Podcast #34: Brandon Munro - Uranium

L2 Capital

In today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia.

Brandon, a frequent participant in the L2 Capital podcasts, returned to discuss important topics such as the restart of the Cigar Lake mine, the 20% cut in Kazatomprom's estimated production for 2022, the World Nuclear Association (WNA) Symposium, the latest developments in the spot market, the situation in Iran at the moment and the latest news from Bannerman Resources.

Marcelo had already mentioned in the last podcast recorded with Munro, in early June, that he expected the production of Cigar Lake to return this year and Brandon starts talking about the stock market's response to Cameco's announcement. The reopening procedures of the mine that had been closed due to the pandemic are due to start in September.

Brandon also discusses the decision of Kazatomprom, the world's largest uranium miner, to reduce the estimated production of the metal by 20% in 2022 and the importance of this attitude for the market. Munro talks about the consequences of this and the possible repercussions for the coming years.

He comments on the uranium spot market, the main factors that are affecting the price at the moment and how real investors are reacting.

Brandon explains that the WNA (World Nuclear Association) Symposium will be virtual this year and discusses what the implications will be for nuclear fuel buyers and sellers.

Munro also talks about the Iran sanctions waivers, which end on August 27, and what the United States are doing about it.

Finally, Brandon talks about the changes at Bannerman Resources and how it can affect the company and investors' view of it.