Uranium Investment Thesis

Western uranium supply is structurally short. Production, conversion, and enrichment capacity outside hostile jurisdictions is the bottleneck.

Why now

Reactor construction commitments across the West have moved from rhetoric to budget. The supply side has not caught up. Conversion and enrichment capacity outside Russia is materially constrained, and primary production is concentrated in a small number of operators.

Where I focus

Primary production in tier-one jurisdictions
Conversion and enrichment capacity in NATO-aligned geographies
Operators with permitting and offtake credibility
Logistics and storage assets that serve the front end of the fuel cycle

https://niklaslindahl.com/thesis/strategic-resources/uranium