– Senate Passes Ban Of Russian Uranium Imports, Risking Market “Havoc” And Soaring Prices:
https://archive.is/DCKLT
With shares of CCJ tumbling earlier today after the company reported soggy Q1 earnings, despite its recent initiating coverage report by an enthusiastic Goldman Sachs which sees the Uranium company at the forefront of the “Next AI trade” and slapped it with a $55 price target (as we reported previously), the uranium trade suddenly found itself in need of a miracle.
It got that after hours, when the Senate voted late on Tuesday to approve legislation banning the import of enriched uranium from Russia – the same Russia which supplies 25% of the uranium used by the 90 US commercial nuclear reactors – and sending the measure to the White House which has said it supports efforts to block the Kremlin’s shipments of the reactor fuel and is expected to sign the deal, guaranteeing that uranium prices will soar.
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“But if there is an immediate ban it could be even more extreme,” Hinze said. “There are very limited supplies available.”
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