In this exclusive interview, Grant Isaac, President and COO of Cameco, shares deep insights into the uranium market and the future of nuclear energy. He explains why nuclear power is becoming more critical in a world of geopolitical instability, how long-term uranium contracting is evolving, and why many investors misunderstand the spot market. The discussion covers rising global demand driven by countries like India and China, supply constraints, pricing dynamics, and why utilities may be underestimating future uranium shortages. Grant also breaks down Cameco’s disciplined strategy, the role of nuclear in energy security, and what needs to happen for new uranium supply to come online. This is a must-watch for anyone interested in uranium investing, nuclear energy trends, and the long-term outlook for the global energy transition.

🗓️ Recording date: April 2, 2026

📖 Chapters
0:00 Intro
1:22 – Iran War & Strait of Hormuz Impact on Uranium
3:25 – Why Nuclear Energy Is Resilient in Crisis
4:29 – Cameco’s Major Uranium Deal With India
7:46 – Long-Term Contracting Strategy Explained
10:56 – Why Utilities Are Slow to Contract
13:02 – Uranium Pricing: Floors, Ceilings & Market Dynamics
16:48 – Are Utilities Already Pricing $100+ Uranium?
18:54 – Why Spot Market Exposure Is Risky
22:52 – How the Uranium Spot Market Really Works
26:30 – Why Uranium Prices Are “Reported,” Not Discovered
30:31 – Cameco as Both Buyer & Seller of Uranium
33:56 – The Global Uranium Supply Gap
36:52 – Cameco Production Growth & Supply Discipline
39:33 – MacArthur River & Future Capacity
42:03 – Cameco’s Nuclear Strategy & Westinghouse
46:48 – M&A Strategy & Why They Avoid Overpaying
49:40 – What to Expect Next