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Red Cloud releases $175 uranium price target

Red Cloud is bullish for uranium.

The company this week released a revised report for the sector as a whole, identifying that the uranium sector has shown significant price appreciation and positive momentum, indicating a promising outlook for nuclear power and small modular reactors.

The report highlights various factors contributing to this surge, including proactive government policies, increased public acceptance, improved economics, climate change concerns, and the need for a secure supply. These factors have collectively driven additional demand for uranium, resulting in a remarkable 110% increase in prices since the beginning of 2023, reaching US$101/lb U3O8.

You can read more on the matter here.

What’s going on?

• New Poll Sees Liberals Getting Blown Out Of Water (theDeepDive)

• US Consumer Prices Increase 0.3% In January, With Annual Inflation At 3.1% (theDeepDive)

• Senate Passes $95.3 Billion Ukraine, Israel Aid Package (WSJ)

• Is Elon Musk Quietly Shutting Down X’s Ad Revenue Sharing?(theDeepDive)

• Canada Pension With $122 Billion Opens NYC Office in Credit Push (Bloomberg)

• Texas Might Have To Build Gas Power Plants Themselves If Investors Don’t Says Lt Gov Dan Patrick (theDeepDive)

• New Yorkers voting to replace ex-Rep. George Santos in crucial special election (CNBC)

• Satellite Images Reveal Venezuela’s Military Build-Up on Guyana Border (theDeepDive)

• U.S. Proposes Requiring Investment Advisers to Put in Place Anti-Money-Laundering Controls (WSJ)

• Minister was warned lifting international student work limit could undermine program (BNN)

• 30 Year Mortgages: Home Builders Association Wants To Make Borrowing Easier (theDeepDive)

What’s the latest?

• US CPI: Annual inflation in the United States showed signs of cooling last month but remained high, with the consumer price index rising 0.3% from December to January and annual prices up by 3.1%, compared to the peak of 9.1% in mid-2022. Core inflation, excluding food and energy, rose to 0.4% last month, indicating a gradual reduction in inflation rates.

• Pre-Sale Lawsuit: A B.C. Supreme Court judge has mandated Richmond developer Anderson Square Holdings Ltd. to compensate nearly $13.1 million to over 30 prospective condo buyers. The company, led by directors Sunny Ho and Jeremy Liang, unjustly terminated contracts from July 2019 for pre-sale units in a development project, then resold these units at higher prices.

• More Layoffs: Cascades has announced the closure of three of its containerboard operations, impacting 310 employees due to a mix of market conditions, high operating costs, outdated technology, and the need for significant capital investment. The affected facilities include a corrugated medium mill in Trenton, Ontario, which is currently idle, and converting plants in Belleville, Ontario, and Newtown, Connecticut, all slated to close by May 31.

• Geopolitics: Estonia's Prime Minister Kaja Kallas has been placed on a wanted list in Russia, a move reportedly linked to her actions in removing Soviet-era Second World War monuments in Estonia. This action by Russia has heightened tensions between the country and the West, especially amid the ongoing conflict in Ukraine. The exact charges Kallas faces remain unspecified.

• Immigration Warnings: Public servants in 2022 cautioned the federal government against waiving the 20-hour work week limit for international students, fearing it could distract them from their studies and undermine temporary foreign worker programs. Despite these concerns, the Liberal government lifted the restriction to address labor shortages, initially until the end of 2023, and later extended it until April 30, 2024. The change was aimed at easing the labor market's strain, with more than 900,000 foreign students in Canada.

Global demand for nuclear energy

The stock market and stuff

• Shopify Reports “Strong” Quarterly Results Despite Stock Dip (theDeepDive)

• Hasbro reports 20% revenue drop, issues downbeat 2024 outlook (CNBC)

• Paramount Global Cuts 800 Jobs Days After Record Super Bowl (Bloomberg)

• The Battle for Bitcoin Founder: Trial Begins to Determine the True Identity of Satoshi Nakamoto (theDeepDive)

• JetBlue shares soar after Icahn takes 10% stake in airline (Reuters)

• Coca-Cola sales beat estimates, helped by higher prices (CNBC)

In the juniors

• First Phosphate Successfully Creates Battery-Grade Purified Phosphoric Acid From Concentrate (theDeepDive)

• Nevada King To Spin Out Nevada Land Claims, Atlanta Mine Royalty (theDeepDive)

• Power Nickel Intersects 0.62% Nickel, 0.63% Copper Over 12.7 Metres (theDeepDive)

• Alaska Energy Metals Reports Over 8 Billion Pounds Nickel Content In New Resource Estimate (theDeepDive)

FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.