Uranium Week: Gates And Buffett Combine On Nuclear

Weekly Reports | Jun 08 2021

As the uranium spot price rises for the fifth consecutive week, advanced nuclear technologies in the US are pointing the way to energy grids of the future

-Next generation small advanced reactor project
-Paladin Energy expands shareholder base
-Uranium spot price rises by 1.9% for the week and 5% for 2021

By Mark Woodruff

Warren Buffett’s power company Pacific Corp, and TerraPower, founded by Bill Gates 15 years ago, have collaborated on a plan to launch a next-generation, small nuclear plant in the US.

TerraPower, Wyoming Governor Mark Gordon, and PacifiCorp announced plans last week to advance a Natrium reactor demonstration project which will feature a sodium reactor and molten salt energy storage system. The plant will take about seven years to build and is expected to perform better, be safer and cost less than traditional nuclear power, according to TerraPower’s chairman Bill Gates.

“The future of nuclear energy is here,” US Energy Secretary Jennifer Granholm said by video link. “It’s got a simpler design that will hopefully result in faster construction at lower cost. It’s going to create a smaller footprint. It’s going to be equipped with next generation safety measures.”

If it’s as reliable as conventional nuclear power, the 345-megawatt plant would likely produce enough power for approximately 250,000 homes.

Small advanced reactors, which run on more highly enriched fuels to traditional reactors, are regarded by some as a critical carbon-free technology than can supplement intermittent power sources like wind and solar.

Together with PacifiCorp, we’re creating the energy grid of the future where advanced nuclear technologies provide good-paying jobs and clean energy for years to come,” said Chris Levesque, president and CEO of TerraPower. 

Company news

ASX-listed Paladin Energy ((PDN)) has announced its upgrade from trading on the Pink Market to the (over the counter) OTCQX Best Market in the US. Trading commenced on the OTCQX market on June 2, 2021. The company will continue to have its primary listing on the ASX. 

Trading of Paladin Energy shares on the OTCQX allows the company to access new capital and to expand its shareholder base in the US, without the duplicative regulatory requirements of a US exchange listing.

The OTCQX market also allows for greater access to retail and small institutional investors, with investors being able to trade and settle in US hours and US dollars, allowing for greater visibility and accessibility of the company.

Uranium pricing 

TradeTech’s Weekly Spot Price Indicator is US$32.00/lb, up US$0.60 on last week’s Indicator.

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