Mart Wolbert: Uranium Bull Thesis Intact, “Half-time Break” Ending Soon
Mart Wolbert, analyst at Contrarian Codex, shared his latest thoughts on the uranium market, including what’s next for prices and key factors to watch when it comes to supply and demand.
When asked how far the current cycle has progressed, he said that in the context of his ‘stadium’ model, a concept he explained in a previous interview, uranium’s half-time break is almost over.
‘That’s not to say that we won’t have any water breaks in between as the equities pull back and go up. That’s just the nature of the market, it’s the nature of any market. Nothing goes up in a straight line,’ Wolbert said.
‘But I think that it’s very important to look at it in the grand scheme of things. And that is: we have another half to go, and the second half is going to be in my opinion far more exciting than the first as this contracting cycle comes in.’
He also discussed his key takeaways from the World Nuclear Symposium, highlighting how different sentiment is for retail investors versus companies and analysts involved in the uranium sector.
‘It’s absolutely incredible to see the discrepancy between that investor sentiment and just the sentiment of the mood in the room … from the producers, from the people that are very closely associated with all things nuclear, from the analysts that are doing thousands upon thousands of hours of work — they were all enthusiastic,’ Wolbert explained.
He acknowledged the frustrating performance of the uranium equities, but said he remains bullish.
‘The thesis — try as I might at the conference as well, I’ve tried to find a bear case, I’ve tried to really drag the thesis through the mud and try to find things where I could be wrong … but try as I might, I’ve not found a way to join the selloff right now, and I’m getting increasingly, increasingly bullish for what is still to come,’ Wolbert concluded.
Watch the interview above for more of his thoughts on uranium supply, demand and prices.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.