Desk notes
What happened, dated and sourced.
Short records of the things that move the research: a quarterly result, a deal, a policy decision, a data release, a market close. Each one cites the document it came from and says in a sentence why a U.S. reader should care. The briefs do the interpreting; the notes keep the record.
5 notes in Uranium & Nuclear
September 2026
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Policy / Uranium & Nuclear
U.S.–Korea framework contemplates eight large reactors on Westinghouse technology
Cameco, which owns 49% of Westinghouse, says the September 30 framework covers six AP1000 and up to two APR1400 units and that any Korean equity in Westinghouse would not change its own stake.
August 2026
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Filing / Uranium & Nuclear
NexGen filing dates Rook I construction start to June 8, cash C$756 million
A C$74.5 million quarterly profit is a fair-value swing on convertible debentures; the operative facts are the June 8 construction start, the unchanged ~C$2.2 billion capital estimate from August 2024, and 670.5 million shares outstanding.
July 2026
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Results / Uranium & Nuclear
Cameco's Q2 realized price rises 18% while production falls 15%
Second-quarter revenue of C$814 million and adjusted EBITDA of C$391 million came in below a year earlier on lower volumes; full-year production guidance of 19.5–21.5 million pounds was held, and Westinghouse filed a confidential draft S-1 the same day.
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Data / Uranium & Nuclear
Canada supplied 32% of U.S. reactor uranium in 2025, EIA reports
The Uranium Marketing Annual Report released July 29, 2026 puts 2025 deliveries at 46.9 million pounds at a weighted average of US$58.46 a pound, with long-term contracts priced far below spot.
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Deal / Uranium & Nuclear
Cameco lifts Cigar Lake stake to 57.4% as its partner's mill goes down
A 5% purchase closed on July 2 and a two-week acid-plant outage at Orano's McClean Lake mill ended on July 14, with Cameco's 2026 Cigar Lake outlook unchanged.