Robert Blabey

to get away from nuclear specifically and to de-emphasize nuclear energy around the risks.

Little known to most of the people is that all of these facilities, these nuclear facilities, had two to five years generally of uranium on property.

This is fuel stock so that they had ready available fuel stock.

When the disaster occurred, this fuel stock became therefore available into the

And so the fuel stock became, you know, if you will, competitive with with the uranium mines out there.

And so what that meant was that uranium prices came down significantly.

And in addition, they had situations where there was so there's underinvestment.

You had nuclear power, fewer nuclear power plants generating power.

So you had less demand.

And this sort of de-emphasis on nuclear growth in the future led to like a lot of pessimism in the market.

And then you had globally, you had uranium mines under invest.

And this has taken about a decade and a couple of years now to play out.

But that uranium stock that was a competitor in the uranium spot market is largely gone and sold out.

These countries in Europe, some in Europe and in Japan, are reopening some of these previously closed nuclear power plants and talking about growing actually their nuclear power generation capacity.

And you've had, you know, call it a decade of underinvestment in the mining category.

The other issue with uranium is that because it's

you know, a fuel stock also for, or an input for nuclear weapons.

It's very heavily sort of monitored on a global basis.

You can't just kind of go in your backyard and dig up a bunch of uranium.

It's very like heavily licensed and monitored.