Jordan Trimble: The Value Proposition for Uranium is Now Stronger Than Ever

Jordan discusses the fallout from the Section 232 announcement in July. Investors were expecting quotas to be introduced, but that was deemed unnecessary. As a result, money that had entered the sector ended up selling off after the announcement.

The market pull-back has only improved the fundamentals. The sell-off is good for the sector as it has created a near term opportunity that investors should be watching.

For Jordan, the WNA Symposium felt more optimistic this year, and he discusses some key takeaways from their 2019 Nuclear Fuel Report. Demand projections for uranium are up across all scenarios, and on the supply side, there have been some notable cuts. Predictions are for an increasing supply deficit headed into 2020. Expiring contracts and the need for companies to buy from the spot market could send prices higher in the coming months.

Jurisdiction is a crucial part of the uranium market, and for Skyharbour, the Athabasca basin makes the most sense. It’s the highest grade deposit in the world, and it’s the only place where you would want to explore and develop a project right now. They are looking to delineate a high-grade resource, and Jordan discusses their exploration methods.

He recommends “No Guts, No Glory” by Lundin and “Never Rest on Your Ores: Building a Mining Company” by Norman B. Keevil. More recently he enjoyed a book called “Red Notice” by Bill Browder, which is about investing in Russia after the cold war.

Time Stamp References:
0:40 – Section 232 disappointed investors.
3:20 – Fundamentals are strong.
4:35 – WNA Symposium was more optimistic.
7:00 – What is driving the spot market.
10:30 – Why Canada is the best jurisdiction.
13:50 – Favorite books and authors.
16:15 – Good management and learning from experts.

Talking Points From This Week’s Episode
• Near term, catalysts could send prices higher.
• There aren’t many companies left in the space.
• Fundamentals and value proposition for uranium is strong.
• Bear markets bring the best opportunities.

Jordan Trimble is the President and Chief Executive Officer as well as a Director of Skyharbour Resources Ltd. By background, he is an entrepreneur and has worked in the resource industry in various roles with numerous companies specializing in management, corporate finance and strategy, shareholder communications, deal structuring, and capital raising. Previous to Skyharbour, he was the Corporate Development Manager for Bayfield Ventures, a gold company with projects in Ontario which was successfully acquired by New Gold (TSX: NGD) in 2014. Bayfield made a high-grade gold and silver discovery at its Burns Block property which is now a part of the producing Rainy River Mine.

Through his career, Mr. Trimble has founded and helped manage several public and private companies and has been instrumental in raising substantial amounts of capital for mining companies with his extensive network of institutional and retail investors. He is a frequent speaker at resource and mining conferences globally and has appeared on various media outlets including BNN and the Financial Post. Mr. Trimble holds a Bachelor of Science Degree with a Minor in Commerce from the University of British Columbia. He is a CFA® Charterholder currently serving as a Director of the CFA Society Vancouver.

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