The whole fuel chain
Separating reactor demand, the fuel supply chain and the economics of individual uranium businesses.
Owners and operators of U.S. civilian reactors took delivery of 46.9 million pounds of uranium in 2025 at a weighted-average price of US$58.46 per pound; 32% of it came from Canada, the largest single source, and only 7% was mined in the United States [1]. That is the demand side of a thesis. The supply side — mining, conversion, enrichment, contracts — is where the research actually lives.
Research brief / Uranium & Nuclear
Uranium One Mining's June balance sheet — C$2.87 million of cash, C$3.52 million of working capital and C$6.80 million of capitalized…
Research primer / Uranium & Nuclear
Nearly a third of the uranium delivered to U.S. reactors in 2025 came from Canada, and only 7% was mined at home.
Research primer / Critical Minerals
Washington put 60 minerals on its critical list in November 2025 and Ottawa keeps 34 on its own.
Research brief / Uranium & Nuclear
Cameco sold uranium for US$66.21 a pound in the first quarter of 2026 while spot sat above US$84.
Uranium One Mining is a British Columbia company renamed from Vanguard Mining effective April 27, 2026, with a lineage running back through Recharge…
Canadian dollars. Balance-sheet figures are dated June 30, 2026 and cash has since been spent; the proposed 27.06-million-share acquisition is not reflected in the share count.
Cameco mines uranium in northern Saskatchewan, runs a fuel services segment, and owns 49% of Westinghouse Electric Company, the reactor-services and…
Figures are in Canadian dollars unless marked US$. Quarterly figures are for the three months ended June 30, 2026 from the Q2 2026 news release and MD&A; annual figures are from the 2025 fourth-quarter release. Adjusted net earnings and adjusted EBITDA are management's non-IFRS measures. Blank means not yet verified, never zero.
NexGen Energy owns 100% of the Rook I project in the southwestern Athabasca Basin of northern Saskatchewan, about 155 km north of La Loche, and is…
Figures are in Canadian dollars unless marked US$ or A$, from the condensed interim financial statements and MD&A for the six months ended June 30, 2026 (filed on EDGAR under Form 6-K on August 5, 2026). Resource and reserve figures are from the 2021 feasibility study as restated in that MD&A. Blank means not yet verified, never zero.
The record
Policy / Uranium & Nuclear
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.
Filing / Uranium & Nuclear
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.
Results / Uranium & Nuclear
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.
Data / Uranium & Nuclear
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.
Deal / Uranium & Nuclear
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.
Data & documents
Use the current releases linked below. We do not display live market data, and a source directory is never a verified data snapshot.
Deliveries, prices and country of origin for uranium purchased by U.S. civilian reactor owners and operators.
Reference for Canadian production and the fuel chain.
