@Wally Fairway Earlier this week, U.S. Energy Secretary Jennifer Granholm made public that she was encouraging Congress to ban uranium supplies from Russia. Granholm said that she would allow, if legislators would go there, for more funding for the domestic development of fuel for "next generation" nuclear reactors. The House has already passed a bill banning Russian uranium. The bill has been caught up in the Senate. It's incredible to even consider that we as a nation might still be importing uranium from Russia
As I posted several months ago, in late December, Energy Fuels (UUUU) announced that is has commenced production at three mines. During the third-quarter earnings' discussion, management indicated that it was hiring personnel and upgrading facilities at four additional mines with plans to restart production at one or two of the mines in 2024. Management also indicated that it plans to produce 1,000,000 lbs of uranium in 2024 and stockpile the uranium.
UUUU’s decision to ramp-up uranium production was driven by strengthening spot and long-term uranium prices, increased buying interest from U.S. nuclear utilities, U.S. and global government policies supporting nuclear energy to address global climate change, and the need to reduce U.S. reliance on Russian and Russian-controlled uranium and nuclear fuel.
Stay the course.