The uranium sector enjoyed a strong 24 hours after Cameco (CCJ US) reported earnings ahead of expectations. Plus, they discussed the strong supply/demand backdrop, which should drive the ongoing strength in the sector – a view MM has agreed with through 2023 and discussed in our Resources into FY24 webinar.
While recommissioning a mine & processing facility increases the near term risk, at this stage we believe they are on track to bring on production at an opportune time of the Uranium price cycle.
- We are meeting with the CEO Ian Purdy today and will update our views further in coming notes.
MM is long and bullish toward PDN
Add To Hit List
