponentially cheaper if the poison pill regulations and permitting is nuked. As you said, if anyone could do it, its Elon Musk.

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content! What Elon has done with EVs and SpaceX is truly remarkable.

[@BillSlikkerveer]

High high level narratives..nothing new. Nothing about what it will take for for miners stock to rerate based on fundamentals. Meanwhile the spot mkt continues to be manipulated and the disconnect between term mkt and spot.Brownfields across the board struggling.

[@BloorStreetCapital]

Yes what we need now is some meaningful long term contracting and we need to see the details like NexGen released.

[@stuartgersten]

THE JUNIORS ARE ACTING LIKE SHIT WITH ALL THE DRILLING GOING ON WHEN DO THEY MOVE?

[@BloorStreetCapital]

Thanks for the comment/question Stuart! What names specifically?

[@thaturaniumguy]

@@BloorStreetCapital 95% of them.

[@jekatskin3860]

Thanks guys, should I swap my sprott for Cameco or hold both to diversify?

[@BillSlikkerveer]

UI is nothing more than a cheerleader for the “narratives” of the day

[@enzoloko7483]

I would like to put links since 2020 tons of his interviews when he has failed over over and over to have people who trust him with lies and then get dissapointed.

[@brandonmesser2503]

Funny how it was this sector skyrocketed because it soo small. Then it changes to a long term slow growth play

[@thaturaniumguy]

@@enzoloko7483 You should seriously start compiling a library of those.

[@thaturaniumguy]

It's gonna end up being very disappointing.

[@enzoloko7483]

This guy doesn’t deserve to have any opportunity for promo. His mistakes are publicaly signaled. I don’t think is a good idea to let this scammers to have this guy who has only failed over over and over. People like me since 2020 and we know Justin, his marketing strategies, his fake baits we deserve some respect.

[@enzoloko7483]

Please don’t delete the comment. Some people deserve to see the truth. No 50 x at 55, no strong buying opportunity in Nov 2021 and no big move in equities this year. I can put all kind of twits, interviews and failures. All are recorded, just regarded newbies people could pay 800 to this guy.

[@BloorStreetCapital]

@@enzoloko7483 Unless it's insulting I don't delete. Everyone is entitled to their opinion. You evidently don't like Justin's research but many people do.

[@hennagaijin7856]

@@BloorStreetCapital I think Justin is doing a great job. I have been in this trade since 2021, and I have gone through many ups and downs. Therefore, I understand Enzoloko's pain. But what Enzoloko does not understand is that when you get in early, it's going to take a superhuman amount of patience to persevere through the volatility associated with mining developers. And most people, including Enzoloko, do not have that patience. Enzoloko needed this market to skyrocket immediately. But that's not how this works, as most of us know. We still have not experienced a full capital rotation, yet, from the broad markets to commodities. We're going to have to endure more waiting, as a result. I would advise anybody toying with the idea of investing in mining stocks, at the very least, have absolutely no consumer debt and have a good cash position ready to deploy. If this is not you, you're not going to be able to wait out the insane roller coaster ride associated, not just with uranium, but any commodity. This is a complicated sector, and Justin is one of the few analysts who has the ability to explain this sector right down in a language that we can all understand. Just because Enzoloko is bitter does not mean that this sector is not a good buy. He made a lot of mistakes.

[@danver3DS]

When enzoloko comments that's my signal for the bottom of the dip. Time to buy!

[@hennagaijin7856]

@@danver3DS 🤣🤣🤣

[@enzoloko7483]

Uranium insider is a lier saying that equities are outperforming. Urnm are underperforming vs sp500 by -35% this year. My portfolio of 30 u stocks are down around 15% this year. Look at boss, paladin, global, lotus, encore… Please be professional.

[@thaturaniumguy]

Justing is still up +400%

[@togoni]

War can't end the way territories are occupied right now 🤦🏼‍♂️🤦🏼‍♂️ Still America is thinking about relying on Russia 🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤪🤦🏻‍♂️🤦🏻‍♂️🙉🙉

[@johnspringer6003]

Jimmy Conner, if i wanted a political conversation I'd look for a political podcast or KZbin. FFS dude, you KEPT bringing up politics over and over and OVER.

[@ChemicalEngineer]

Exactly!

[@BloorStreetCapital]

Thanks for the comment John but politics plays an important part in the evolution of most industries so it must be addressed. The Biden administration put forth the Inflation Reduction Act and this had a profound impact on EVs, solar farms, wind farms, and the mining of critical minerals. The construction of Lithium America's Thacker Pass is because of the IRA. We don't know what the Trump administration will do with nuclear energy and other industries but you can not assume it will be business as usual.

[@gibbogle]

I think Trump will do whatever Putin demands, and the Republicans in Congress will do whatever Trump demands. Voting opposite to what they previously voted will be no problem for Congressional Republicans.

[@flamingdragon3861]

Why would he do whatever Putin demands?

[@BloorStreetCapital]

Thanks for the comment and for taking the time to view our content! Time will tell.

[@animalsarebeautifulpeople3094]

Hmm I advise you to stop watching mainstream media run mostly by lefties pushing pro democratic party narrative

[@ChemicalEngineer]

TDS

[@gibbogle]

@@flamingdragon3861 It is strange, isn't it?

[@BillSlikkerveer]

Don’t give a rats about utility prices

[@dereksmith3779]

While i respect everyone's opinion, im going to keep listening to people up 400% plus. I don't take diet advice from fat people. I don't take investment advice from broke people

[@BloorStreetCapital]

I like that analogy Derek, I might have to use it.

[@thaturaniumguy]

His numbers are clearly manipulated.

[@kylefunston7]

NEXGEN --- Bought Out ---- ? Absolutely a great opportunity for some very large oil and gas company perhaps...? Once they aquire the final approval It's game on. The stock will be a very hot and be a great investment. 20 years + ....first permit to be issued. Keep in mind that they are to release the latest drill results. Let's see what happens with the price when it happens. Cameco level....probably not But it is not at $21.00 Saskatchewan is looking for a serious financial impact in the future. Denison...Etc.....will be a very solid investment opportunity for the global investors. Just a thought.....

[@BloorStreetCapital]

Thanks for the comment Kyle and for taking the time to view our content! And Sask is one of the top mining jurisdictions in the entire world! You don't have to worry about the government stealing your assets ie Panama or Niger