Scott Nolan

It's still under the ground, so we can start going after it, and companies are.

So there's new mining projects in at least Texas and Wyoming.

that came online starting last year and are ramping this year.

So we're going to see more uranium production in the US.

Some countries do have better ore deposits than the US, really high ore deposits.

So as you go and mine, it can be really easy to get the uranium that you need.

So it can still make sense to trade with other countries if they can produce much cheaper than we can.

But we have

really large deposits that can take care of what we need for a while.

And so I think we're going to see that production come online.

How big are our deposits compared to Russia or China?

Let's see.

Compared to places like Australia, Canada, Kazakhstan, Russia gets most of its uranium out of Kazakhstan.

Our deposits are not as good as theirs on uranium, but still years and years of production capacity.

And so if we're even producing a fraction, mining a fraction of what we need, we're talking decades of potential production in the US.

And I think it's similar to oil, where

People thought that we were at peak oil at one point and then you discover new ways to find more.

So discovery technologies get better, extraction technologies get better.

Even these new technologies in mining are an example of that, where some of the deposits people are going after now are not really ore-rich deposits, but through new techniques like in-situ recovery, where you do the pumping and then extraction out of the ground with no standard mining equipment, no digging, no open pits, much more self-contained and no uranium released in the process.

You can do that much cheaper.