Uranium legend Dustin Garrow (50 yrs exp) joins us to unpack Trump 2.0’s nuclear push: uranium now a US critical mineral, $80B Cameco-Westinghouse deal (10 reactors, Middle East/Japan/Korea funding), “Nuclear Future Shock” from data centers & SMRs, WNA’s “monumental” 2030–2040 supply gap, Russian ban hitting in 7 weeks, spot market stabilizing at 50–55M lbs, utilities facing 20M lbs/yr unfilled by 2030, Sprott + Yellow Cake hoarding 90M lbs, and why greenfield projects (Deep Yellow, Bannerman, Denison) are the only path to 390–530M lbs demand by 2040.

🗓️ Recording date: November 10, 2025

📖 Chapters
1:00 – Intro: Dustin Garrow (50 yrs exp) joins
1:29 – Uranium = US critical mineral under Trump
2:05 – $80B Cameco-Westinghouse: 10 reactors, foreign cash
3:33 – “Nuclear Future Shock”: data centers, SMRs, gaps
5:41 – WNA: “monumental” uranium gap
8:14 – US gov fast-tracks nuclear permits
8:57 – Russia ban in 7 weeks; utilities dropping
11:48 – Spot settles 50–55 M lbs
13:30 – Borrowing won’t break models
18:35 – No more excess inventory
21:14 – 2026 utility buying surge
23:35 – Term deals at $88–90 fixed
26:09 – Sprott + Yellow Cake: 90 M lbs locked
28:17 – Greenfields: last big one 2016
30:35 – 2030 players: Deep Yellow, Bannerman, Denison
36:08 – WNA 2040: 390–530 M lbs needed
38:20 – Utilities must pay up
39:00 – Closing: “Future shock”