Uranium Surging: Nick Interviews Energy Secretary

The coronavirus has taken 50% of global uranium production offline... The coronavirus has taken 50% of global uranium production offline... Nick Hodge sits down with Former Energy Secretary Spencer Abraham to discuss uranium the wake of the Nuclear Fuel Working Group report. [Outsider Club logo] Uranium Surging: Nick Interviews Energy Secretary [Nick Hodge Photo] By [Nick Hodge]( Written May 06, 2020 Publisher's Note: I had the honor once again of getting access to former U.S. Energy Secretary Spencer Abraham. This comes in the wake of the Nuclear Fuel Working Group's report to President Trump that included, among many other things, direct purchases from U.S. uranium producers to create a National Uranium Reserve. Currently, the U.S. produces zero uranium. So today, right now, is the ground floor. Spencer is also the chairman of Uranium Energy Corp. (NYSE: UEC), one of only a few companies capable of producing American uranium. This is all extremely timely considering that the coronavirus has taken some 50% of global uranium production offline. As oil prices have collapsed, uranium prices are surging. [More info on all this here.]( Enjoy the interview. —Nick --------------------------------------------------------------- Nick Hodge: We’ve witnessed a historic event for the U.S. Nuclear Energy Industry with the recent release of a Department of Energy report and recommendation to revitalize our uranium mining and nuclear power infrastructure in the U.S., including a $1.5 billion proposed budget to establish a National Uranium Reserve, similar to the strategic petroleum reserve. As a former U.S. Energy Secretary, how far do you think the actions outlined in the recent DOE report go toward achieving the President’s vision of a vibrant and self- sustaining U.S. nuclear energy industry for both defense and commercial needs? Spencer Abraham: The decisions and the proposed $1.5 billion National Uranium Reserve are indeed historic and go a long way toward addressing America’s vulnerability to foreign imports of critical parts of the nuclear fuel cycle. Once they are translated into action, we will definitely see the U.S. uranium production sector revitalized. [spencer abraham] The Nuclear Fuel Working Group report outlines a sound, strategic framework that will re-establish the infrastructure America needs to support our long-term nuclear defense needs, critical for our national security. [$317 Million: And That’s Just for Starters…]( The 2018 Congressional spending bill put a record amount of money into “emergency” laser technology... Why? Because they’re trying to protect America from a new “Death Star” high-powered laser being built by China. The Pentagon has hired Northrop Grumman and Lockheed Martin to build America a weapon that can counter this threat. But there’s a big problem — neither of these companies has the technology to produce the laser crystal diodes they need. I’ve found the only laser defense firm in the world (outside of China) that can build these crystal diodes (and early investors in this small company will retire early). [Click here for the full story.]( The commercial sector should also benefit from actions put into place, that will in time, reduce America’s overdependence on foreign imports from Russia and other former Soviet Union (FSU) countries that distort free market pricing. America’s current lack of a viable nuclear fuel supply chain exposes a vulnerability to other countries’ actions that are not always aligned with U.S. interests. This is an unacceptable position for our long-term security. The predatory market threats from State-Owned-Enterprises (SOEs) must be stopped or the U.S. risks serious exposure to trade actions that can cause serious disruptions to American prosperity and our way of life. Nick Hodge: How long would it take, starting from zero, for the U.S. to become essentially self-sufficient in uranium production like it's done with oil? Spencer Abraham: The Uranium Producers of America polled its members as to the incentive cost of production, capital requirements, human resources, and the status of permitted and licensed projects that can be developed or restarted. The poll revealed, with sufficient incentive pricing, the domestic uranium industry could ramp back up to 20 million pounds of annual U3O8 production within 10 years. While this does not reach the 47 million pounds of average annual U.S. commercial reactor requirements, there are no technical limits to produce higher quantities. The United States Geological Survey estimates that over 2 billion pounds of uranium resources are either known, or likely to be discovered, in the United States. It should be recognized that not all U.S. mines are equal with respect to production costs, and some, like Uranium Energy Corp's fully permitted in-situ recovery (ISR) mines, will have a distinct advantage over higher-cost conventional mines. Nick Hodge: The report makes frequent mention of small modular reactors. How do they fit, in your view, into America's clean energy future? Spencer Abraham: Small Modular Reactors (SMRs) are going to play an important role in America’s future for the highly reliable, carbon-free energy that nuclear power provides. The safe and effective deployment of SMRs in our fleet of aircraft carriers and submarines since the 1950s has proven the U.S. leadership and proficiency in this technology. We have seen recent bipartisan legislation pass the U.S. Congress, providing support for these innovative and advanced reactors. SMRs are typically small 50-100 MWe reactors that can be built in a factory, shipped, and installed on-site in a scalable fashion. In addition to the clean energy and carbon-free benefits, shorter construction times, lower upfront capital, and faster return on investment will make them an attractive option for energy planners. The U.S. military is also committed to the deployment of micro-reactors at foreign military bases to avoid dependence on unreliable local grids and reduce the amount of vulnerable fuel oil convoys in active conflict zones. Uranium Energy Corp. (UEC) believes the use of this technology will continue to grow and will be a robust component of expanding uranium demand. Nick Hodge: How important is it for this technology and the fuel to be American-made, in the context of our current reliance on foreign nations for fuel and the sensitivities around security for the entire nuclear supply chain? Spencer Abraham: The COVID-19 crisis has highlighted the importance of supply chain security with respect to essential components. U.S. national security is threatened with over reliance on foreign supply sources for many critical materials necessary for our economy and our defense systems. Uranium is an essential critical mineral and is needed to maintain our electricity grid since 20% of our power supply comes from America’s 95 operating reactors. We have an additional 108 reactors in our fleet of 84 aircraft carriers and submarines that must, by international treaty, run on 100% domestic uranium fuel. [Gold Industry Insider Reveals His Big Secret]( The elite traders in the gold industry are not buying gold for $1,600+ like the rest of us. They are using [this secret loophole]( to buy up gold at a staggering 98% discount. Now one of the top advisors in the industry finally spills the beans and reveals how you too can get your hands on gold for as low as $8.10 per ounce. The profit potential is huge — [click here to discover how you can take advantage today!]( Our overdependence on FSU countries’ nuclear fuel supply has hampered U.S. policy objectives. In this regard, our nuclear fuel supply from Russia hamstrings the Administration’s ability to impose sanctions on Russia for their support of Iran’s nuclear enrichment program that could easily be weaponized against the U.S. or our allies. Also, underscoring the risk to our supply chain, more than 50% of global uranium production is currently shut down due to the coronavirus pandemic and there is no production currently in North America. We simply cannot remain dependent on FSU countries and others to be our source of supply for something as critical as our nuclear fuel supplies. Nick Hodge: As the Chairman of Uranium Energy Corp., what does this mean for the future of uranium mining in America? Spencer Abraham: If the President’s plan is implemented it means a positive and successful future for companies like UEC. The U.S. has the people and the resources to make a significant contribution to the nuclear energy industry and UEC is well positioned to be a major contributor in a resurgence of domestic production. UEC presently has four fully permitted ISR uranium projects in the United States with a four-million-pound-per-year production profile that can play a central role in the President’s American uranium revitalization plan. UEC has existing infrastructure and proven production at Palangana and Hobson in South Texas that is ready for restart and scalable for growth with our hub-and-spoke strategy. At our newest mine, Burke Hollow began development last year and when completed, will be a satellite operation to our Hobson processing plant. And in Wyoming, we have been consolidating and advancing our fully permitted Reno Creek project, which represents the largest, permitted, pre-development ISR mine in the U.S. Nick Hodge: As a former Senator and Secretary of Energy, what does this mean for America? Spencer Abraham: It means one less thing to worry about for our national security leaders. However, the program needs to be implemented now to preserve an industry that has been decimated with SOEs' predatory market behavior. The U.S. nuclear fuel supply chain is competitive in free market economies but cannot compete with SOEs that are supported by foreign governments. The sooner we implement the strategy, the sooner we can put the mining industry back to work and the sooner we can end the over reliance on SOE supply from countries that are not always aligned with our interests. The Trump Administration’s NFWG report is titled Restoring America’s Competitive Nuclear Energy Advantage and highlights another focus of this groundbreaking nuclear energy policy – restoring American nuclear export competitiveness. [The “Tesla Killer” Launches 90,900% Market Surge]( I’m here, 3,000 miles from home in Long Beach, California. This industrial suburb looks nothing like Silicon Valley, but recently it’s become the epicenter of an explosive new technology. One that’s taking the $2.5 trillion electric vehicle market by storm. It charges in just minutes — not hours. It’s 100% emissions-free, costs next to nothing, and involves no fossil fuels. It NEVER dies — and can recharge forever. The only thing it emits is pure, clean water. [This is why experts call this technology the “Tesla Killer.”]( It was not that long ago that U.S. uranium mines led global production and U.S. companies like GE and Westinghouse were selling and constructing nuclear power plants all around the world. Today this leadership position is occupied by Russia and China. What is important at this stage is for the Administration and Congress to come together, in a bipartisan fashion, to implement the policy recommendations of this energy and national security plan. As this occurs, UEC stands ready to restart and expand our low-cost, environmentally-friendly production from our U.S. ISR projects. Nick Hodge: Thanks. This has been great. --------------------------------------------------------------- While many commodities are getting hammered, uranium has been surging higher in the face of COVID-19. With uranium mines shut down worldwide, and now decisive policy guidance from the Trump administration, uranium prices have quickly risen to levels not seen since 2016. And uranium stocks are starting to move too. [I have more information on all this for you here.]( Call it like you see it, [Nick Hodge Signature] Nick Hodge [[follow basic]@nickchodge on Twitter]( Nick is the founder and president of the [Outsider Club](, and the investment director of the thousands-strong stock advisories, [Early Advantage]( and [Wall Street's Underground Profits](. He also heads [Nick’s Notebook](, a private placement and alert service that has raised tens of millions of dollars of investment capital for resource, energy, cannabis, and medical technology companies. Co-author of two best-selling investment books, including Energy Investing for Dummies, his insights have been shared on news programs and in magazines and newspapers around the world. For more on Nick, take a look at his editor's [page](. *Follow Outsider Club on [Facebook]( and [Twitter](. Enjoy reading this article? [Click here]( to like it and receive similar articles to read! Browse Our Archives [Gold Crushed It Last Month. It's About to Get Even Better.]( [New Gold Highs Are On the Way. Here's Why...]( [Mr. Dines: Here Comes One of the "Biggest Bull Markets In History"]( [Aliens? Really?]( [China's Top-Secret Laser Project]( --------------------------------------------------------------- This email was sent to {EMAIL}. It is not our intention to send email to anyone who doesn't want it. If you're not sure why you've received this e-letter, or no longer wish to receive it, you may [unsubscribe here](, and view our privacy policy and information on how to manage your subscription. To ensure that you receive future issues of Outsider Club, please add newsletter@outsiderclub.com to your address book or whitelist within your spam settings. For customer service questions or issues, please contact us for assistance. [Outsider Club](, Copyright © 2020, [Angel Publishing LLC]( & Outsider Club LLC, 304 W Pacific Avenue, Suite 210 Spokane, WA 99201. For Customer Service, please call (877) 303-4529. All rights reserved. [View our privacy policy here.]( No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned. Angel Publishing and Outsider Club does not provide individual investment counseling, act as an investment advisor, or individually advocate the purchase or sale of any security or investment. Subscribers should not view this publication as offering personalized legal or investment counseling. Investments recommended in this publication should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company in question. This letter is not intended to meet your specific individual investment needs and it is not tailored to your personal financial situation. Nothing contained herein constitutes, is intended, or deemed to be – either implied or otherwise – investment advice. Neither the publisher nor the editors are registered investment advisors. This letter reflects the personal views and opinions of Nick Hodge and that is all it purports to be. While the information herein is believed to be accurate and reliable it is not guaranteed or implied to be so. Neither Nick Hodge, nor anyone else, accepts any responsibility, or assumes any liability, whatsoever, for any direct, indirect or consequential loss arising from the use of the information in this letter. The information contained herein is subject to change without notice, may become outdated and may not be updated. Nick Hodge, entities that he controls, family, friends, employees, associates, and others may have positions in securities mentioned, or discussed, in this letter. No part of this letter/article may be reproduced, copied, emailed, faxed, or distributed (in any form) without the express written permission of Nick Hodge or the Outsider Club. Unauthorized reproduction of this newsletter or its contents by Xerography, facsimile, or any other means is illegal and punishable by law.