There are mounting indications that the generally accepted high probability of continued losses in the uranium sector has been priced in. Which is to say, the medium- and long-term expected value for staunch bears is now negative, while the medium- and long-term expected value for long-suffering bulls is now positive, although the curia’s perceived probability of gains remains low.
The bears have been correct for a long time although the frequency of their correctness and magnitude of wins have declined, with a handful of exceptions.
GoviEx and Fission are two examples of names that may enjoy upside returns of a magnitude greater than those of peers, as shorts have been more frequently correct though concomitant returns have been somewhat diminished. This is a tell-tale sign of wanton complacency in the aforementioned names.
I want to own names like these whose returns are potentially a full order of magnitude greater than their peers as a result of outcomes that fly in the face of higher probability, albeit moderately-to-extremely priced-in, outcomes.
Cost to Acquire = $0.32/lb.
Cost to Build = $4.76/lb.
OpEx (LoM) = $36.43/lb.
Total Acquisition Cost = ~$43/lb.