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It is one of the two primary extraction methods used to obtain uranium from the ground. What the heck is ISR mining you ask? ISR uranium mining stands for ‘in situ recovery’ which is a fancy term to describe a method of uranium extraction. enCore Energy (EU.V) Market Cap ~ $565 millionĮnCore energy is a diversified US domestic uranium developer focused on becoming a leading ISR uranium producer. Here are a few company set ups I am watching. For investors, this means acquiring positions in companies to play for the next leg up. In fact, many uranium plays both major and minor, are showing the same retest structure. I would be watching for prices to remain above $18.00 in order to resume the uptrend.Ĭameco is the major uranium producer in Canada and the chart is also showing signs of a pullback. Support is never just one number, but a zone. The chart structure is the same, and right now, we are looking for that retest of the breakout zone, just like spot uranium. The Sprott Uranium Trust (ticker: U.UN) is the chart I bring up on all my uranium articles as it is perhaps the best way to play spot uranium. If so, there is a ton of room to the upside. And remember, we could very well break above this. On the longer term monthly chart, we still have some room to the upside before we test our resistance zone at around $72.50. Bulls are hoping to see a nice wall of buyers there holding the line. On the daily chart, this pullback could take us down to $60 again which would act as support. A possible pullback, or retracement, before the resumption of the uptrend. And now, we just expect typical breakout price action. Uranium broke out above $60 printing new highs for 2022 at $64.50.

The breakout we were watching for also occurred. Nuclear energy being the best clean energy source is still something extremely bullish for spot uranium. In that article, I mentioned a few fundamental things which haven’t changed. A lot of the information will be relevant to understand the grasp Russia has on multiple energy and commodity sources.Įarlier this month, I spoke about the resumption of the Uranium uptrend. I digress, but you should read Marin Katusa’s “ The Colder War” for more details. Somebody might need to tell them that Russia still plays a large part in enriching Uranium and building modern day nuclear power plants. Some are saying these nations will need to reactivate their nuclear power plants, and in fact, invest more in nuclear energy. Commodities remain the place to be for the inflation trade, and uranium has many other fundamentals backing it that are not only supply chain related.Įnergy is going to be a big topic in Europe as nations such as Germany and France attempt to disconnect from Russia.

Uranium prices are pulling back after posting new highs for 2022.