Expert Jennetta on the real truth of the global uranium market
March 27, 2018 – “The current truth of the uranium market is, it is an incredibly tough space. It is incredibly misunderstood. For the average investor trying to find out exactly what is going on is like a needle in a haystack. It is hard.” states Andrea Jennetta, President and Founder of International Nuclear Associates Inc., in an interview with InvestorIntel’s Peter Clausi.
Peter Clausi: You are one of the global uranium experts on the real market, not on all the noise around the market.
Andrea Jennetta: That is correct.
Peter Clausi: How did you get to be here?
Andrea Jennetta: I got to be here by hook, by crook, by clawing, by scraping, by starting my own company, having my own vision and wanting to tell the truth about the uranium market, good, bad, ugly.
Peter Clausi: What is your current truth in the uranium market?
Andrea Jennetta: The current truth of the uranium market is it is an incredibly tough space. It is incredibly misunderstood. For the average investor trying to find out exactly what is going on is like a needle in a haystack. It is hard.
Peter Clausi: Earlier this week Kazakhstan was here at PDAC talking about supplying the Chinese with as much uranium as China wants. What is your take on that?
Andrea Jennetta: China is Kazatomprom’s number one customer. When we talk about Kazakhstan we need to understand the difference between Kazatomprom . . .
Peter Clausi: Which is the government owned agency.
Andrea Jennetta: That is right; and the country. The country itself is the leading producer of uranium in the world. It has several mining operations, most of which are run and managed with western companies, except for Uranium One, which is now owned by the Russians. Cameco is in there. Kazatomprom itself . . .
Peter Clausi: The difference between the country and the marketing arm
Andrea Jennetta: Yes, I think that is very important. With respect to a marketing arm they do not have one. That is a myth. China is their biggest customer. Most of the material that Kazatomprom is entitled to through these joint ventures goes to China.
Peter Clausi: Kazakhstan number one. Who is number two?
Andrea Jennetta: That would be Canada.
Peter Clausi: What is happening in Canada? Go Canada, Cigar Lake!
Andrea Jennetta: What is happening in Canada is incredibly interesting and perhaps, dare I say it, possibly risky.
Peter Clausi: How so?
Andrea Jennetta: Risk is not a word that you normally associate with Cameco. However, Cameco decided in November 2017 to shut down McArthur River thereby taking 18 million pounds out of the market immediately. They want to get prices higher. The only way to get prices higher is to take away demand…to access the complete interview, click here