>>> Uranium ETF (URA) Hits New 52-Week High


Zacks

by Sanghamitra Saha

December 19, 2023


https://finance.yahoo.com/news/uranium-etf-ura-hits-52-120000233.html


For investors seeking momentum, Global X Uranium ETF URA is probably on radar. The fund just hit a 52-week high and is up 65.4% from its 52-week low price of $18.31/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

URA in Focus

The underlying Solactive Global Uranium & Nuclear Components Total Return Index seeks to track the price movements in shares of companies which are active in the uranium industry. The fund has allocations to the energy and industrial sectors, with share of 61.8% and 18.6%, respectively. The product charges 69 bps in annual fees (See: all Materials ETFs here).

Why the Move?

The upbeat outlook in the sector results from growing interest in nuclear energy, which has led several developed nations to invest in new infrastructure projects while extending the operational life of their existing nuclear power stations. The ongoing energy issues and the requirement for dependable, environmentally friendly energy sources are helping in the sector’s upsurge.

The latest COP-28 powered the ETF. At COP28, delegates from around 200 countries reached an agreement to initiate the reduction of global fossil fuel consumption, signifying a critical step in reducing the worst effects of climate change and the ultimate departure from the era of oil dependence.

Driven by robust market demand and bright prospects, according to carbon credits, the uranium spot price hit its 15-year peak, reaching $85 per pound, supporting analyst estimates for a future market rally in the metal’s price.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 56.50, which gives cues of a further rally.

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Ukraine attacks nuclear power plant -

(mad bomber Zelensky strikes again)


>>> What are the risks at Zaporizhzhia nuclear power plant after drone attack?


Reuters

By Guy Faulconbridge and Francois Murphy

April 8, 2024


https://www.reuters.com/world/europe/nuclear-power-plant-eye-ukraine-war-2024-04-08/


MOSCOW/VIENNA, April 8 (Reuters) - Russia said Ukraine struck the Zaporizhzhia nuclear power station controlled by Russian forces three times on Sunday and demanded the West respond, though Kyiv said it had nothing to do with the attacks.

The International Atomic Energy Agency (IAEA) has long warned of the risks of a disaster at Zaporizhzhia, Europe's largest nuclear plant, and urged an end to fighting in the area. The plant is just 500 km (300 miles) from the site of the world's worst nuclear accident, the 1986 Chornobyl disaster.

What nuclear material is at the Zaporizhzhia plant, what are the risks and why are Russia and Ukraine fighting over it?

WHAT IS IT AND WHAT WAS ITS CAPACITY?

The Zaporizhzhia nuclear power plant has six Soviet-designed VVER-1000 V-320 water-cooled and water-moderated reactors containing Uranium 235. They were all built in the 1980s, though the sixth only came online in the mid-1990s after the collapse of the Soviet Union. All but one of the reactors are in cold shutdown. Reactor unit 4 is in "hot shutdown", mainly for heating purposes. IAEA Director General Rafael Grossi says that fighting a war around a nuclear plant has put nuclear safety and security in "constant jeopardy".

WHAT HAPPENED ON APRIL 7?

Russia's state nuclear corporation, Rosatom, said Ukraine attacked the plant three times on Sunday with drones, first injuring three near a canteen, then attacking a cargo area and then the dome above reactor No. 6.

IAEA experts at the site went to the three locations of the attacks and confirmed there had been an attack. "Russian troops engaged what appeared to be an approaching drone," the IAEA said. "This was followed by an explosion near the reactor building."

"While the team so far has not observed any structural damage to systems, structures, and components important to nuclear safety or security of the plant, they reported observing minor superficial scorching to the top of the reactor dome roof of Unit 6 and scoring of a concrete slab supporting the primary make-up water storage tanks," the IAEA said.

The IAEA did not say directly who was to blame for the attacks. A Ukrainian intelligence official said Kyiv had nothing to do with any strikes on the station and suggested they were the work of Russians themselves. (lol)

WHAT ARE THE RISKS?

Russian forces took control of the plant in early March 2022, weeks after invading Ukraine. Special Russian military units guard the facility and a unit of Russia's state nuclear company, Rosatom, runs the plant. Nuclear reactors' containment structures like Zaporizhzhia's are made of steel-lined reinforced concrete designed to withstand the impact of a small plane crash so there is little immediate risk from a minor attack on those structures. A 1989 study by the U.S. Department of Energy found that the model of containment structure used in Zaporizhzia "exhibits vulnerabilities to the effects of an aircraft crash" and a fighter jet crashing downwards into the dome, where the structure is thinner, could penetrate it, causing concrete chunks and aircraft engine parts to fall inside.

External power lines essential to cooling nuclear fuel in the reactors are a softer potential target. Cooling fuel even in reactors in cold shutdown is necessary to prevent a nuclear meltdown. Since the war began the plant has lost all external power eight times, most recently in December last year, forcing it to rely on emergency diesel generators for power. Water is also needed to cool fuel. Pressurised water is used to transfer heat away from the reactors even when they are shut down, and pumped water is also used to cool down removed spent nuclear fuel from the reactors. Without enough water, or power to pump the water, the fuel could melt down and the zirconium cladding could release hydrogen, which can explode.

WHAT ABOUT THE SPENT FUEL?

Besides the reactors, there is also a dry spent fuel storage facility at the site for used nuclear fuel assemblies, and spent fuel pools at each reactor site that are used to cool down the used nuclear fuel. Without water supply to the pools, the water evaporates and the temperatures increase, risking a fire that could release a number of radioactive isotopes. An emission of hydrogen from a spent fuel pool caused an explosion at reactor 4 in Japan's Fukushima nuclear disaster in 2011.

WHAT HAPPENS IN A MELTDOWN?

A meltdown of the fuel could trigger a fire or explosion that could release a plume of radionuclides into the air which could then spread over a large area. The Chornobyl accident spread Iodine-131, Caesium-134, Strontium-90 and Caesium-137 across parts of northern Ukraine, Belarus, Russia, northern and central Europe. Nearly 8.4 million people in Belarus, Russia and Ukraine were exposed to radiation, according to the United Nations. Around 50 deaths are directly attributed to the disaster itself.

But 600,000 "liquidators", involved in fire-fighting and clean-up operations, were exposed to high doses of radiation. Hundreds of thousands were resettled. There is mounting evidence that the health impact of the Chornobyl disaster was much more serious than initially presented at the time and in the years following the accident. Incidence of thyroid cancer in children across swathes of Belarus, Russia and Ukraine increased after the accident. There was a much higher incidence of endocrine disorders, anaemia and respiratory diseases among children in contaminated areas.

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>>> Vistra Corp. (NYSE:VST) - Number of Hedge Fund Investors: 56

https://finance.yahoo.com/news/billionaire-stanley-druckenmiller-top-12-114039919.html

Duquesne Capital’s Q4 2023 Investment Value: $91.87 million

Vistra Corp. (NYSE:VST), headquartered in Irving, Texas, is a prominent integrated retail electricity and power generation company serving customers, businesses, and communities across the United States, spanning from California to Maine. Renowned for its leadership in the energy transformation sector, Vistra Corp. (NYSE:VST) plays a pivotal role in shaping the future of energy.

On March 1, Vistra Corp. (NYSE:VST) announced the successful completion of its acquisition of Energy Harbor Corp. This strategic move enhances Vistra's position in the integrated zero-carbon generation and retail electricity market by adding approximately 4,000 megawatts of 24/7 nuclear generation capacity and expanding its customer base by approximately 1 million retail customers.

By the end of 2023’s fourth quarter, 56 out of the 933 hedge funds surveyed by Insider Monkey were the firm’s investors. Stanley Druckenmiller owned approximately $92 million worth of VST shares as of the end of 2023

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>>> Vistra Corp. (VST), together with its subsidiaries, operates as an integrated retail electricity and power generation company. The company operates through six segments: Retail, Texas, East, West, Sunset, and Asset Closure. It retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia. In addition, the company is involved in the electricity generation, wholesale energy purchases and sales, commodity risk management, fuel production, and fuel logistics management activities. It serves approximately 4 million customers with a generation capacity of approximately 37,000 megawatts with a portfolio of natural gas, nuclear, coal, solar, and battery energy storage facilities. The company was formerly known as Vistra Energy Corp. and changed its name to Vistra Corp. in July 2020. Vistra Corp. was founded in 1882 and is based in Irving, Texas. <<<



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>>> AI Is Giving Nuclear Power a Big Lift. 4 Stocks Riding the Trend.

Data centers being built to run AI systems require lots of power. Nuclear power is exceptionally well suited to meeting such enormous demands.

Barron's

by Avi Salzman

March 28, 2024


https://www.barrons.com/articles/ai-nuclear-power-stocks-8852a830


A small set of companies that own nuclear reactors have seen their stocks soar at Nvidia-like rates in the past few months, part of a little-noticed renaissance in an industry that hasn’t had much to brag about in years. They can thank artificial intelligence.

Nuclear power, it turns out, is exceptionally well suited to meeting the enormous electricity demands of data centers for AI. As a result, the stocks of Constellation Energy CEG, Vistra, and Talen Energy are each up more than 90% in the past year. There’s a good chance they’ll go still higher.

“The world clearly is moving in our direction,” said Constellation CEO Joe Dominguez on the company’s latest earnings call.

For years, most of the world was moving in the opposite direction. The fear of nuclear accidents like the 2011 Fukushima disaster is part of the problem. But economics have played a role, too. Operating a nuclear plant has been a terrible business — barely profitable without government subsidies. Generating electricity from nuclear fuel often costs more than generating it from natural gas, because natural-gas prices have fallen during the U.S. shale-drilling revolution. The growth of renewables also complicates life for nuclear power owners. When strong winds gust in Texas, the surge of wind power can cause electricity prices to fall below zero...

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>>> BWXT-led Team Awarded $45 Billion Environmental Management Contract for DOE’s Hanford Site


BusinessWire

March 4, 2024


https://finance.yahoo.com/news/bwxt-led-team-awarded-45-214500395.html


LYNCHBURG, Va., March 04, 2024--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) today announced a contract with an estimated value of up to $45 billion over a 10-year ordering period from the U.S. Department of Energy (DOE) for environmental management operations at the Hanford Site in Washington.

The DOE announced that the Hanford Integrated Tank Disposition Contract (ITDC) was awarded to Hanford Tank Waste Operations & Closure, LLC (H2C), which is a joint venture led by a BWXT subsidiary and includes subsidiaries of Amentum and Fluor.

"This is an important award for BWXT and represents a significant objective as we continue to leverage our technical capabilities on high-consequence environmental restoration sites," said Rex Geveden, BWXT’s president and chief executive officer. "We are dedicated to supporting the U.S. Department of Energy’s environmental stewardship at this site, as well as national security and cleanup work for DOE sites across the nation."

"Our team is both honored and appreciative that DOE has selected us to take on the largest and most complex radioactive waste cleanup project in the United States," said Heatherly Dukes, president of BWXT’s Technical Services Group. "We are committed to working with our DOE Environmental Management customer, regulatory authorities and the Tri-Cities community in safely reducing the environmental liabilities at the site in an efficient and effective manner that is protective of the workforce, the public and the environment."

The scope of the ITDC includes operation of Hanford tank farm facilities, eventual operation of the Waste Treatment and Immobilization Plant, and responsibility for other core functions such as project management, security and emergency services, business performance, and environment, safety, health and quality.

The DOE is engaged in one of the great public works projects of this century at the Hanford Site near Richland, Washington. Responsible for the federal government’s cleanup of the legacy of more than 40 years of producing plutonium through the 1980s, DOE is transforming the site back into an operations mode to treat tank waste from the production era.

About BWXT

At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental restoration, nuclear medicine and space exploration. With approximately 7,800 employees, BWXT has 14 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at a dozen U.S. Department of Energy and NASA facilities.

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>>> Constellation Forecasts Strong Earnings Growth in 2024 and Beyond as Demand and Support for Clean Energy Builds


BusinessWire

February 27, 2024


https://finance.yahoo.com/news/constellation-forecasts-strong-earnings-growth-105500886.html


Initiating full-year Adjusted (Non-GAAP) Operating Earnings per share guidance of $7.23 to $8.03

Nuclear PTC provides earnings visibility and platform for growth

Announcing 25% dividend per share growth, exceeding 10% annual dividend growth target

Started next $1 billion in share repurchases

Targeting long-term base EPS growth of at least 10% through the decade


BALTIMORE, February 27, 2024--(BUSINESS WIRE)--Marking the start of its third year as an independent company, Constellation, the nation’s largest producer of carbon-free energy, will host a virtual investor and analyst event via webcast today to lay out a forecast for earnings growth based on the strength of its industry-leading commercial business and market and policy recognition that nuclear energy is essential to addressing the climate crisis while preserving grid reliability and the nation’s energy security.

"The most valuable commodity in the world today remains clean energy that can be depended on in every hour of every day, and no U.S. company is better positioned to deliver on that promise than Constellation, which has more clean, reliable nuclear capacity than all other U.S. competitive generators combined," said Joe Dominguez, president and CEO of Constellation. "State and federal policies, bipartisan political support, public opinion surveys and increased customer demand for reliable and clean energy all point to strong and growing support for nuclear energy to power our economy for decades to come. Combined with our industry-leading Commercial business that helps our customers achieve their climate goals, we see a growing landscape of opportunities to continue building our business and lead the clean energy transition."

Highlights from the Investor Update

Strong financial outlook with predictable earnings: Constellation initiated guidance for 2024 Adjusted (Non-GAAP) Operating Earnings of $7.23 to $8.03 per share. The Adjusted (Non-GAAP) Operating Earnings guidance excludes the effects of the following from projected GAAP net income:

Unrealized impacts of fair value adjustments

Decommissioning-related activities

Pension and Other Postretirement Employment Benefit (OPEB) non-service credits

Separation costs

Enterprise Resource Program (ERP) system implementation

Other items not directly related to the ongoing operations of the business

Noncontrolling interest related to exclusion items


The nuclear production tax credit (PTC) in the IRA provides a stable foundation for consistent and growing earnings that will allow Constellation to continue investing in growth opportunities, including by adding clean energy generation to its fleet through uprates, repowering wind assets, license extensions and asset acquisitions while also returning capital to shareholders. The PTC provides revenue visibility and also preserves Constellation’s ability to capture upside from tightening power market conditions.

Long-term base EPS growth of at least 10%: Constellation is targeting long-term base earnings per share (EPS) growth of at least 10% through the decade backstopped by the nuclear production tax credit in the Inflation Reduction Act (IRA) and effective deployment of our strong free cash flow generation.

Base earnings, a significant component of total Adjusted (Non-GAAP) Operating Earnings, are consistent, visible earnings that will grow over time and can be modeled using simple price times quantity calculations, such as expected generation volumes times price or customer margins times volumes. The company has opportunities to grow base earnings faster by monetizing the value of the reliable, carbon-free nuclear power generated at its Clean Energy Centers through hourly carbon-free matching solutions, behind-the-meter opportunities like data centers or hydrogen, government clean energy procurements or higher market prices.

Constellation's Assets Are Unmatched

Growth fueled by customer demand: With a customer-facing business that serves three fourths of Fortune 100 companies and 21% of the competitive C&I market, Constellation is well positioned to meet the growing needs of digital infrastructure and other essential industries looking for reliable, carbon-free electricity to power economic growth. U.S. electricity demand is expected to grow twice as fast through 2030 compared with the past decade, while at the same time the grid is growing more dependent on intermittent resources. Major tech companies alone are expected to make significant investments to expand our nation’s digital infrastructure over the next five years, with data centers growing from 2% to 7.5% of U.S. electricity demand by 2030. The nation’s top technology firms have set goals to power this growth with clean and dependable energy. Growing recognition of nuclear energy as a reliable clean energy resource creates opportunities for Constellation to forge new customer relationships and capture additional value from our 180 million MWh of annual clean energy output.

World-class operations are a competitive advantage: Constellation is ranked No. 1 in operational metrics among major nuclear operators, with our clean-energy fleet avoiding the equivalent of 251 million metric tons of carbon dioxide pollution over the past two years. The company’s nuclear fleet achieved a 94.6% capacity factor from 2022-2023, approximately 4% above recent industry average. That additional output compared with industry peers is the equivalent of having another reactor’s worth of power or $335 million in additional annual revenue (pre-tax).

Returning value to shareholders: Constellation announced plans to grow its dividend per share by 25% this year, exceeding the company’s dividend growth target of at least 10% annually. This brings the total dividend increase to 150% in two years. The company completed its first $1 billion stock repurchase plan last year, and in December the board approved an additional $1 billion repurchase with $150 million already executed.

Dividend Declaration: Our Board of Directors has declared a quarterly dividend of $0.3525 per share on our common stock. The dividend is payable on Tuesday, March 19, 2024, to shareholders of record as of 5 p.m. Eastern time on Friday, March 8, 2024.

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Looks like nuclear is the 'go to' power source for BRICS and the developing countries of the world. But the US and Europe? It's hard to believe the Western globalists will willingly reverse their anti nuclear policies, although they might be forced back to nuclear to remain competitive. For BRICS countries, windmills and solar panels clearly aren't going to cut it, and one of the big draws for emerging countries to join BRICS is that China and Russia will help them build nuclear plants. To compete, the US may have to do the same, albeit reluctantly.

But once an emerging country has a nuclear power plant, producing a nuclear weapon is much easier. And nuclear proliferation is only one reason the US / West globalists have been against nuclear power. A broader reason is that cheap power leads to a large prosperous middle class, which the globalists view as a threat to their ruling oligarchy. They'd much rather rule over a smaller population of serfs.

We'll see what happens, but since - a) Job #1 for the US / West globalists is to somehow derail BRICS, and b) a key attraction to joining BRICS is having China/Russia build nuclear plants for your country, a logical way to derail this is to poison the well for nuclear power generally. One way to do that would be to see a few nuclear plants blown up during a war or by a 'terrorist' group. This would demonstrate the extreme vulnerability of having a nuclear plant in your country, and the devastating effects if it is targeted by a neighboring country or group. Hopefully this doesn't happen, but it seems like a logical option for the US / West globalist ghouls as they become increasingly desperate to stop BRICS expansion.


>>> BRICS Nations Surge Ahead in Nuclear Energy Commitment


By ZeroHedge

Oct 19, 2023


https://infobrics.org/post/39640/


- China tops the list with plans for 24 new nuclear reactors, one of which will be connected this year.

- India aims to connect eight new nuclear power plants by 2027, with Turkey and South Korea also making notable commitments.

- Three future BRICS members—UAE, Egypt, and Argentina—are currently constructing new nuclear reactors.

In the mid-term, nuclear power plants are considered by some experts to be the most efficient transitional solution for achieving global climate goals. Criticism is though levelled at the largely unresolved question of final storage and potential safety risks.

As Statista's Martin Armstrong shows, using data from the World Nuclear Association, no country is currently committing more to a nuclear future than China.

The Asian superpower currently has 24 new nuclear reactors planned or being built, with one new power plant to be connected to the grid this year.

The United Arab Emirates and Turkey are also planning to connect one new power plant each, and in South Korea there are two more in the pipeline for this year.

In second place is India, which plans to have eight new nuclear power plants built and connected to the grid by 2027, followed by the aforementioned Turkey with four and South Korea with three reactors.

What is noteworthy here is that with China, India and Russia, three of the five BRICS members are among the top eight.

From January 1, 2024, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates will join as new members. In three of these six future member countries - the United Arab Emirates, Egypt and Argentina - new nuclear reactors are also currently under construction.

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Can Nuclear Power “Decarbonize” the Oil and Gas Industry?

https://oilprice.com/Energy/Crude-Oil/Can-Nuclear-Power-Decarbonize-the-Oil-and-Gas-Industry.html

By Felicity Bradstock - Mar 13, 2024, 4:00 PM CDT
Oil and gas companies are under pressure to reduce greenhouse gas emissions.
Using clean energy sources like nuclear power to run oil and gas operations can significantly reduce emissions.
Small modular reactors (SMRs) are being developed as a potential solution for providing clean energy to remote oil and gas facilities.

Governments and private companies worldwide have been exploring the idea of reducing emissions from oil operations by using nuclear energy. There is increasing pressure for oil and gas firms to reduce their greenhouse gas emissions to support a global green transition and reduce the effects of climate change on the environment, yet this can be extremely difficult to achieve. Much of the focus has been on retroactive carbon-capture operations, using carbon capture and storage (CCS) technology. Many environmentalists believe that the retroactive approach does not make a meaningful change and that fossil fuel companies must reduce their production rates, as well as decarbonise operations at the source. In response, companies worldwide are exploring the potential for nuclear energy to power operations to reduce the emissions created during production and processing activities.

While there is a plethora of environmental issues related to fossil fuel production, there is significant potential to reduce the greenhouse gas emissions associated with oil and gas operations. Oil and gas production, transport, and processing contribute around 15 percent of all energy-related greenhouse gas emissions worldwide. The use of oil and gas accounts for another 40 percent of emissions. While it is extremely difficult to reduce these emissions, using clean energy sources to power upstream oil and gas facilities could help companies decarbonise some of their activities.
At present, most companies rely on fossil fuels to power upstream operations, such as extracting gas and oil through drilling, pumping, and fracking. Many downstream operations, such as refining and processing, also use fossil fuels. Aline des Cloizeaux, the Director of the International Atomic Energy Agency’s (IAEA) Division of Nuclear Power, stated: “Most oil and gas operations burn fossil fuels to produce the energy needed for their upstream and downstream operations.” She added, “To drive down carbon emissions from these processes, ideally drilling, natural gas liquefaction and refining would be electrified with low carbon sources, such as nuclear.”

Related: Europe’s Secret Weapon In Its Energy War With Russia

Most oil and gas operations are conducted in remote locations, making it difficult to power activities using electricity from the grid. However, there is significant potential to use microreactors (MRs) or small modular reactors (SMRs) to deliver power to the site. While fossil fuel production will still create carbon emissions, the use of nuclear power to fuel operations can help significantly reduce operational emissions and prevent waste. While the MR and SMR industry is in its infancy, many governments and private companies are investing in the acceleration of this technology, with capacity expected to increase significantly by 2030.

One company is taking the next step in using nuclear power to fuel oil and gas operations by signing an agreement to develop the necessary technology. Viaro Energy and newcleo, a clean nuclear technology developer, have signed a memorandum of understanding (MoU) to forge a strategic partnership to decarbonise oil and gas infrastructure using nuclear technology. The MoU provides a strategy for decarbonising Viaro’s oil and gas operations with newcleo’s lead-cooled fast reactor (LFR) technology. Newcleo expects the equipment to be suitable for a range of locations as it is compact and easily transportable. The LFR will be powered using reprocessed spent fuel, produced from existing reactors, to reduce waste.

Stefano Buono, the Chairman and CEO of newcleo, stated: “This is an exciting partnership and demonstrates the potential for newcleo’s technology to support industrial decarbonisation. The transition to net-zero will only be achieved by decarbonising not only the energy, transport and heat sectors but also energy-intensive and ‘hard to abate’ heavy industries.”

Related: Forgotten Gas Reserves Could Be A Gamechanger For European Energy
“Our technology means that, for the first time, nuclear reactors will provide decentralised, baseload, low-carbon energy to customers with enhanced safety and security of supply. Viaro’s pragmatic and forward-looking approach will help them to blaze a trail towards lower-carbon operations in the oil and gas sector and we are delighted to be partnering with them and to provide energy solutions to make their aims a reality,” he added.

The use of the technology is expected to help decarbonise Viaro’s North Sea operations, where the company produces around 30,000 barrels of oil a year. The firm holds non-operated stakes at around 30 offshore assets in the U.K. and the Netherlands. Viajo also announced that it had invested in newcleo, although no more information was given. This year, London-based newcleo is aiming to become one of Europe’s highest-funded start-ups, seeking to raise $1.09 billion.

As the oil and gas industry looks to decarbonise operations in line with rising government pressure and higher consumer expectations, nuclear power could provide the answer. While most fossil fuel production takes place in remote locations, making it difficult to power using clean electricity from the grid, there is significant potential for the rollout of MRs and SMRs to power operations. Although the technology is in its infancy, greater investment in the technology by oil and gas firms could ensure they are some of the first companies to get access to innovative nuclear reactors as they are rolled out.

By Felicity Bradstock for Oilprice.com

>>> BWX Technologies Inc (BWXT) Reports Solid Revenue and EBITDA Growth in Q4 and Full Year 2023


GuruFocus Research

February 27, 2024


https://finance.yahoo.com/news/bwx-technologies-inc-bwxt-reports-215419496.html


Revenue: Q4 revenue rose 16% to $725.5 million, with full-year revenue up 12% to $2.5 billion.

Net Income: Q4 GAAP net income increased 54% to $66.3 million, while full-year net income saw a 3% rise to $246.3 million.

Earnings Per Share (EPS): Q4 diluted non-GAAP EPS was $1.01, with full-year diluted non-GAAP EPS at $3.02.

Adjusted EBITDA: Q4 adjusted EBITDA grew 13% to $147.6 million, with a full-year increase of 7% to $471.9 million.

Free Cash Flow: Significant growth in free cash flow, reaching $212.4 million for the year, a 358% increase.

2024 Guidance: BWXT projects Non-GAAP EPS between $3.05 and $3.20 and adjusted EBITDA of approximately $500 million for 2024.


On February 27, 2024, BWX Technologies Inc (NYSE:BWXT) released its 8-K filing, detailing the fourth quarter and full-year financial results for 2023. The company, a leading provider of nuclear components for government and commercial applications, reported a strong finish to the year with significant growth in revenue, net income, and adjusted EBITDA.

BWX Technologies operates primarily through two segments: Government Operations, which includes legacy Nuclear Operations Group and Nuclear Services Group, and Commercial Operations, which encompasses the legacy Nuclear Power Group. The company's operations span the United States, Canada, and the United Kingdom, with the majority of its business in the U.S. and a significant focus on Government Operations.

The company's performance in the fourth quarter was marked by a 16% increase in revenue to $725.5 million, driven by higher naval nuclear component production, long-lead materials procurement, microreactors, and special materials processing. Full-year revenue also saw a 12% increase to $2.5 billion, attributed to growth in both operating segments.

Adjusted EBITDA for the fourth quarter grew by 13% to $147.6 million, while the full-year figure rose by 7% to $471.9 million. This growth was supported by higher revenue and favorable contract adjustments, although partially offset by increased staffing levels and associated costs.

Net income for the fourth quarter increased by 54% to $66.3 million, and full-year net income rose by 3% to $246.3 million. The company also reported robust free cash flow for the year, which increased by a remarkable 358% to $212.4 million.

Looking ahead, BWXT has initiated guidance for 2024, projecting Non-GAAP EPS between $3.05 and $3.20 and adjusted EBITDA of approximately $500 million. This guidance reflects the company's positive outlook and the momentum carried over from 2023.

President and CEO Rex D. Geveden commented on the results, stating:

"We had a strong finish to 2023, with double-digit revenue and adjusted EBITDA growth and robust free cash flow in the fourth quarter, as expected. In 2023, we had record revenue and adjusted EBITDA and achieved many important objectives... Looking ahead, we expect the momentum from 2023 to carry into 2024 and more than offset the anticipated lull in aircraft carrier propulsion systems production, as other elements of our nuclear portfolio gather strength."

The company's financial achievements are particularly important in the Aerospace & Defense industry, where consistent revenue and EBITDA growth are critical indicators of a company's ability to invest in new technologies and maintain a competitive edge. BWXT's strong cash flow performance also underscores its financial health and ability to return value to shareholders.

As BWXT prepares for its Investor Day on February 28, 2024, the company's leadership remains optimistic about future prospects, citing favorable market trends, unique assets, and a highly skilled workforce as key drivers for continued success.

For more detailed financial information, including reconciliations of non-GAAP results, investors and interested parties are encouraged to review the full earnings release and additional materials available on the BWXT investor relations website.

BWX Technologies Inc (NYSE:BWXT) continues to leverage its expertise and strategic initiatives to position itself for sustainable growth in the dynamic Aerospace & Defense sector, making it a company to watch for value investors and industry stakeholders alike.

Explore the complete 8-K earnings release (here) from BWX Technologies Inc for further details.

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>>> BWX Technologies, Inc. (BWXT), together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations.

The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers. This segment also involved in manufacture of close-tolerance and equipment for nuclear applications; down blend government stockpiles of uranium; receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; and supplies research reactor fuel elements for colleges, universities, and national laboratories, as well as components for defense applications.

The Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, and reactor components; and other auxiliary equipment, including containers for the storage of nuclear fuel and other high-level nuclear waste. This segment also offers nuclear fuel, fuel handling systems, tooling delivery systems, nuclear grade materials, and precisely machined components, and related services for CANDU nuclear power plants; provides in-plant inspection, maintenance, and modification services, as well as non-destructive examination and tooling/repair solutions; and manufactures medical radioisotopes, radiopharmaceuticals, and medical devices.

The company was formerly known as The Babcock & Wilcox Company and changed its name to BWX Technologies, Inc. in June 2015. BWX Technologies, Inc. was founded in 1867 and is headquartered in Lynchburg, Virginia.

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https://finance.yahoo.com/quote/BWXT/profile


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>>> Uranium Firms Revive Forgotten Mines as Price of Nuclear Fuel Soars


Bloomberg

by Jacob Lorinc and Maria Clara Cobo

March 3, 2024


https://finance.yahoo.com/news/uranium-firms-revive-forgotten-mines-143000095.html


(Bloomberg) -- Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.

At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.

Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.

Now, with governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.

Uranium has been used as an energy source for more than six decades, fueling nuclear power plants and reactors. About two-thirds of global production comes from Kazakhstan, Canada and Australia.

Uranium will be a topic of conversation as thousands of mining executives, geologists and bankers descend on Toronto for the Prospectors & Developers Association of Canada gathering this week. The annual event has attracted at least 10 uranium firms, including Denison Mines Corp., Fission Uranium Corp. and IsoEnergy Ltd.

As countries increasingly consider nuclear power to address climate change, demand for uranium is expected to skyrocket. The International Atomic Energy Agency estimates the world will need more than 100,000 metric tons of uranium per year by 2040 — an amount that requires nearly doubling mining and processing from current levels.

Canada’s Cameco Corp. and Kazakhstan’s Kazatomprom, which together account for half of global supply, have struggled to ramp up production. They have warned of some operational setbacks that will result in less uranium output than expected in the coming years.

Read More: World’s Biggest Uranium Miner Warns of Production Shortfall

“We’re in an old-fashioned, plain-and-simple supply squeeze,” said Scott Melbye, executive vice president of Texas-based Uranium Energy Corp. “Demand is increasing again, with new reactors coming online.”

Production hasn’t kept pace due to years of underinvestment in mining and exploration, said Melbye, whose company is reopening mines in Wyoming and Texas that were idled in 2018.

Energy Fuels Inc. initiated plans late last year to restart operations in Arizona, Utah and Colorado, while Ur-Energy Inc. said it will dust off an idled mine in Wyoming. Mid-sized companies in Australia and Canada have announced similar plans.

To be sure, production from these mines — most of which are small and nearing the end of their lives — would comprise a small fraction of the world’s uranium supply.

“The industry is clearly trying to respond with smaller mines reopening, but when you have a mine that hasn’t operated for that long, it’s obviously not very substantive,” said John Ciampagli, Chief Executive Officer of Sprott Asset Management, which operates the Sprott Physical Uranium Trust.

Top Producers

Supply constraints should ease with top producers churning out the millions of pounds of uranium they left in the ground when prices were low. Kazatomprom has been increasing output after years of operating well below its capacity.

Cameco has been ramping up production at the world’s largest high-grade uranium mine and mill — MacArthur River and Key Lake in the western Canadian province of Saskatchewan — after idling operations between 2018 and 2021 due to weak market conditions.

The two firms “will be very concerned about losing their market share to a bunch of juniors, and so they’ll want to claim that back,” said Tom Price, a senior commodities analyst at London-based investment bank Libereum. “That will take a lot of heat out of the market.”

Still, US mine reopenings mark a revival for an American industry that was at risk of disappearing only five years ago. American uranium production hit an all-time low of 174,000 pounds in 2019 — a drop from its 44-million-pound peak in 1980 — as the US started increasing dependence on imports from countries like Canada, Australia, Kazakhstan and Russia.

Read More: The Long Arm of Russia and the Politics of Uranium

The US industry’s push is also political, with the government seeking to secure access to supply amid geopolitical uncertainty. Sanctions on Russia following its 2022 invasion of Ukraine have posed challenges for uranium shipments en route from Kazakhstan, since the former Soviet state’s exports typically pass through Russian ports.

To keep up with demand, the Uranium Producers of America forecasts the US will need eight to 10 new, major mines to start production over the next decade.

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>>> Border package contains $2 billion for uranium enrichment


The Hill

by Zack Budryk


https://www.msn.com/en-us/news/politics/border-package-contains-2-billion-for-uranium-enrichment/ar-BB1hP4E2?cvid=fad0ba4c2ad24de1815d441d89ccc17b&ei=19


The Senate’s border and Ukraine spending package contains more than $2 billion in funds for uranium processing, as the U.S. works to reduce global reliance on Russian energy exports.

The text of the bill, released Sunday night, includes $2.72 billion in unspent grant funding for domestic uranium enrichment, with the goal of bolstering nuclear fuel development. Another $98 million would go to domestic isolation and production of isotopes, a major Russian export. The package would also put $149 million toward the National Nuclear Security Administration to respond to the ongoing Russian invasion of Ukraine.

Russia is the sixth largest producer of uranium worldwide. The Biden administration has made attempts to isolate the country as an energy exporter, and it is working to reduce general foreign reliance within the renewable energy supply chain.

The bill is almost certainly doomed in the House, where Speaker Mike Johnson (R-La.) has said it will not pass, while former President Trump, the likely GOP 2024 nominee, has called on Republicans to oppose it.

Its path in the Senate is also unclear, as it’s not yet certain the bill could garner the 60 votes required to send it to the House. Not only have Republicans objected to its Ukraine provisions, some Democrats in the progressive wing have also expressed objections to the amount of aid it provides to Israel amid criticism of the country’s prosecution of the war in Gaza.

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>>> 22 countries want to triple nuclear power. Is there enough uranium to go around?


Yahoo Finance

by Ines Ferré

January 28, 2024


https://finance.yahoo.com/news/22-countries-want-to-triple-nuclear-power-is-there-enough-uranium-to-go-around-180010715.html


Uranium has been hot this year, industry experts say. The trouble is there may not be enough to go around.

The squeeze on the metal, found in rocks and seawater, intensified recently after 22 countries, including the US, recently signed a pact at the UN Climate Change conference to triple their nuclear power capacity by 2050.

"There’s no other way to meet those net-zero carbon goals other than nuclear energy," said Nicole Galloway Warland, managing director of Thor Energy (THORF), an exploration company with projects in Utah and Colorado.

The backdrop to all this is, of course, is the march towards cleaner energy. But the rise of EVs and the anticipated power demands of artificial intelligence computing are also going to create a demand crunch for clean electricity — and nuclear is seen as a power source, unlike oil or coal, without the downside of carbon dioxide emissions.

That means the demand for uranium, the underlying fuel for nuclear plants, will be on the rise for years to come, experts and miners contend.

"Where is that uranium going to come from?," asked Galloway Warland. "There’s not enough to go around. There’s a supply deficit."

Earlier this month, the world's largest uranium miner, Kazatomprom (KAP.IL), warned it will likely not meet its production targets in the next two years because of mine construction delays and a lack of sulfuric acid needed for uranium production. Uranium prices shot up to 2007 levels this month, sitting above $106 per pound.

Uranium-related stocks have also been on fire.

Shares of Canadian giant Cameco (CCJ) have gained 83% over the past year. Kazatomprom, which trades on the London stock exchange, is up more than 60% over the past six months. Shares of US-based Energy Fuels (UUUU) are up about 25% during the same period.

'Uranium is becoming a household name'

A psychological shift surrounding nuclear is clearly helping fuel the market frenzy.

Nuclear power has been out of favor for years. But the Fukushima, Japan, nuclear disaster in 2011 prompted governments to scale back plans and shut down reactors. For much of the last decade, little investment went into the industry. Climate change, however, has changed attitudes.

"Nuclear power now has been realized as the new, vogue way of providing all this baseline power," Duane Parnham, executive chairman and CEO of Madison Metals (GREN.CN), told Yahoo Finance.

"Uranium is becoming a household name," he added.

Silicon Valley celeb billionaires, for example, have talked up the benefits of nuclear energy. Last year Sam Altman, the chief executive behind ChatGPT, announced his special purpose acquisition company would take nuclear energy startup Oklo public. And, of course, Tesla (TSLA) CEO Elon Musk weighed in. He tweeted last year that "The world should increase use of nuclear power!"

In the United States, the shortage is complicated by the fact that much of our uranium is imported from Russia. That's prompted the Biden Administration to seek more supply internally, and from US-friendly states such as Canada, the second-largest producer.

"The US has extensive in-ground uranium resources and quite a bit of idled processing capacity. But we have let our industry and infrastructure atrophy over the past few decades, as nuclear utilities bought cheaper uranium from places like Russia and Kazakhstan," Curtis Moore, senior vice president of marketing at Energy Fuels, told Yahoo Finance.

Now the US is playing catch-up. New uranium mines can take five to 15 years from start to finish, including permits, says Thor Energy's Galloway Warland.

"All of a sudden you’ve got no exploration, you’ve got a lot of old mines coming to the end of their life, you've got geopolitical tensions," said Galloway Warland. "We need to have more exploration, we need more mines coming online."

The Inflation Reduction Act (IRA) passed last year includes a tax credit to help preserve the existing fleet of nuclear plants and tax incentives for advanced reactors. But the IRA also earmarked $700 million to support the development of a domestic supply chain for high-assay low-enriched uranium, commonly referred to as HALEU. The funding is intended to help eliminate US dependence on Russia for nuclear fuel supply.

As for investors, the question is always whether a spike in demand is a big yellow caution flag.

Said Curtis of Energy Fuels: "Prices have skyrocketed, but we don’t think it is a bubble, as the price increases are based on real market fundamentals." He added, "We are likely in the beginning of a multiyear period of elevated uranium prices that will persist for several years until large mines around the world can get into production."

However, some industry watchers are more cautious.

"We’re in a little bit in a bubble in the sense that making this commitment to build this capacity is not realistic. It’s aspirational, but not everybody who signs up to this agreement is well situated to make this happen," said Irina Tsukerman, president of market research and geopolitical risk advisory Scarab Rising.

"It’s possible that there could be disruptions to this process of nuclearization in the future. All it takes is one government changing its position and pulling out, and that’s it," she said.

Bubble or no bubble, the US and other countries are going full force into nuclear. Uranium is expected to stay in high demand, at least until supply catches up.

"We’ve got 60 reactors being built around the world. A hundred more being permitted," Dave Nadig, VettaFi financial futurist, recently told Yahoo Finance. "It’s really going to be a boom era."

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>>> TEPCO's operational ban is lifted, putting it one step closer to restarting reactors in Niigata


Associated Press

by MARI YAMAGUCHI

12-27-23


https://www.msn.com/en-us/news/world/tepco-s-operational-ban-is-lifted-putting-it-one-step-closer-to-restarting-reactors-in-niigata/ar-AA1m5dNP?OCID=ansmsnnews11


TOKYO (AP) — Japanese nuclear safety regulators lifted an operational ban Wednesday imposed on a nuclear plant owned by Tokyo Electric Power Company Holdings, the operator behind the Fukushima plant that ended in disaster, allowing the company to resume preparations for restarting the Kashiwazaki-Kariwa plant after more than 10 years.

At its weekly meeting, the Nuclear Regulation Authority formally lifted the more than two-year ban imposed on the TEPCO's Kashiwazaki-Kariwa plant over its lax safety measures at the site, saying a series of inspections and meetings with company officials has shown sufficient improvement. The decision removes an order that prohibited TEPCO from transporting new fuel into the plant or placing it into reactors, a necessary step for restarting Kashiwazaki-Kariwa's reactors.

The plant on Japan's northern coast of Niigata is TEPCO's only workable nuclear power plant since the March 2011 earthquake and tsunami destroyed its Fukushima Daiichi plant and caused Fukushima Daini plant to cease operations. For the company now burdened with the growing cost of decommissioning the Fukushima Daiichi plant and compensating disaster-hit residents, restarting the Kashiwazaki-Kariwa reactors soon is key to stabilizing its business.

TEPCO President Tomoaki Kobayakawa told reporters Wednesday that it was too early to comment on the prospect for the restart. He said the company will provide its safety and security measures to gain understanding from the local residents, who must approve a restart.

The NRA slapped an unprecedented ban on the operator in April 2021 after revelations of a series of sloppy anti-terrorism measures at TEPCO's Kashiwazaki-Kariwa plant, the world's largest nuclear power complex housing seven reactors.

The Kashiwazaki-Kariwa plant was partially damaged in a 2007 earthquake, causing safety concerns and distrust among local municipalities. The March 2011 disaster caused stoppages of all 54 reactors Japan used to have before the Fukushima disaster, and prompted utility operators to shut many of them down due to additional safety costs, bringing the number of usable reactors to 33 today. Twelve reactors have been restarted under tougher safety standards, and the government wants to bring more than 20 others back online — a goal widely considered overly ambitious.

TEPCO was making final preparations to restart the Kashiwazaki-Kariwa plant’s No. 6 and No. 7 reactors after regulators granted safety approvals for them in 2017. But in 2021, regulators gave the plant’s nuclear security a “red” rating, the lowest given to any operator, resulting in the operational ban.

The case raised questions about whether TEPCO learned any lessons from the 2011 Fukushima crisis, which was largely attributed to the utility’s lack of concern about safety.

NRA Chair Shinsuke Yamanaka told Wednesday’s meeting that the lifting of the restrictions is just the beginning, and TEPCO is still required to keep improving its safety precautions.

“TEPCO is a unique company; in a way it had caused the accident," Yamanaka said. “It is the operator's responsibility to keep improving, and our task is to watch if improvement is adequately carried out." He said he hoped TEPCO will be an open and transparent company capable of sufficient communication across the workplace, while also accomplishing Fukushima Daiichi's cleanup.

Before TEPCO can restart the reactors, it needs the consent of nearby residents. Prior to the NRA decision Wednesday, Niigata Gov. Hideyo Hanazumi told reporters that the will of the voters he represents must be taken into consideration.

The Japanese government recently began a push to restart as many reactors as possible to maximize nuclear energy and meet decarbonization targets. Prime Minister Fumio Kishida’s government has reversed Japan’s nuclear energy phaseout plan, instead looking to use atomic power as key energy supply accounting to more than one-fifth of the country’s energy supply.

A restart of Kashiwazaki-Kariwa plant, along with attempts by other utility operators to resume their reactors, would “contribute to Japan's stable energy supply and its pursuit of carbon neutrality,” especially when the energy-scarce country is hit by rising energy costs amid Russia's war on Ukraine, Kobayakawa said. “Of course, safety is the prerequisite.”

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>>> At COP28, Countries Launch Declaration to Triple Nuclear Energy Capacity by 2050, Recognizing the Key Role of Nuclear Energy in Reaching Net Zero


Energy.gov

DECEMBER 1, 2023


https://www.energy.gov/articles/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key


At COP28, Countries Launch Declaration to Triple Nuclear Energy Capacity by 2050, Recognizing the Key Role of Nuclear Energy in Reaching Net Zero

Declaration Recognizes the Key Role of Nuclear Energy in Keeping Within Reach the Goal of Limiting Temperature Rise to 1.5 Degrees Celsius


DUBAI, UNITED ARAB EMIRATES — During the World Climate Action Summit of the 28th Conference of the Parties to the U.N. Framework Convention on Climate Change today, more than 20 countries from four continents launched the Declaration to Triple Nuclear Energy. The Declaration recognizes the key role of nuclear energy in achieving global net-zero greenhouse gas emissions by 2050 and keeping the 1.5-degree goal within reach. Core elements of the declaration include working together to advance a goal of tripling nuclear energy capacity globally by 2050 and inviting shareholders of international financial institutions to encourage the inclusion of nuclear energy in energy lending policies. Endorsing countries include the United States, Bulgaria, Canada, Czech Republic, Finland, France, Ghana, Hungary, Japan, Republic of Korea, Moldova, Mongolia, Morocco, Netherlands, Poland, Romania, Slovakia, Slovenia, Sweden, Ukraine, United Arab Emirates, and United Kingdom. The full text of the Declaration is below.


Declaration to Triple Nuclear Energy

02 December 2023

Recognizing the key role of nuclear energy in achieving global net-zero greenhouse gas emissions / carbon neutrality by or around mid-century and in keeping a 1.5°C limit on temperature rise within reach and achieving Sustainable Development Goal 7;

Recognizing the importance of the applications of nuclear science and technology that contribute to monitoring climate change and tackling its impacts, and emphasizing the work of the International Atomic Energy Agency (IAEA) in this regard;

Recognizing that nuclear energy is already the second-largest source of clean dispatchable baseload power, with benefits for energy security;

Recognizing that analyses from the OECD Nuclear Energy Agency and World Nuclear Association show that global installed nuclear energy capacity must triple by 2050 in order to reach global net-zero emissions by the same year;

Recognizing that analysis from the Intergovernmental Panel on Climate Change shows nuclear energy approximately tripling its global installed electrical capacity from 2020 to 2050 in the average 1.5°C scenario;

Recognizing that analysis from the International Energy Agency shows nuclear power more than doubling from 2020 to 2050 in global net-zero emissions by 2050 scenarios and shows that decreasing nuclear power would make reaching net zero more difficult and costly;

Recognizing that new nuclear technologies could occupy a small land footprint and can be sited where needed, partner well with renewable energy sources, and have additional flexibilities that support decarbonization beyond the power sector, including hard-to-abate industrial sectors;

Recognizing the IAEA’s activities in supporting its Member States, upon request, to include nuclear power in their national energy planning in a sustainable way that adheres to the highest standards of safety, security, and safeguards and its “Atoms4NetZero” initiative as an opportunity for stakeholders to exchange expertise;

Recognizing the importance of financing for the additional nuclear power capacity needed to keep a 1.5°C limit on temperature rise within reach;

Recognizing the need for high-level political engagement to spur further action on nuclear power;

The Participants in this pledge:

Commit to work together to advance a global aspirational goal of tripling nuclear energy capacity from 2020 by 2050, recognizing the different domestic circumstances of each Participant;

Commit to take domestic actions to ensure nuclear power plants are operated responsibly and in line with the highest standards of safety, sustainability, security, and non-proliferation, and that fuel waste is responsibly managed for the long term;

Commit to mobilize investments in nuclear power, including through innovative financing mechanisms;

Invite shareholders of the World Bank, international financial institutions, and regional development banks to encourage the inclusion of nuclear energy in their organizations’ energy lending policies as needed, and to actively support nuclear power when they have such a mandate, and encourage regional bodies that have the mandate to do so to consider providing financial support to nuclear energy;

Commit to supporting the development and construction of nuclear reactors, such as small modular and other advanced reactors for power generation as well as wider industrial applications for decarbonization, such as for hydrogen or synthetic fuels production;

Recognize the importance of promoting resilient supply chains, including of fuel, for safe and secure technologies used by nuclear power plants over their full life cycles;

Recognize the importance, where technically feasible and economically efficient, of extending the lifetimes of nuclear power plants that operate in line with the highest standards of safety, sustainability, security, and non-proliferation, as appropriate;

Commit to supporting responsible nations looking to explore new civil nuclear deployment under the highest standards of safety, sustainability, security, and non-proliferation;

Welcome and encourage complementary commitments from the private sector, non-governmental organizations, development banks, and financial institutions;

Resolve to review progress towards these commitments on an annual basis on the margins of the COP;

Call on other countries to join this declaration.

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>>> COP28: UAE signs deal with Bill Gates' nuclear company on advanced reactors


Reuters

12-4-23


https://www.msn.com/en-us/money/companies/cop28-uae-signs-deal-with-bill-gates-nuclear-company-on-advanced-reactors/ar-AA1kXizO?OCID=ansmsnnews11


DUBAI (Reuters) - Bill Gates' advanced nuclear reactor company TerraPower LLC and the United Arab Emirates’ state owned nuclear company ENEC said on Monday they have agreed to study the potential development of advanced reactors in the UAE and abroad.

The memorandum of understanding comes amid a push by the UAE to expand its nuclear energy capacity, and a pledge by over 20 nations at the COP28 climate conference in Dubai to triple nuclear deployment this decade to fight climate change.

“For the UAE, we're looking for a future for the clean electrons and molecules that will be brought to reality by advanced reactors,” said Mohamed Al Hammadi, CEO of ENEC, during the signing ceremony.

"Bringing advanced nuclear technologies to market is critical to meeting global decarbonization targets," said TerraPower President and CEO Chris Levesque.

The UAE currently has one traditional nuclear power plant, near Abu Dhabi, which began producing electricity in 2020. TerraPower, meanwhile, has a demonstration project underway for its advanced Natrium reactor in the U.S. state of Wyoming that hopes to come online in 2030.

Advanced reactors are meant to be smaller, easier to build, and more dynamic than traditional plants, and are regarded by some as vital complement to intermittent power sources like wind and solar that are expanding rapidly.

The MOU between TerraPower and the UAE said they would explore uses for advanced nuclear reactors such storing power on the grid and providing the energy needed to produce hydrogen, and decarbonize coal, steel and aluminum plants.

One potential hitch, however, is that TerraPower's Natrium reactors require a fuel called high assay low enriched uranium or HALEU, the main producer of which currently is Russia.

TerraPower's Wyoming project has experienced delays over concerns about HALEU supply since the Russian invasion of Ukraine, but the company told Reuters it expects the United States to be able to produce the fuel in the coming decade.

The United States is seeking to start up HALEU production domestically and has contracted with a company called Centrus to develop a project to do so.

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>>> Centrus Reports Third Quarter 2023 Results


PR Newswire

November 7, 2023


https://finance.yahoo.com/news/centrus-reports-third-quarter-2023-221500136.html


Began production of High-Assay Low-Enriched Uranium (HALEU) in October 2023 and Completed Phase I of Department of Energy contract in November 2023.

Annuitized $186.5 million of pension plan obligations for 1,400 beneficiaries, de-risking balance sheet and improving the capital structure

Net income of $8.2 million on $51.3 million in revenue, compared to net loss of $6.1 million on $33.2 million in revenue in Q3 2022

Consolidated cash balance of $183.3 million as of September 30, 2023


BETHESDA, Md., Nov. 7, 2023 /PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU) ("Centrus" or the "Company") today reported third quarter 2023 results. The Company reported net income of $8.2 million for the three months ended September 30, 2023, compared to a net loss of $6.1 million for the three months ended September 30, 2022. The net income per common share in the three months ended September 30, 2023 was $0.53 (basic) and $0.52 (diluted).

"Centrus made history on October 11, inaugurating the first new U.S.-technology, U.S.-owned uranium enrichment plant to begin production since 1954," said Centrus President and CEO Daniel B. Poneman. "Our team completed this work under budget and ahead of schedule, proving once again our ability to execute on complex, mission-critical projects. As we pursue our goal of expanding the plant to meet the full range of commercial and national security requirements for enriched uranium, we are heartened by the growing momentum in Congress and the Administration to support a major federal investment in restoring America's domestic enrichment capacity. Centrus stands ready to do our part to help reclaim America's global leadership in nuclear fuel production."

The quarter also demonstrated Centrus' critical role in the supply chain to deploy advanced nuclear reactors through the Memoranda of Understanding concluded with TerraPower and Oklo.

Our financial results vary from quarter to quarter based on the timing of contracted deliveries and the specific contract terms. The majority of our LEU contracts are multi-year arrangements in which customers have annual purchase obligations, but can choose in which quarter to take delivery. We record the revenue and cost of sales in the quarter when deliveries are made, which can vary throughout the year, but tends to even out on an annual basis.

Financial Results

Centrus generated total revenue of $51.3 million and $33.2 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $18.1 million.

Revenue from the LEU segment was $40.5 million and $20.2 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $20.3 million. The increase was due to the $32.8 million increase in SWU revenue, partially offset by the $12.5 million decrease in uranium revenue for the three months ended September 30, 2023. The increase in SWU revenue was due to an increase in the volume of SWU sold and an increase in the average price of SWU sold.

Revenue from the Technical Solutions segment was $10.8 million and $13.0 million for the three months ended September 30, 2023 and 2022, respectively, a decrease of $2.2 million. The decrease was primarily related to the transition from the HALEU Demonstration Contract to the HALEU Operation Contract in late 2022. For the three months ended September 30, 2023, the HALEU Operation Contract generated $8.9 million in revenue. The HALEU Demonstration Contract generated $1.3 million in revenue for the three months ended September 30, 2023, compared to $11.7 million in revenue for the same period in 2022.

Cost of sales for the LEU segment was $30.4 million and $18.9 million for the three months ended September 30, 2023 and 2022, respectively, an increase of $11.5 million. The increase was due to a $23.9 million increase in SWU costs, partially offset by a $12.4 million decrease in uranium costs. The increase in SWU costs reflected an increase in the volume of SWU sold and an increase in the average unit cost of SWU sold. Cost of sales for the three months ended September 30, 2023 included $0.6 million for the revaluation of inventory loans.

Cost of sales for the Technical Solutions segment was $9.6 million and $12.0 million for the three months ended September 30, 2023 and 2022, respectively, a decrease of $2.4 million. The decrease was related to a decrease of $10.8 million of costs associated with the HALEU Demonstration Contract signed in 2019 and a decrease in costs of approximately $1.0 million associated with other contracts, partially offset by $9.4 million of costs incurred for the HALEU Operation Contract signed in 2022.

Gross profit for the Company was $11.3 million and $2.3 million for the three months ended September 30, 2023 and 2022, respectively. The increase for the three months ended September 30, 2023 was due primarily to the specific contract and pricing mix of SWU contracts and the timing of their deliveries quarter over quarter. This was reflected by an increase in the volume of SWU sold and an increase in the average profit margin per SWU.

HALEU Update

On September 6, 2023, the Company announced that it was conducting final system tests and other preparations so that production of HALEU could commence at our American Centrifuge Plant in Piketon, Ohio. On September 21, 2023, the Nuclear Regulatory Commission granted final approval for the Company to produce the quantity of HALEU required by Phase 1 of the contract. On October 11, 2023, the Company announced the beginning of enrichment operations. On November 6, 2023, the Company completed production of the initial 20 kilograms of HALEU UF6 under Phase 1 of the HALEU Operation Contract. In Phase 2 of the contract that has a cost-plus-incentive-fee structure, Centrus is required to produce 900 kilograms of HALEU UF6. The Department of Energy takes delivery of the HALEU on site in Piketon and is obligated to provide the HALEU storage cylinders to collect the HALEU from the cascade; Centrus has constructed a storage facility where the HALEU will be kept until it is needed.

TerraPower and Oklo Memoranda of Understanding

In July and August, 2023, the Company signed memoranda of understanding with TerraPower and Oklo, respectively, to support the deployment of additional HALEU production capacity in Piketon, Ohio subject to negotiating definitive agreements. Centrus and TerraPower will collaborate to ensure that TerraPower's Natrium demonstration reactor has access to HALEU at the milestones necessary to meet the TerraPower project's 2030 operation date. Centrus and Oklo will collaborate on activities including Oklo's purchase of HALEU and manufactured components from Centrus, and Centrus' purchase of electricity from Oklo's planned Aurora powerhouses in Piketon, Ohio.

Pension Annuitization

On October 12, 2023, the Company entered into an agreement to purchase a group annuity contract for one of its pension plans and transfer approximately $186.5 million of its pension plan obligations, or 41% of its obligations for the plan, based on the December 31, 2022 valuation, to an insurer. The purchase of the group annuity contract was funded directly by the assets of the pension plan of approximately $171.4 million. The purchase resulted in a transfer of administrative and benefit paying responsibilities for approximately 1,400 beneficiaries to the insurer. Centrus believes this move will de-risk its balance sheet by reducing its risk for current and future liabilities at no detriment to pensioners. The Company estimates that the income related to the pension settlement recognized in the fourth quarter will be approximately $15.1 million, dependent upon the completion and final pricing of the annuity transaction The settlement charge will be recognized in nonoperating components of net periodic benefit loss (income) in our consolidated statements of operations.

About Centrus Energy Corp.

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.

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>>> Centrus Makes First HALEU Delivery to U.S. Department of Energy


PR Newswire

November 7, 2023


https://finance.yahoo.com/news/centrus-makes-first-haleu-delivery-113000606.html


BETHESDA, Md., Nov. 7, 2023 /PRNewswire/ -- Today, Centrus Energy Corp. announced that it has made its first delivery of High-Assay, Low-Enriched Uranium (HALEU) to the U.S. Department of Energy, completing Phase One of its contract with the Department by successfully demonstrating its HALEU production process. Centrus will now move on to Phase Two of the contract – requiring a full year of HALEU production at the rate of 900 kilograms per year at its American Centrifuge Plant in Piketon, Ohio.

"Centrus is proud to be pioneering American HALEU production, with our first delivery of the fuel that is urgently needed to support the demonstration and commercialization of advanced reactors," said Centrus President and CEO Daniel B. Poneman. "This critical milestone is essential to meeting the Department's near-term HALEU needs, while laying the groundwork for the full restoration of America's lost domestic uranium enrichment capacity. We are committed to working with the Department and industry to build a public-private partnership so that we can scale up production in the coming years to meet the full range of commercial and national security requirements for enriched uranium."

"Our HALEU team has worked exceptionally hard to complete this project ahead of schedule and under budget – showing we can execute on big, complicated projects and deliver value to our customers," said Centrus Senior Vice President of Operations Larry Cutlip. "We are grateful to have had the opportunity to demonstrate and expand our capabilities and expertise over the course of this work and look forward to embarking on the next phase of this important effort."

Under a competitively awarded, cost-share contract signed with the U.S. Department of Energy in 2022, Centrus was required to begin production of HALEU by the end of this year. Centrus began enrichment operations in October – two months ahead of schedule. By completing delivery of more than 20 kilograms of HALEU to the Department, Centrus has finished Phase One of the contract. The Department takes delivery of the HALEU on site in Piketon and is obligated to provide the HALEU storage cylinders to collect the HALEU from the cascade; Centrus has constructed a storage facility where the HALEU will be kept until it is needed.

Phase One included a 50 percent cost share requirement for Centrus, with the company and the Department each contributing about $30 million of the $60 million overall cost. In Phase Two of the contract, the Department will pay Centrus on a cost-plus incentive fee basis for the HALEU the company produces.

HALEU is an advanced nuclear fuel required for most of the next-generation reactor designs currently under development. The capacity of the 16-centrifuge cascade is modest – about 900 kilograms of HALEU per year – but with sufficient funding and offtake commitments, Centrus could significantly expand production. A full-scale HALEU cascade, consisting of 120 centrifuge machines, with a combined capacity to produce approximately 6,000 kilograms of HALEU per year (6 MTU/year), could be producing HALEU within 42 months after securing the necessary funding. With appropriate support, Centrus could add a second HALEU cascade six months later and subsequent cascades every two months after that. That would mobilize hundreds of union workers in Ohio to build and operate the plant, while supporting thousands of direct and indirect jobs across a nationwide manufacturing supply chain. The Piketon facility has ample space for the thousands of machines that will be needed to meet the growing demand for enriched uranium in the decades to come.

About Centrus Energy

Centrus Energy is a trusted supplier of nuclear fuel and services for the nuclear power industry. Centrus provides value to its utility customers through the reliability and diversity of its supply sources – helping them meet the growing need for clean, affordable, carbon-free electricity. Since 1998, the Company has provided its utility customers with more than 1,750 reactor years of fuel, which is equivalent to 7 billion tons of coal. With world-class technical and engineering capabilities, Centrus is also advancing the next generation of centrifuge technologies so that America can restore its domestic uranium enrichment capability in the future.

<<<



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Sorry to see you leaving, but I guess spending more time with your girlfriend is a great alternative :o) Hopefully you will return to posting here on I-Hub, at least occasionally. As the ancient saying goes -- 'Everything in Moderation' :o) I will miss you.

Here's hoping the world situation improves. Things go in cycles, as the song says - 'There is a season and a time for every purpose' -

Gfp, I am alive, but leaving stock boards. Computer broke down and I don't miss it all much, and girl friend moving in with me and not so much free time. The whole world so messed up, nothing is safe in investing, IMO, maybe paper money, from a while any way. You are a goodman, been nice posting with you.

>>> An Iranian nuclear facility is so deep underground that US airstrikes likely couldn’t reach it


Associated Press

BY JON GAMBRELL

May 22, 2023


https://apnews.com/article/iran-nuclear-natanz-uranium-enrichment-underground-project-04dae673fc937af04e62b65dd78db2e0


DUBAI, United Arab Emirates (AP) — Near a peak of the Zagros Mountains in central Iran, workers are building a nuclear facility so deep in the earth that it is likely beyond the range of a last-ditch U.S. weapon designed to destroy such sites, according to experts and satellite imagery analyzed by The Associated Press.

The photos and videos from Planet Labs PBC show Iran has been digging tunnels in the mountain near the Natanz nuclear site, which has come under repeated sabotage attacks amid Tehran’s standoff with the West over its atomic program.

With Iran now producing uranium close to weapons-grade levels after the collapse of its nuclear deal with world powers, the installation complicates the West’s efforts to halt Tehran from potentially developing an atomic bomb as diplomacy over its nuclear program remains stalled.

Completion of such a facility “would be a nightmare scenario that risks igniting a new escalatory spiral,” warned Kelsey Davenport, the director of nonproliferation policy at the Washington-based Arms Control Association. “Given how close Iran is to a bomb, it has very little room to ratchet up its program without tripping U.S. and Israeli red lines. So at this point, any further escalation increases the risk of conflict.”

The construction at the Natanz site comes five years after then-President Donald Trump unilaterally withdrew America from the nuclear accord. Trump argued the deal did not address Tehran’s ballistic missile program, nor its support of militias across the wider Middle East.

But what it did do was strictly limit Iran’s enrichment of uranium to 3.67% purity, powerful enough only to power civilian power stations, and keep its stockpile to just some 300 kilograms (660 pounds).

Since the demise of the nuclear accord, Iran has said it is enriching uranium up to 60%, though inspectors recently discovered the country had produced uranium particles that were 83.7% pure. That is just a short step from reaching the 90% threshold of weapons-grade uranium.

As of February, international inspectors estimated Iran’s stockpile was over 10 times what it was under the Obama-era deal, with enough enriched uranium to allow Tehran to make “several” nuclear bombs, according to the head of the International Atomic Energy Agency.

President Joe Biden and Israel’s prime minister have said they won’t allow Iran to build a nuclear weapon. “We believe diplomacy is the best way to achieve that goal, but the president has also been clear that we have not removed any option from the table,” the White House said in a statement to the AP.

The Islamic Republic denies it is seeking nuclear weapons, though officials in Tehran now openly discuss their ability to pursue one.

Iran’s mission to the United Nations, in response to questions from the AP regarding the construction, said that “Iran’s peaceful nuclear activities are transparent and under the International Atomic Energy Agency safeguards.” However, Iran has been limiting access for international inspectors for years.

Iran says the new construction will replace an above-ground centrifuge manufacturing center at Natanz struck by an explosion and fire in July 2020. Tehran blamed the incident on Israel, long suspected of running sabotage campaigns against its program.

Tehran has not acknowledged any other plans for the facility, though it would have to declare the site to the IAEA if they planned to introduce uranium into it. The Vienna-based IAEA did not respond to questions about the new underground facility.

The new project is being constructed next to Natanz, about 225 kilometers (140 miles) south of Tehran. Natanz has been a point of international concern since its existence became known two decades ago.

Protected by anti-aircraft batteries, fencing and Iran’s paramilitary Revolutionary Guard, the facility sprawls across 2.7 square kilometers (1 square mile) in the country’s arid Central Plateau.

Satellite photos taken in April by Planet Labs PBC and analyzed by the AP show Iran burrowing into the Kuh-e Kolang Gaz La, or “Pickaxe Mountain,” which is just beyond Natanz’s southern fencing.

A different set of images analyzed by the James Martin Center for Nonproliferation Studies reveals that four entrances have been dug into the mountainside, two to the east and another two to the west. Each is 6 meters (20 feet) wide and 8 meters (26 feet) tall.

The scale of the work can be measured in large dirt mounds, two to the west and one to the east. Based on the size of the spoil piles and other satellite data, experts at the center told AP that Iran is likely building a facility at a depth of between 80 meters (260 feet) and 100 meters (328 feet). The center’s analysis, which it provided exclusively to AP, is the first to estimate the tunnel system’s depth based on satellite imagery.

The Institute for Science and International Security, a Washington-based nonprofit long focused on Iran’s nuclear program, suggested last year the tunnels could go even deeper.

Experts say the size of the construction project indicates Iran likely would be able to use the underground facility to enrich uranium as well — not just to build centrifuges. Those tube-shaped centrifuges, arranged in large cascades of dozens of machines, rapidly spin uranium gas to enrich it. Additional cascades spinning would allow Iran to quickly enrich uranium under the mountain’s protection.

“So the depth of the facility is a concern because it would be much harder for us. It would be much harder to destroy using conventional weapons, such as like a typical bunker buster bomb,” said Steven De La Fuente, a research associate at the center who led the analysis of the tunnel work.

The new Natanz facility is likely to be even deeper underground than Iran’s Fordo facility, another enrichment site that was exposed in 2009 by U.S. and other world leaders. That facility sparked fears in the West that Iran was hardening its program from airstrikes.

Such underground facilities led the U.S. to create the GBU-57 bomb, which can plow through at least 60 meters (200 feet) of earth before detonating, according to the American military. U.S. officials reportedly have discussed using two such bombs in succession to ensure a site is destroyed. It is not clear that such a one-two punch would damage a facility as deep as the one at Natanz.

With such bombs potentially off the table, the U.S. and its allies are left with fewer options to target the site. If diplomacy fails, sabotage attacks may resume.

Already, Natanz has been targeted by the Stuxnet virus, believed to be an Israeli and American creation, which destroyed Iranian centrifuges. Israel also is believed to have killed scientists involved in the program, struck facilities with bomb-carrying drones and launched other attacks. Israel’s government declined to comment.

Experts say such disruptive actions may push Tehran even closer to the bomb — and put its program even deeper into the mountain where airstrikes, further sabotage and spies may not be able to reach it.

“Sabotage may roll back Iran’s nuclear program in the short-term, but it is not a viable, long-term strategy for guarding against a nuclear-armed Iran,” said Davenport, the nonproliferation expert. “Driving Iran’s nuclear program further underground increases the proliferation risk.”

<<<



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>>> Centrus Energy Corp. (LEU) supplies nuclear fuel and services for the nuclear power industry in the United States, Japan, Belgium, and internationally. The company operates through two segments, Low-Enriched Uranium (LEU) and Technical Solutions. The LEU segment sells separative work units (SWU) component of LEU; SWU and natural uranium components of LEU; and natural uranium for utilities that operate nuclear power plants. The Technical Solutions segment offers technical, manufacturing, engineering, procurement, construction, and operations services to public and private sector customers, including the American Centrifuge engineering and testing activities. The company was formerly known as USEC Inc. and changed its name to Centrus Energy Corp. in September 2014. Centrus Energy Corp. was incorporated in 1998 and is headquartered in Bethesda, Maryland.

<<<



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>> reasons stocks will go up? >>

On the plus side, the Fed is almost done tightening, inflation has come down a lot, and the economy has been resilient. And near term, I think the Fed has been trying to prop up the market to offset the bearish effects from the Israel-Hamas war. It appears the PPT / Plunge Protection Team stepped in, and several Fed Governors issued dovish guidance, so an attempt to prevent a selloff due to the war.

On the negative side, there are lots of reasons to stay out of the market and collect the easy 5% in cash / T-Bills. Tough to say, but probably not a time to stick one's neck out too far. Fwiw, I'm sitting at 18% for the stock allocation, so fairly low, and also decided to put it exclusively in the S+P 500 instead of individual stocks / sector ETFs. The long term goal will be to maintain a 20% stock allocation, but still a 'work in progress'. It sure seems like a tough time to be an investor, but at least cash and bonds are now paying a good % rate, so less reason to be in stocks.




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What reason is there that stocks will go up? The fact that is has not gone down with all the bad news is suspicious. IMO the powers that be are convincing the sheeple to not worry about a crash? Most moving averages are at some kind of support line, either flat or rising bottom. They don't want a crash too close to the cheatlection, so watch out soon?

https://finviz.com/futures_charts.ashx?t=ER2&p=w

URA made a triple top?

https://stockcharts.com/h-sc/ui?s=URA&p=D&yr=5&mn=0&dy=0&id=p47054114064

Fwiw, I decided to exit my nuke positions (LEU, URA, URNM, NLR). They were only tiny amounts, but I just don't have a good feel for this sector. Hopefully nuclear power continues its apparent turnaround, but it isn't too hard to imagine seeing Iran's nuclear plants targeted for destruction by US / Israel in the not too distant future. That would be a major setback for nuclear power, seeing how vulnerable these plants are to attack, and how big parts of a country can be made radioactive ala Chernobyl. Anyway, too many unknowns and landmines in this sector imo.



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>> big oil be behind an accident or 2 <<

Looking at who would benefit, derailing nuclear power would mainly benefit the US/West globalists They already don't like nuclear, and even more now since nuclear is such a big part of the appeal of joining BRICS. One way to derail BRICS expansion would be to remove nuclear power as an option for these emerging countries. So if desperate enough, the globalist ghouls would deliberately blow up a nuclear plant or two to 'poison the well' for nuclear power generally.

For example, they stage an event where a 'terrorist' group destroys a nuclear plant in an emerging country, thus demonstrating the extreme vulnerability of having nuclear in your country, and the devastating effects if a country's enemies decide to target their shiny new nuke plant. This would instantly reverse the appeal of nuclear power, and thus remove a key motivation for joining BRICS. For emerging countries, nuclear power is extremely attractive and has tons of advantages, but not if the plant can be easily blown up by your regional rivals or domestic enemies. A chunk of your country ends up like Chernobyl -- irradiated and uninhabitable for 1000 years, So these emerging countries decide to forget it, and stick with natural gas, solar, anything but nuclear.

Anyway, this is one possible NWO strategy for not only derailing BRICS expansion, but also for preventing nuclear proliferation. Another broad goal is to prevent emerging countries from modernizing too much, thus keeping them weak and easily exploitable. The globalists mainly are interested in controlling the mineral riches found in these emerging countries, and want the country to have enough infrastructure to facilitate mining operations, etc, but not enough to improve conditions for the general population, which otherwise makes the country too uppity and independent.

Author John Perkins explains the process in his famous book 'Confessions of an Economic Hitman' (link below). The globalists first get the emerging country into serious debt trouble via IMF loans, and then offer debt relief in exchange for control of the country's mineral riches. For decades this IMF con job was the only game in town, but then China entered the picture with far better terms / outcomes for these emerging countries. Hence the wide appeal for joining BRICS -

https://en.wikipedia.org/wiki/John_Perkins_(author)



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I wouldn't be surprised to see big oil be behind an accident or 2. We' never know though. But that though has to be a concern to nuclear investors.

>>> South Carolina nuclear plant gets yellow warning over another cracked emergency fuel pipe


10-9-23

Associated Press

https://www.msn.com/en-us/news/us/south-carolina-nuclear-plant-gets-yellow-warning-over-another-cracked-emergency-fuel-pipe/ar-AA1hW8fE?OCID=ansmsnnews11


JENKINSVILLE, S.C. (AP) — Federal officials have issued a warning about a substantial safety violation at a South Carolina nuclear plant after cracks were discovered again in a backup emergency fuel line.

Small cracks have been found a half-dozen times in the past 20 years in pipes that carry fuel to emergency generators that provide cooling water for a reactor if electricity fails at the V.C. Summer plant near Columbia, according to the U.S. Nuclear Regulatory Commission.

The agency issued what it calls a preliminary "yellow” warning to plant owner Dominion Energy last week.

It is the second most serious category and only seven similar warnings have been issued across the country since 2009, nuclear power expert David Lochbaum told The State newspaper after reviewing records from federal regulators

The commission's ruling is not final and Dominion will have a chance to explain what happened, utility spokesman Darryl Huger told the paper in an email.

Dominion has already started to put in place a plan to improve the reliability of the backup system, Huger said.

A crack first appeared on a diesel fuel pipe in 2003, and similar pipes have had other cracks since then.

During a 24-hour test of the system in November, a small diesel fuel leak grew larger, according to NRC records.

The agency issued the preliminary yellow warning because of the repeated problems. Virginia-based Dominion hasn't been the only owner of the plant. SCANA built and started the plant in 1984. The South Carolina company had plans to build two more reactors, but billions of dollars of cost overruns forced it to abandon the project in 2017 and sell to Dominion.

Dominion has recently requested to renew the license for the nuclear plant for an additional 40 years

Longtime nuclear safety advocate Tom Clements told the newspaper the pipe problems should mean a lot more scrutiny by regulators.

"This incident serves as a wake-up call to fully analyze all such systems prior to a license-renewal determination,’’ Clements said in an email.

<<<



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>> individual company <<

The only nuclear stock I own is Centrus Energy (LEU), due to the HALEU angle, but it's only a $500 position (9 shares). I know almost nothing about this sector, but figure that a little exposure might make sense. But lots of potential landmines, so only token positions. I have tiny amounts in NLR, URA, URNM, but only $300 each, so basically just 'winging it' :o)

I figure if a key driver of BRICS expansion is that China and Russia are actively building nuke plants for emerging countries, this should at least ensure global demand for uranium (URA, URNM). And it also pushes the US toward expanding nuclear power, albeit reluctantly. And since the newer generation nuke plants like SMRs will need HALEU, then Centrus should benefit, especially since the US needs to restart its enrichment activities anyway, in order to break Russia's monopoly on enrichment.

But who knows, these are just vague hunches on my part. Some of the posters on Dew's board could have some more informed opinions. One of the posters knows a ton about the lithium mining side (link below), but not sure if he also follows the nuclear sector.

Either way, I'd be cautious with nuke related investing since the US/West globalists have been so dead set against nuclear for decades. The only reason they seem to be back on board with nuclear is they are forced to in order to compete with China-Russia-BRICS. They need to stop BRICS expansion, but it's late, and one desperation move would be to stage a nuclear event, a powerplant explosion, which would once again derail nuclear development worldwide. There's also the proliferation aspect, and it's hard to believe that they'll allow HALEU to proceed very far. Who knows, but best to keep the nuke sector as a very small sliver of one's portfolio imo.


https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171879461



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gfp You are more into this than me, so I ask, what is the best place right now in an individual company, not a fund, to invest in nuclear today? In your opinion, won't sue you if wrong, lol.

>>> Helion is a fusion power company focused on generating zero-carbon electricity from fusion. By building on the successes of its latest fusion prototypes, Helion is building the world’s first fusion electricity demonstration facility. Their pulsed non-ignition technology will be capable of low-cost 24/7 power generation that replaces the energy sources the world currently relies on, enabling a future with limitless, reliable and affordable clean electricity.

<<<


https://www.crunchbase.com/organization/helion-energy?utm_source=yahoo&utm_medium=referral&utm_content=profile_cta&utm_campaign=yahoo_finance


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Small Nuclear Reactors: The Answer To Big Tech's Energy Crisis?

https://oilprice.com/Alternative-Energy/Nuclear-Power/Small-Nuclear-Reactors-The-Answer-To-Big-Techs-Energy-Crisis.html

Microsoft hints at its nuclear plans by posting a job for a "Principal Program Manager Nuclear Technology" to explore integrating SMRs into its operations.
Small Nuclear Reactors offer quick deployment, reduced costs, and enhanced safety features, with over 80 designs under global development.
Challenges like sourcing materials for SMR development, particularly from politically complex regions, may delay their commercial rollout.

Microsoft could be the first of several companies to prepare to use small nuclear reactor (SMR) technology for its high energy consumption, as AI and other technologies become more widely used. There has been great enthusiasm around the potential of SMRs, which could be built faster and at a much lower cost than a traditional nuclear reactor. This month, Microsoft posted a job opportunity for a “Principal Program Manager Nuclear Technology,” suggesting its interest in using SMRs in the future, to support its energy-intensive operations. As companies begin to use a vast range of digital technologies in their day-to-day operations, their energy consumption could increase substantially, making the use of low-carbon nuclear power increasingly attractive.

SMRs are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, equivalent to around one-third the generating capacity of a traditional nuclear reactor. SMRs are much smaller than traditional reactors and are modular, making it simpler for them to be assembled in factories and transported to site. Because of their smaller size, it is possible to install an SMR on sites that are not suitable for bigger reactors. They are also significantly cheaper and faster to build than conventional nuclear reactors and can be constructed incrementally to meet the growing energy demand of a site.
There are strong safety margins included in SMR production, meaning that the potential for the unsafe release of radioactivity to the environment is significantly reduced. These systems can be shut down automatically, without human assistance, in the case of a malfunction. At present, there are over 80 commercial SMR designs under development worldwide, aimed at responding to a range of needs. Although companies are still trepidatious about investing in SMRs as their economic competitiveness in use has yet to be proven. As energy companies begin to roll out SMRs within the next decade there will be a greater understanding of their applicability and the costs involved.

Despite still being in the development stage, Microsoft appears to be one of the first companies to demonstrate its interest in SMRs. As companies continue to digitalise operations and conduct high-energy operations, they will need an increasing amount of energy to power their activities. For example, AI researchers suggest that training a “single large language deep learning model” such as OpenAI’s GPT-4 creates around 300 tonnes of CO2. The average person is responsible for creating around 5 tonnes of CO2 a year, showing just how significant this is.

Microsoft now appears to be drawing up a roadmap for the use of SMR to power its computation needs. This month, the company posted a job description to hire a nuclear technology expert to lead the company’s technical assessment for integrating small modular nuclear reactors and microreactors “to power the datacentres that the Microsoft Cloud and AI reside on.” The post reads that Microsoft is seeking a “principal program manager for nuclear technology”, who “will be responsible for maturing and implementing a global Small Modular Reactor (SMR) and microreactor energy strategy.”

This is not the first time the tech giant has shown interest in nuclear power. In May, Microsoft signed a power purchase agreement with Helion, a nuclear fusion start-up, to purchase electricity from it starting in 2028. And Bill Gates, Microsoft’s co-founder, is the chairman of the board of Terrapower, a company that is currently developing SMR technology. Although there has been no suggestion that Terrapower will provide Microsoft with any nuclear reactors.

Microsoft is showing an early interest in integrating nuclear power into operations. But, as more companies are using energy-intensive technologies, they will require vast amounts of energy to power their activities. Meanwhile, governments worldwide are putting increasing pressure on companies to decarbonise operations, with some introducing carbon taxes and others encouraging the use of clean energy sources through financial incentives. Renewable energy sources, such as wind and solar power, can take years to develop, and acquiring a stable clean energy source also means investment in battery technology. However, as the use of SMRs becomes more commonplace, their fast manufacturing time and small land footprint will likely appeal to companies looking for alternative clean energy sources.
Despite the optimism around SMR technology, a commercial rollout is likely still a long way off due to recent difficulties in acquiring the materials needed to develop these reactors. Many SMRs under production at present will run on uranium at enrichments as high as 15 to 19.75 percent, known as high-assay low-enriched uranium (HALEU). However, this is currently only commercially available from Russia, with which many governments and private companies have cut ties following the Russian invasion of Ukraine last year. Chris Levesque, the CEO of TerraPower, explained “It has become clear that domestic and allied HALEU manufacturing options will not reach commercial capacity in time to meet the proposed 2028 in-service date for the Natrium demonstration plant.”

There has been a rise in the popularity of SMR technology, thanks to its small size and relatively low-cost and fast manufacturing potential. While the commercial rollout of SMRs is still far off, it could provide the vast amounts of low-carbon energy required to meet the world’s growing electricity needs. And tech companies, such as Microsoft, will likely be some of the first to invest in SMR technology as they look to meet their rising computation needs while striving to decarbonise operations.

By Felicity Bradstock for Oilprice.com

>> nuclear sector <<

While these look near term overbought, I figure the nuclear sector may not be the best place to follow the usual TA signals too closely. The nukes had been so far out of favor for so long, if nuclear continues to come back in favor then we're still in the early innings. Plenty of landmines though, and I'm not that familiar with the sector, so only tiny positions.



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URA made a 52 week intraday high.

https://stockcharts.com/h-sc/ui?s=URA&p=D&yr=1&mn=0&dy=0&id=p78831159970

That's an interesting article on thorium, thanks.

Btw, it's starting to look like this breakout could be the start of a longer term bull market for the nuke sector. Tough to say, but I decided to re-enter with the same 4 vehicles as before (URA, URNM, NLR, LEU). This time even smaller amounts, but I figure it's at least a token position, and will try to hold it for the longer term.




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"thorium" Never heard of it.

Investing in thorium can be tough, as it’s not yet used for nuclear power generation. Companies like Flibe Energy, which is focused on thorium reactors, are still private.

https://www.energyandcapital.com/resources/thorium-investing/51975#:~:text=Investing%20in%20thorium%20can%20be,add%20to%20your%20portfolio...

Take a look at the word thorium.

What do you see?

Those familiar with Norse mythology or the Marvel comic books might notice the root of the word is Thor, the name of the god of thunder. Thor is known for his strength and power, wielding a hammer and controlling the lightning and thunder.

The name alone implies a superhuman power, a superior energy. And the element doesn't disappoint...

Thorium is a radioactive chemical element that can be found in soil and rocks. In its purest form, it appears as a silver metal, but when heated in the air, it becomes like a white light, like lightning.

Thorium is currently used in things such as light bulbs and camera lenses. It can create a high-quality refractive glass, and its high melting point can allow ceramics to resist high temperatures.

But light bulbs and ceramics aren’t what have the energy industry watching closely...

Heat resistance is.

You see, thorium’s ultra-high melting point can be useful in more than just ceramics. Heat resistance is something scientists and energy specialists alike have been trying desperately to achieve with nuclear energy.

One of the biggest issues with nuclear plants is the meltdowns that can occur if the uranium is not cooled properly. We saw that tragically exhibited in Japan in 2011, when an earthquake and tsunami caused a series of meltdowns at the Fukushima Daiichi plant. The fact that the only other disaster of that caliber was the 1986 Chernobyl disaster has done little to ease the minds of world governments and energy companies. This simply highlighted the tragedy that can come along with it.

Which is why thorium’s properties have become so coveted. If the material were virtually meltdown-proof, the clean energy possibilities would be endless.

There is only one problem: Thorium is unable to sustain a nuclear reaction on its own.

Thorium in Nuclear Energy
Thorium’s inability to sustain a nuclear chain reaction causes a problem, but it’s not one without a solution.

The material can actually prove quite effective when combined with a fissile material — one that is able to sustain a nuclear reaction.

These materials include uranium-233 (which is actually an isotope of thorium), enriched uranium (U-235), and plutonium (Pu-239).

The use of thorium in a nuclear reaction significantly lowers the waste produced; of the waste that does occur, radioactively decaying elements are lowered as well. Combined with weapons-grade uranium, for instance, one University of Oslo researcher found that thorium can aid in reducing radioactive waste by up to 95%.

And the safety of a thorium reactor compared to one using uranium is much higher. As mentioned before, thorium’s high melting point makes a nuclear meltdown much less likely.

But thorium can’t be used in just any nuclear reactor. Only seven types are safe for thorium reactions, including heavy water reactors, high-temperature gas-cooled reactors, boiling (light) water reactors, pressurized (light) water reactors, fast neutron reactors, molten salt reactors, and accelerator driven reactors. Molten salt reactors and accelerator driven reactors are still conceptual, though the other five have all been operational at some point.

The liquid-fluoride thorium reactor (LFTR), a type of molten salt reactor, is being touted by many as the best solution to thorium-powered nuclear energy. In these types of reactors, thorium and uranium fluorides are combined into a salt mixture that’s heated to a molten substance, which is then used to fuel the reactor.

These reactors have the potential to become self-sustainable, as they will be able to produce U-233 (the thorium isotope).

Flibe Energy, a company started by nuclear technologist and former NASA aerospace engineer Kirk Sorensen, is conducting research on LFTR technology with a view to eventually incorporate these reactors not just into electrical energy generation, but also into fields as vastly different as desalination, cancer treatment, and deep space exploration.

Creating the Nuclear Reaction
Still, the fissile material that enables a thorium reactions is actually fairly difficult to supply...

For years, the U.S. has had a steady stream of U-235 coming in, but that runs out this year.

Following the fall of the Soviet Union in 1991 and the Lisbon Protocol in 1992, the U.S. and Russia arrived at the U.S.-Russian Highly Enriched Uranium Agreement, or what came to be known as the “Megatons to Megawatts Program.”

Under the terms of the 1993 agreement, Russia would dismantle Soviet nuclear warheads and convert 500 tonnes of highly-enriched uranium to low-enriched uranium, which would be sold to the U.S. for use in nuclear reactors.

By 2013, ten years after the start of the program, all 500 tonnes would be converted. As a result, the U.S.’s steady supply of uranium came to a halt in 2013.

But for thorium, it might not be as bad as it seems. After all, U-235 isn’t the only fissile material that could be combined with thorium for a nuclear reaction...

U-233, an isotope of thorium, can react with thorium for a nuclear reaction. And this is the focus of the LFTRs, as it could lead to self-sufficiency of these reactors with the recycled waste.

It’s not easy. Thermal breeding, as the process is called, requires the reactor to produce more fissile material than it consumes, and it requires a highly specialized type of reactor.

Regular nuclear reactors are unable to breed to the point where it is unnecessary to add more of the fissile material. But many LFTRs are being designed as breeding reactors. While regularly adding thorium to these reactors would be necessary, adding U-233 would not. Enough fissile material would be created in the reactions to sustain it on its own.

Investing in Thorium
Investing in thorium can be tough, as it’s not yet used for nuclear power generation. Companies like Flibe Energy, which is focused on thorium reactors, are still private.

Uranium Mining Companies
Several uranium miners, like Cameco Corp. (NYSE: CCJ) and Unity Energy Corp. (UTY.V), are mining uranium in areas that also have concentrations of thorium.

Though neither company has reported on significant mining of thorium, both are well-positioned to profit should the demand for the metal skyrocket.

As thorium reactor testing continues in nations like Norway and India, and major investors like Bill Gates (whose company TerraPower has also begun testing thorium reactors) get involved, attention to the metal will only grow...

Research on these reactors will lead to implementation, and that will lead to profits for the well-positioned investor.

Thorium is the key nuclear fuel of the future. Keep a close eye on this one.

Full article - >>> Uranium Investors Bet Big On Nuclear Renaissance


OilPrice.com

By Alex Kimani

Sep 24, 2023


https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Investors-Bet-Big-On-Nuclear-Renaissance.html


Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive.

Uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD.

Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.

Uranium and the nuclear energy sector are enjoying a renaissance. There has been a palpable shift in support for nuclear power amid the transition to low-carbon fuels as well as a renewed push to enhance energy security after the global energy crisis triggered by Russia’s war in Ukraine.

Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive. And few have been as monumental as Finland's Green Party which voted overwhelmingly in 2022 to categorize nuclear power as a form of sustainable energy after decades of strong opposition. A third of Finland's electricity is generated by nuclear power.

“I am very happy and proud. This is a historical moment in the history of the green movement, as we are the first green party in the world to officially let go of anti-nuclearism.” said Tea Törmänen, a voting member and chair of the Savonia/Karelia chapter of Viite, the pro-science internal group of the party, shortly after the vote.

Other European nations quickly followed suit with Belgium, Spain and Sweden supporting nuclear energy.

Not surprisingly, uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD, better than any other metal and topping $65/lb for the first time in 12 years.

Uranium-based investment vehicles and ETFs have performed even better than the metal they track: Global X Uranium ETF (URA) is up 29.2% in the year-to-date; Horizons Global Uranium Index ETF (HURA.TO) has returned 40.3% while VanEck Uranium+Nuclear Energy ETF (NLR) has gained 28.5%. Uranium miners have not disappointed either: Cameco Corp. (NYSE:CCJ)+75.2%, Uranium Energy Corp. (NYSE:UEC)+40.1% and Consolidated Uranium Inc. (OTCQX:CURUF)+30.7%.

Uranium Shortage Bites

But the biggest bullish catalyst yet for uranium bulls has been supply deficits at a time when demand is surging. Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.

The coup in Mali, which produces ~4% of the world's total, and Cameco's falling production due to difficulties at its Cigar Lake mine and Key Lake mill in Canada have also constrained supply. Global supplies remain constrained mainly due to years of under-investment in new production, monopoly of state-owned entities, transportation risks and geopolitical uncertainties.

Meanwhile, in its latest biennial report, the World Nuclear Association has predicted that demand for uranium used in nuclear reactors will surge 28% by 2030 and nearly double by 2040 as governments ramp up nuclear power capacity in a bid to meet zero-carbon targets.

Sachem Cove Chief Investment Officer Michael Alkin has told The Wall Street Journal that the uranium market remains “very tight’’ and prices are likely to move even higher heading into 2024. Alkins says he expects utilities to start ramping up talks for uranium conversion and enrichment through private negotiations during the fall or requests for proposals.

Cameco says the dual agendas of clean energy and energy security have so failed to translate into a stronger primary supply pipeline. According to the uranium miner, the uranium market is still in the "relatively early stages of the cycle as uncovered uranium requirements by utilities remains elevated," and only "sustained long-term uranium demand will ultimately drive the company's future production plans."

Cost and Policy Risk

Like all investment theses, uranium bulls will have to contend with some key risks. First off, over the decades, the nuclear sector has become notorious for huge cost overruns by uranium projects. Unfortunately, project managers, financial planners and financiers do not appear to be any closer to solving this conundrum in this age of AI.

Not only has the cost of building new nuclear plants sky-rocketed in recent years but plants currently under construction are massively exceeding cost estimates. A large 3,200 megawatt (MW) plant planned to be built in southwest England by France's EDF , the world's largest nuclear operator, is now estimated to cost ~$40 billion, or 30% higher than the initial estimate. Smaller projects are not immune to this problem either. NuScale Power’s 462-MW plant under construction has seen cost estimates increase from $58 per megawatt hour in 2021 to $89/MWh in 2023, a more than 50% jump in the space of just two years.

Second, another major nuclear accident like Three Mile Island or Fukushima might rapidly sour the public sentiment and even force a policy shift. A major thorium breakthrough might spell doom for the uranium sector since thorium reactors do not carry the same risk of a catastrophic meltdown inherent in nuclear reactors powered by uranium.

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Uranium Investors Bet Big On Nuclear Renaissance

https://oilprice.com/Alternative-Energy/Nuclear-Power/Uranium-Investors-Bet-Big-On-Nuclear-Renaissance.html

Summary>>>>>
Dozens of governments and influential bodies that were formerly opposed to nuclear energy are now openly embracing and hailing it as a necessary player in the global electrification and decarbonization drive.

Uranium markets have lately been on a roll after prices for yellowcake gained more than 20% YTD.

Global uranium production dropped by 25% from 2016 to 2020 amid low prices before recovering slightly to 49,355 metric tons last year.

Bold plans to use nuclear generated hydrogen to decarbonise a key British industry, have taken another huge step forward.

wow comment, "Nuclear is growing world wide"

https://www.niauk.org/more-progress-on-exciting-hydrogen-plans-for-heysham-2/

The Department for Energy Security and Net Zero has announced £6.1m for the Bay Hydrogen Hub – Hydrogen4Hanson scheme, a figure that will be matched by the project partners. The funding is from the government’s £1 billion? Net Zero Innovation Portfolio (NZIP), which provides funding for low-carbon technologies and systems.

The hub, a consortium made up of EDF, construction materials producer Hanson, National Nuclear Laboratory (NNL), and Vulcan Burners, is aiming to pilot a project in which nuclear derived hydrogen is used to decarbonise asphalt and cement production.

The Government and industry funding, which combined will exceed £15m, will go towards developing a final design for the hydrogen production, distribution and end use technology and for exploring the full costs and delivery plans.

Rachael Glaving, Commercial Director at EDF, said: “For decades nuclear power in the UK has provided zero-carbon electricity to the grid and helped to constrain the nation’s emissions, collectively saving more than 700m tonnes of carbon dioxide going to the atmosphere.

“But we know nuclear power can do even more to drive the nation towards decarbonisation. Our hope is that this project shows industries that are dependent on fossil fuels, as well as the nuclear sector, that by working together we can build a lower carbon future for industry and confirm the UK’s place as a global decarbonisation technology leader.”

The Bay Hydrogen Hub proposes to build a solid oxide electrolysis cell (SOEC) electrolyser at Heysham 2 Power Station in Lancashire. The station, which generates 1.25Gw of electricity, will divert small quantities of electricity and steam, generated by the nuclear process, to an SOEC built onsite. This would create hydrogen, which would then be transported in modern high-capacity tankers, to Hanson’s Criggion asphalt plant in North Wales.

There the hydrogen would be used to fuel the industrial processes which presently use a mix of liquid fossil fuel. At present, no facility in the world has used hydrogen as a fuel for asphalt production. Earlier in 2023, a feasibility study demonstrated the significant benefit the project would bring in proving how nuclear could power hydrogen electrolysis.

Gareth Headdock, Vice President of Government and New Build, National Nuclear Laboratory, said:

“This project places the UK as a global leader in the development of nuclear enabled hydrogen. We are really excited to see this new application of nuclear energy, along with the increasing investment in advanced nuclear. As we invest in the next generation of scientists and engineers, the Bay Hydrogen Hub is building the skills we need for our hydrogen future.”

Simon Willis, CEO Hanson UK, said:

“Nuclear power derived hydrogen has the potential to be a complete game-changer for decarbonising asphalt and cement production. Our involvement in the Bay Hydrogen Hub project underscores our commitment to lead the way by investing in cutting edge technologies to prove they can deliver in real-world situations and help us meet our net zero goals.

“Hanson has already successfully shown that hydrogen can be used as part of a net zero fuel mix at our cement works in Ribblesdale, Lancashire, but its use as a fuel at an asphalt site has not yet been physically demonstrated anywhere in the world. It’s an exciting time and we are hopeful that the project will demonstrate another key step forward towards the decarbonisation of our industry.”

Over the coming months, the project partners will develop the full designs for the electrolyser and scope and cost all works that will be required at Heysham 2 to take the scheme forward. Once this work is concluded, a decision will be made which could see construction, and supporting physical works, begin at the power station in early 2024.

>> distracts us <<

Yes, keeping the public distracted is essential. The CBDC is their biggest domestic goal, and to prevent any opposition they keep us perpetually divided, squabbling, and preoccupied with mindless diversions that won't threaten the oligarchy.

But by far their biggest problem right now is internationally -- how to somehow maintain global hegemony when challenged by the BRICS juggernaut? This is an existential problem, and their desperation is growing. The domestic control situation is essentially 'in the bag' (CBDC), but the global hegemony side is slipping away rapidly. In Jan BRICS goes from 5 countries to 11, with dozens more clamoring to join. It's a full blown mutiny that has to be stopped, but what desperation measures will the US/West have to resort to? Looks like we'll find out.




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I think you may be giving the Deep State too much credit for knowing what is good or bad. They control soo much oil and coal, that they may be more concerned with loss of oil and coal money. for now Dairy is good for us? it is good for if you own the industry. The dairy lobby is huge, paid for my users of dairy. Withing murders on TV, movies, and video games is a good thing for us? Not if you own the entertainment industry. China now has a world champion female UFC fighter. Violence is good? So called entertainment distracts us from what those MFers are doing.


https://www.youtube.com/watch?v=9qY5DrGdqyQ&ab_channel=MMAOrigins%7CMMADocumentaries

The nuclear plays are really looking near term overbought, based on the charts anyway. Longer term could be a different story (still a long way to go), but I took profits in my remaining 2 nuke plays anyway. Those charts just look too spiked right now, RSIs nearing 80, etc.

LEU doesn't look as overbought, but I'm starting to have reservations about the idea that the 'Deep State' will ever allow their 4X enrichment paradigm to ever reach broad deployment. They (Deep State) have been obsessed with minimizing proliferation risks, and it's hard to imagine them suddenly reversing course. Centrus should benefit from the big US drive to restart domestic enrichment capabilities, but seeing this fuel go into hundreds or thousands of SMR/ Small Modular Reactors all over the place seems too unlikely due to the proliferation aspect.

Anyway, it might be better to just sit with these nuke plays for the longer term, but I don't understand the sector well enough, and owning them creates enough angst to where I'll probably just watch from the sidelines.

Also, I still wonder about a possible nuclear 'event' happening, designed to poison the well for the expansion of nuclear power. Russia and China are building nuke reactors all over, which is a big draw for their expansion of BRICS membership, and this creates an incentive for the US/West ghouls to try to derail nuclear via a false flag event. That could just be my conspiracy addled brain going into overdrive, but that Ukraine reactor (Zaporizhzhia) just seems like too obvious a target, whether by accident, intentionally, or false flag. That place has 6 reactors, so imagine the consequences if it blows up and Europe is irradiated.

Anyway, I'll probably just watch these stocks from the sidelines. BWXT might be a lower risk idea in the sector, with their navy / military side -


>>> BWX Technologies, Inc. (BWXT), together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S. Navy submarines; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers. This segment also involved in manufacture of close-tolerance and equipment for nuclear applications; and converts Cold War-era government stockpiles of high-enriched uranium, as well as receives, stores, characterizes, dissolves, recovers, and purifies uranium-bearing materials; supplies research reactor fuel elements for colleges, universities, and national laboratories; and components for defense applications. The Commercial Operations segment designs and manufactures commercial nuclear steam generators, heat exchangers, pressure vessels, and reactor components; and other auxiliary equipment, including containers for the storage of nuclear fuel and other high-level nuclear waste. It also offers nuclear fuel, fuel handling systems, tooling delivery systems, nuclear grade materials, and precisely machined components, as well as related services for CANDU nuclear power plants; in-plant inspection, maintenance, and modification services, as well as non-destructive examination and tooling/repair solutions; and medical radioisotopes, radiopharmaceuticals, and medical devices. The company was formerly known as The Babcock & Wilcox Company and changed its name to BWX Technologies, Inc. in June 2015. BWX Technologies, Inc. was founded in 1867 and is headquartered in Lynchburg, Virginia. <<<





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>> don't get my social security/Medicare if I don't take the jab <<

Yes, that's the idea, although it will take a number of years before it comes to that. But this is the type of behavioral control that a CBDC makes possible. China has has their CBDC for a number of years now, and combined with their 'social credit score' system, it amounts to total behavioral control over the population. Do what they say / dictate or they just 'switch off' your use of money.

It's not hard to see why the CBDC is so popular, with approx 120 countries developing one. With China's social credit score system, your score drops if you don't comply with government mandated behaviors, and when your score hits certain levels your ability to travel is curtailed (limited to a 5 or 10 mile radius), your money won't work for certain transactions, etc. Ultimately they can just switch off your money altogether, remove it from your account, etc. It's Orwell's 1984 on steroids.

This is the world's future, but it won't happen overnight, so at our age we probably won't see the full rollout in the US. Orwell summarized what's coming -- 'If you want a picture of the future, imagine a boot stamping on a human face – forever.'

Similarly, for corporations they established the ESG score system (Environment, Social, Governance), to control corporate behavior. If the corporation doesn't comply with government / globalist approved policies, the company's ESG score drops and eventually their stock can no longer be held by pension funds and other large investment entities. So corporations must toe the line, just like us small fry. It's basically a slave system being set up as we watch.



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gfp, that was a very interesting reply. I am faced with the thought of that I don't get my social security/Medicare if I don't take the jab? I hope the goal is population control, not killing us seniors, etc. outright.

>> quarantine crashed most everything <<

I figure the recent surge in Covid news coverage is mainly just to get the fear gauge up so people will get the jab again, but a lot fewer people will fall for it this time. They want to make this an annual jab, like the flu. Once the CBDC is in place they can effectively enforce mandatory jabs, and this would be an ideal mechanism for population control / reduction. Here's one of many possible mechanisms that could be used -


>>> Relevance of immuno-contraceptive vaccines for population control. I. Hormonal immunocontraception

Arch Immunol Ther Exp (Warsz)

1990;38(1-2):47-60.

S K Gupta 1, P T Koothan

Abstract

Human chorionic gonadotropin--subunit beta (beta-hCG) has been so far most extensively studied antigen for immuno-contraceptive properties. Studies of vaccination of non-human primates has been so far controversially reported since some antisera obtained from baboons immunized with beta-hCG had shown cross-reactivity to other tissues. Despite these problems and concerns about the complete safety of this first generation vaccine, a decision has been made to proceed with a limited clinical trials with this vaccine. Results from these trials are encouraging and indicate that contraceptive antibody titers can be achieved with permissible adjuvants. Neutralization of LH and/or FSH by circulating antibodies may impede their action and interfere with the maturation of gametes. Gonadotropin releasing hormone can be also a suitable target for immunological attack.

https://pubmed.ncbi.nlm.nih.gov/2126920/

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All Nuclear did well today. 4 of the top 7 ETFs today were Nukes>>>>>

I'm in cash. The quarantine on 2020 crashed most everything, A lot of noise about a new needle plunge. Plan on buying after a dip or worse.

https://www.barchart.com/stocks/performance/percent-change/advances?screener=unleveraged_etf&orderBy=percentChange&orderDir=desc

>>> Centrus Gets NRC Green Light to Introduce Uranium Into HALEU Nuclear Enrichment Cascade


Power

June 22, 2023

https://www.powermag.com/centrus-gets-nrc-green-light-to-introduce-uranium-into-haleu-nuclear-enrichment-cascade/#:~:text=The%20Nuclear%20Regulatory%20Commission%20(NRC,centrifuge%20cascade%20in%20Piketon%2C%20Ohio.

The Nuclear Regulatory Commission (NRC) has allowed Centrus Energy—a firm contracted by the U.S. Department of Energy (DOE) to demonstrate high-assay low-enriched uranium (HALEU) production with domestic technology—to introduce uranium hexafluoride (UF6) into its uranium enrichment centrifuge cascade in Piketon, Ohio.

The development marks yet another critical milestone for Bethesda, Maryland–headquartered company in its efforts to begin first-of-a-kind HALEU production at its American Centrifuge cascade in Ohio by December 31, 2023. When completed, the facility could be the first new U.S.-owned, U.S.-technology enrichment plant to begin production in 70 years, it has noted.

The Big Step to Address a Crucial Nuclear Fuel Supply Gap

While delayed by supply chain constraints and the COVID pandemic, the pioneering demonstration has been eagerly awaited, given its implications for alleviating—even if moderately—supplies of HALEU, a form of uranium-235 fuel enriched to 20%. Experts note that because HALEU is enriched higher than the 4% to 5% level typically used in existing reactors, it may provide more power per volume than conventional reactors, and its efficiency allows for smaller plant sizes. The fuel type also promises longer core life and a higher burn-up rate of nuclear waste.

Several advanced nuclear reactor designs, including nine of the 10 designs awarded under the DOE’s Advanced Reactor Demonstration Program (ARDP), require HALEU. However, HALEU is currently available from only two sources: limited amounts from the DOE via down-blending of existing stockpiles of material and from commercial supplies via TENEX, a nuclear fuel company owned by Russian state-owned company Rosatom.

Centrus’s American Centrifuge cascade uses gas centrifuge machines, which feed uranium hexafluoride (UF6)—heated to a gaseous state—into a rotor inside the centrifuge machine. A rotor spinning at high speed inside a steel casing uses centrifugal force to concentrate the heavier U-238 isotopes at the outer wall of the rotor and the lighter U-235 isotopes toward the rotor center. The streams are then fed to the next machines in a “cascade” to achieve the desired level of enrichment. Centrus will use a 4.95% LEU feed material for its planned HALEU 16 AC100M-centrifuge cascade. It suggests roughly 85% of the separative work units (SWU)—a measure of enrichment needed to produce HALEU—is already contained in the LEU feed material

Centrus Energy’s original AC100 machine was developed with support from the Department of Energy and later refined by Centrus to the current AC100M machine under contract with Oak Ridge National Laboratory. Centrus Energy will demonstrate 16 of its centrifuges at its enrichment facility in Piketon, Ohio. The machines will be used to enrich uranium hexafluoride gas to produce an initial 20 kilograms of HALEU by December 2023 to support advanced reactor fuel qualification testing and reactor demonstration projects.

NRC Green Light Follows Operational Readiness Reviews

The company began building its cascade of 16 AC100M centrifuges in 2019, after entering into a $115 million cost-shared contract with the DOE, under which the DOE agreed to reimburse the company for 80% of its costs incurred in performing the contract. While the contract was modified several times, the government’s total contract funding currently amounts to $173 million.

In 2022, the DOE elected to move the operational portion of the demonstration to a competitively-award contract to prolong the operational period. After a solicitation process, it awarded a $150 million “definitized contract” to Centrus under two phases through 2024. Phase 1 calls for the completion of the cascade and the start of operations to produce an initial 20 kg of HALEU UF6 (19.75% enriched) by December 31, 2023. Centrus in February 2023 completed construction and initial testing of its advanced uranium enrichment centrifuge cascade as well as most of its associated support systems.

Under Phase 2, Centrus plans to continue production for a full year at an annual production rate of 900 kg of HALEU. The DOE will own the HALEU produced from the demonstration cascade. The operation contract also gives the DOE options to pay for up to nine additional years beyond the base contract, though those options will be subject to the availability of Congressional appropriations.

According to Centrus, the NRC’s approval issued on Thursday to allow Centrus to possess uranium and introduce it into the demonstration cascade follows the federal regulator’s operational readiness review. “The operational readiness reviews were required under Centrus’ NRC license, which was successfully amended in 2021 to make the Piketon site the only NRC-licensed HALEU production facility,” the company noted.

Next Steps: Scaling Up?

Now that construction and initial testing have been wrapped up, and the NRC has authorized Centrus to introduce UF6 into the HALEU cascade, Centrus will focus on completing construction on an on-site HALEU storage area. It plans to also conduct final testing activities prior to operation as slated by year-end.

Centrus is separately also exploring the possibility to scale up the Piketon facility for expanded HALEU production. Provided that it can secure sufficient funding or off-take contracts, the company estimates that a full-scale HALEU cascade—consisting of 120 individual centrifuge machines with a combined capacity of approximately 6,000 kg of HALEU per year (6 MTU/year)—could be brought online within about 42 months. “Centrus has the capability to add an additional cascade every six months after that,” it said.

DOE Takes Notable Steps to Boost Domestic HALEU Availability

The DOE estimates that more than 40 metric tons (40,000 kg) of HALEU could be needed by 2030 to deploy a new fleet of advanced reactors in a timeframe that supports the Biden administration’s goal of 100% carbon-free electricity by 2035.

Under the HALEU Availability Program, which Congress established in the Energy Act of 2020, the DOE has so far established a “HALEU Consortium,” a public-private coordination effort. The DOE has meanwhile also begun working to establish a temporary domestic demand for HALEU to stimulate a diverse supply of commercial HALEU. It hopes that these efforts could ultimately lead “to a competitive HALEU market and more certain domestic HALEU demand.”

On June 12, notably, the DOE’s Office of Nuclear Energy issued a notice to prepare an environmental impact statement in accordance with the National Environmental Policy Act (NEPA) for the DOE’s proposed efforts to facilitate and commercialize domestic HALEU production.

On Monday, the agency also issued two draft requests for proposals (RFPs) focused on HALEU acquisition. The first RFP is related to services and HALEU material production. The second RFP focuses on deconversion activities to convert enriched UF6 gas into metal or oxide forms, which can be used to fabricate fuels needed by several advanced reactor developers.

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But too much 'thinking' is probably bad for our long term investment results. For someone like Buffett, thinking and analysis has been a full time job, and he's really good at it. But for the rest of us mere mortals, Buffett's advice is to just use the S+P 500 index. So he's basically saying 'don't think, put it on autopilot'. John Bogle came to a similar conclusion for the vast majority of us investors -- don't try to pick stocks / sectors or time the market, just use the broad index, and controlling risk can be achieved via the asset allocation model.

It's simple, so why don't more investors do it? Two reasons - 1) it's boring, there's no 'action', and 2) investing has become an interesting hobby that is hard to give up.

But a way around this to continue following stocks / sectors for fun / interest, just don't use real money, or only small amounts. The bulk of one's stock allocation is in the broad index, which is subject to the allocation model, ie - 10%, 20%, 30%, etc. Anyway, that's the conclusion I came to, but would have been much better to have this approach decades ago.




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>>> Saudi Arabia Sets Its Sights on a Less Glamourous Source of Wealth


Bloomberg

by Matthew Martin, Fahad Abuljadayel and Thomas Biesheuvel

September 7, 2023


https://finance.yahoo.com/news/saudi-arabia-sets-sights-less-040005931.html


(Bloomberg) -- In scorching summer heat, Renier Swiegers marches through the desert toward a drilling rig. He’s not looking for oil, the dynamo of Saudi Arabia’s economy the past 80 years, though. It’s another potential source of wealth and influence the kingdom now has its eye on.

Having already used its energy riches to upend the worlds of sports, tourism and movies, Saudi Arabia’s Crown Prince Mohammed bin Salman is prepared to pour billions of dollars into tapping the more than $1.3 trillion of metals his government says is buried in places like this.

The plan may be among the less glamorous components of his grand Vision 2030 to transform the Saudi economy. The prospect of turning the country into a metals hub that can make a dent in a global industry also has no shortage of skeptics. But Saudi Arabia’s 38-year-old de-facto leader has no shortage of wealth or ambition. Key will be convincing international mining companies it’s worth their while.

If only partially successful, the dream would have implications beyond the Middle East, not just for metals mining but also Saudi Arabia’s relations with the US, China and the emerging markets the kingdom is inching closer to.

Swiegers, a Namibian who works for British mining firm Moxico Resources Plc, is a believer. He’s helping establish a new zinc and copper open pit mine about 200 kilometers (125 miles) west of the Saudi capital, Riyadh.

“I’ve done projects all over Africa, and I know the geology and where is good to mine,” said Swiegers, extracting earth samples from the rig from as deep as 200 meters and pointing to copper deposits glittering in the sun. “This site is just like those.”

If everything comes to fruition, by 2025 the Khnaiguiyah site he’s working on will be producing metals including 100,000 tons a year of zinc and 10,000 tons of copper in its first phase. That’s miniscule by global standards — equivalent to Chile’s copper output in about 18 hours — but the aim is to double the volume. It’s one of several projects in the kingdom.

As well as developing local mines, there’s also another element to the plan that industry insiders say is less speculative and quicker to get up and running. Saudi Arabia wants to buy up resources from elsewhere to be refined and processed at new facilities inside the kingdom.

Read More: Forget China, The Hot Money in Mining Is Suddenly Saudi

In July, the country announced its first big push into international mining. It took part in a $3.4 billion deal in Brazil, buying a stake in Vale SA’s base metals unit alongside investment fund Engine No. 1.

The transaction was the first by Manara Minerals, a vehicle established by Saudi Arabia’s powerful sovereign wealth fund — the Public Investment Fund, or PIF — and Saudi Mining Co., also known as Maaden. The agreement gives the kingdom, which beat off competition from Japan and Qatar, a 10% slice in one of the world’s crucial suppliers of nickel and copper — essential metals needed to decarbonize.

There will be more. Manara’s two shareholders will initially provide about $3 billion for two or three international deals a year, and more funding will be provided if needed, people familiar with the strategy said. It’s part of Maaden’s aim to ramp up its role in domestic production, while also buying access to global resources.

Pillar of the New Saudi Economy

Using government subsidies and lending by state-controlled funds, the overarching goal is to position Saudi Arabia as an alternative supplier to China for the metals and minerals vital to the global energy transition, such as batteries for electric cars. In short, dirty old mining is one of the pillars of the clean new future.

“Saudi Arabia needs more than one engine to achieve its vision,” Khalid Al Mudaifer, vice minister of mining affairs, said in an interview. The kingdom’s plan is to transform itself into an economic and industrial powerhouse, he said. “For that we need minerals.”

The main metal of interest to companies is copper, but Saudi Arabia also wants to mine uranium and phosphates for its nascent nuclear program. That’s drawn the attention of Western powers and the United Nations, who are wary of nuclear proliferation in the Middle East.

Saudi Arabia has repeatedly pledged that its atomic program is strictly for peaceful purposes, but Prince Mohammed has said the kingdom would develop a bomb if the other big Middle Eastern power, Iran, did so.

Some executives and advisers at the world’s biggest miners, though, have doubts about the kingdom’s domestic mining plans and point first to its geology. Its uranium reserves have been called “severely uneconomic.” The copper deposits — the most desirable metal for most miners — were mainly formed by volcanic activity.

That means they will likely only be found in small to medium-sized areas. It makes them less attractive to mine than the deposits that stretch down the through the Andes in Latin America and provide the bulk of the world’s supplies or the sedimentary-rock formations in places like Central Africa.

These jurisdictions — and even the largely undeveloped copper crescent that runs through Iran and Pakistan — are seen as much more prospective for the large, long-life mines many of the major global companies are looking to develop.

There’s also the problem of water, something in scarce supply in Saudi Arabia, which is around 95% desert. “There is also the challenge of availability of infrastructure, particularly for deposits located in remote desert areas,” said Carole Nakhle, founder and chief executive officer of London-based consultancy Crystol Energy.

Much of the Saudi plan will hinge on how successful projects like the one at Khnaiguiyah are at getting from identifying specific locations of mineral deposits to commercial production. Ajlan & Bros, the local investor developing Khnaiguiyah along with UK-based Moxico Resources, has earmarked $14 billion to invest in developing mines and processing facilities by 2030.

The firm, controlled by a wealthy Saudi family that built its fortune on selling traditional Arab headdresses, is betting that “Saudi Arabia can become a new source of minerals and rare earths away from China,” said Fahad Alenezi, CEO for the metals and mining group at Ajlan & Bros. As China and the US compete for access to resources “this is healthy for us,” he said.

Ajlan is planning to develop the largest zinc and copper processing plant in the Middle East at Yanbu on Saudi Arabia’s west coast. Most of the focus will be domestic demand, but the firm is already getting offers from Chinese and European trading houses to take any commodities it can produce.

Saudi Arabia is partnering with the Chinese Geological Survey on a $207 million contract to help identify minerals in the so-called Arabian Shield area of the kingdom where most deposits are, officials said at a Saudi-China business conference in June. The government in Beijing has also led efforts to identify the kingdom’s uranium deposits.

“The bottom line is that Saudi is exceptionally prospective,” Mark Bristow, CEO of Barrick Gold Corp, said in an interview during a visit to Riyadh in January. As for the estimate of more than $1 trillion of metals in the ground, “Whatever that number is, it’s worth an investment,” said Bristow, whose company took a risk on Mali more than 25 years ago and helped to turn it into a top African gold producer.

Canada’s Barrick operates a copper mine on Saudi Arabia’s southwestern coast near the Red Sea. It’s also been in talks with the PIF about a potential stake in a copper project in Pakistan, which would bring in Saudi money and political influence, people familiar with the matter said recently.

Vision 2030 Eyes $75 Billion

The government is offering big incentives for companies to start mining. The Saudi Industrial Development Fund will offer financing for up to 75% of a project. There’s a five year grace period on royalty payments, a cap on taxation levels, and a commitment not to levy windfall taxes. All government income from mining will go into a special fund to be reinvested in the industry.

Mining is the so-called “third pillar” of the economy in Vision 2030. The others are petroleum and petrochemicals, meaning mining would become the biggest part of the economy after oil and gas. The industry would eventually employ more than 250,000 people and contribute some $75 billion to Saudi gross domestic product by 2030, according to the targets.

A metals refining and processing industry could have potential to draw interest from international partners looking to provide more competition with China, which currently dominates minerals processing and battery manufacturing. That, of course, is if it all goes to plan.

So far, Saudi auctions for exploration licenses in the country have attracted only smaller players. The kingdom in August announced another bid round for investment and development of eight mining areas across the country.

Doubts among the big miners, though, don’t mean they aren’t closely following the Saudi efforts. Under the crown prince, Saudi Arabia is willing to take the kind of commercial risks other countries with mining ambitions might balk at, and his futuristic new city in the desert, called Neom, and the recent lavish spending on football shows the kingdom’s belief in its aims.

“Others in the industry were telling me that this is real and it’s something you need to get closer to,” Mike Henry, CEO of BHP Group Ltd., the world’s biggest mining company, said during a trip to Saudi Arabia. “It’s definitely the real deal.” That was in January when he attended the country's annual mining conference. Whether giants like BHP get involved remains to be seen.

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