Mart Wolbert: New Highs Coming for Uranium
Tom welcomes Mart Wolbert to the show. Mart is the founder of the Contrarian Codex Newsletter and has developed a big interest in the uranium space.
The more he has studied uranium the more convinced he has become of the importance of the yellow metal. The uranium sector has much further to go over the next couple of years.
He discusses the safety record with nuclear power. There is a case to be made that it is amongst the safest generation methods and the energy density of uranium is critical for the modern world.
There has been a lack of investment in this sector but this is changing quickly. Globally 50+ reactors are being built with another hundred planned. We need this technology to provide baseload power for a green power grid. The land use and environmental footprint of a reactor are far smaller than with wind or solar.
By the end of the decade, there will be a lot of additional demand for uranium. This will require a lot of additional mines and higher prices to bring that product to market.
Mart explains the different processing aspects of uranium and how long-term supply contracts function. The Sprott SPUT has bought a considerable amount of uranium and this could be a game-changer. It will bring the largest investors in the world with the means to enter this market. Sprott has no intent to use their inventory any time soon so essentially these pounds are off the market. In addition, there are other companies considering or already storing uranium.
There are three things to watch for in uranium companies. With most uranium companies you need to look for good management with a good asset in a jurisdiction known for a good history of safe mining operations.
Talking Points From This Episode
- Massive potential for uranium over the next decade.
- Why the world needs nuclear power as baseload energy.
- Impact of Sprott and other companies on uranium supply.
- What to look for when building a portfolio of uranium companies.
Time Stamp References:
0:00 – Intro
0:43 – Background
2:04 – Nuclear Safety
4:42 – Fuel Recycling
6:30 – Comparing Nuclear
8:40 – U.S. Investment
11:00 – Japanese Restarts
12:04 – Fuel Requirements
14:16 – KazAtomProm
16:13 – Cameco Production
18:46 – Uranium Processes
20:24 New Contract Cycle
23:26 – Sprott SPUT
29:56 – Other Buyers
31:26 – Investor Tips
34:41 – Building a Portfolio
39:37 – Newsletter & Wrap Up
Mart Wolbert is an investor with a passion for finding contrarian investment opportunities for life changing returns. He enjoys working full time on making the most of these opportunities and building a community of like minded investors.