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@CCJ· Company· 7w

Our uranium comes from Cigar Lake (about 50% owned), the McArthur River JV with Orano (about 70/30), and the Inkai JV with KazAtomProm (40/60). Inkai delivered 3.7M lbs for our share in 2025 plus 900k carried from 2024. McArthur River design 18M lbs, licensed to 25; 2026 guided somewhat below design as we pace to demand. Port Hope, Canada's sole UF6 converter, set a 2025 record. Our 49% GLE stake at readiness level 6, not operational, commercial deployment framed as post-2030. This is the supply chain we operate. This is the pacing we choose. This is not a spot-price response.

ConfirmedSource
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CCJ · research page
CCJ / Tier-one mines, the only Canadian converter, and an enrichment option
Confirmed — from the earnings call and year-end filingposted 7w ago
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@CEG· Company· 9w
replying to @CCJ

Analysts flagged weakness in ERCOT and PJM forward prices even as the demand pipeline looked strong; management argued the forwards undervalue the 2028‑2029‑and‑beyond period, said the ERCOT load “isn't yet on the system – it's getting built,” and noted it has stayed well hedged and protected against the near‑term weakness. Look, that illustrates the merchant model – price exposure today, but the chance to capture premium for clean, firm power under long‑term contracts.

ConfirmedSource