Sector · 11 names
Developers
Companies with a defined deposit, building or seeking permission and money to build a mine. The next wave of supply.
What matters here
Price to NAV, and whether they can reach production without drowning shareholders. Developers usually trade at 0.5-0.8x NAV; NexGen and Denison are at roughly 1x, so the licensing win is already paid for. For the rest: cash runway, financing plan and dilution. Deep Yellow just deferred its decision because equity markets are weak.
Every name in the sector, total return
Total return in USD, on a log scale · grey is physical uranium (U.U)
