Podcast #32: Brandon Munro - Uranium
33m
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L2 Capital
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In today's episode, Marcelo López spoke to Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia. Brandon, who has participated in L2 Capital's Podcasts # 05, # 14 and # 18, returned to discuss the Russian Suspension Agreement (RSA), the Iran waivers and the outcome of the Nuclear Fuel Working Group (NFWG).
Munro starts by explaining what the Russian Suspension Agreement (RSA) is in a very clear and objective way. Then, when asked about a potential disruption in the supply of nuclear fuel to the US due to this suspension as early as 2021, Brandon explains what can be done to mitigate this situation.
He also discusses the Corfu Declaration, an agreement similar to the RSA, but in Europe, and its practical effects. Through this Declaration, Russia would be unable to supply more than 20% of Europe’s enriched uranium demand.
Brandon explains how global regulation and control of uranium is carried out in the context of the global nuclear fuel supply chain, as uranium can be mined in Australia, converted and enriched in Russia, produced as a fuel in Sweden and be used in an American reactor.
Brandon comments on the situation in Iran, the agreement signed by President Obama, the US discontentment and subsequent withdrawal from that agreement, on the waivers granted to some companies, the recent withdrawal of three of these waivers and the consequences this could have.
Munro also talks about the release of the Nuclear Fuel Working Group (NFWG) report at the end of April, its main points, the consequences for the global nuclear industry and, specifically, for the USA.
Finally, Brandon and Marcelo discuss Cigar Lake, the Cameco mine whose production was suspended this year, the movement in Port Hope and the difficulties that traders are facing to find uranium in the midst of this bull market.
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Podcast #34: Brandon Munro - Uranium
In today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia.
Brandon, a frequent participant in the L2 Capital podcasts, returned to discuss important topics such as the restart of the Cigar Lake mine, the 20% cut in Kazatomprom's estimated production for 2022, the World Nuclear Association (WNA) Symposium, the latest developments in the spot market, the situation in Iran at the moment and the latest news from Bannerman Resources.
Marcelo had already mentioned in the last podcast recorded with Munro, in early June, that he expected the production of Cigar Lake to return this year and Brandon starts talking about the stock market's response to Cameco's announcement. The reopening procedures of the mine that had been closed due to the pandemic are due to start in September.
Brandon also discusses the decision of Kazatomprom, the world's largest uranium miner, to reduce the estimated production of the metal by 20% in 2022 and the importance of this attitude for the market. Munro talks about the consequences of this and the possible repercussions for the coming years.
He comments on the uranium spot market, the main factors that are affecting the price at the moment and how real investors are reacting.
Brandon explains that the WNA (World Nuclear Association) Symposium will be virtual this year and discusses what the implications will be for nuclear fuel buyers and sellers.
Munro also talks about the Iran sanctions waivers, which end on August 27, and what the United States are doing about it.
Finally, Brandon talks about the changes at Bannerman Resources and how it can affect the company and investors' view of it.