This is an interview with Justin Huhn from Uranium Insider, a Uranium Newsletter.

In this conversation, we talked about Cameco focusing on expanding their tier one assets like Cigar Lake and MacArthur River. Justin also expressed confidence in higher uranium prices in future contracts, but he also highlights the constrained supply and the need for uranium production ramp-ups to balance the market.

Justin also mentioned that if the uranium bull market lasts longer than 24 months, there will be a lot of M&A. He also talks about the importance of looking at pounds in the ground for valuation metrics in a bull market.

Justin told me that there are a few companies that are egregiously valued. More specifically, he thinks some of them are unlikely to ever produce. And even if they do produce, it'll be minimal.

Visit Uranium Insider's website: https://www.uraniuminsider.com/

Timestamps:
00:00 recap
01:15 was this a good Q4 for Cameco?
03:09 is Cameco's contract book a bad thing?
14:45 why is Cameco not doing any M&A?
22:55 is buying bad uranium stocks good?
28:59 why is Cameco not operating at full capacity?
34:28 is Kazatomprom the Cigar Lake of this cycle?
45:10 where will Kazatomprom get their uranium from?
49:56 when will the biggest supply deficit occur?
52:11 how does Justin value companies?
59:12 is Uzbekistan a risk to the uranium supply chain?
01:02:39 why are Japanese utilities selling uranium?
01:06:03 which companies does Uranium Insider keep and eye on?
01:12:20 what does he buy and sell during a crash in the uranium market?
01:15:25 when is the right time to sell or buy uranium stocks?
01:23:21 why is he risking holding on his positions instead of trading?
01:25:47 when will the smal cap uranium stocks start outperforming?
01:30:26 contact details