Grant Isaac
President & COO, Cameco
“Long-term contracting levels remain below replacement rates.”
“We constantly react to what the market gives us.”
“We still don't have utilities coming forward and collectively buying at a volume that replaces what they consume under existing contracts. Yet we found ourselves back into a mid-'90s long-term uranium price on its way to three digits likely.”
“This is really super constructive for the uranium space that on very little demand that underlying long-term price continues to go up.”
“Market-related contracts now where floor prices are in the high 70s escalated and where ceiling prices are 160 escalated.”
Grant Isaac
One-line summary: Cameco President & COO; on the Q1 2026 call framed uranium long-term contracting as still below replacement rates and the US as an 'electron super cycle' (up to 20 AP1000s).
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Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
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On kazatomprom-supply-cut-to-western-uranium-premium, nuclear-baseload-for-ai-data-centers:
"Long-term contracting levels remain below replacement rates." — 2026-05-05-earnings-ccj-q1-2026 (2026-05-05)
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On kazatomprom-supply-cut-to-western-uranium-premium:
"We constantly react to what the market gives us." — 2026-05-05-earnings-ccj-q1-2026 (2026-05-05)
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On kazatomprom-supply-cut-to-western-uranium-premium:
"We still don't have utilities coming forward and collectively buying at a volume that replaces what they consume under existing contracts. Yet we found ourselves back into a mid-'90s long-term uranium price on its way to three digits likely." — 2026-07-31-earnings-ccj-q2-fy2026 (2026-07-31)
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On kazatomprom-supply-cut-to-western-uranium-premium:
"This is really super constructive for the uranium space that on very little demand that underlying long-term price continues to go up." — 2026-07-31-earnings-ccj-q2-fy2026 (2026-07-31)
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On kazatomprom-supply-cut-to-western-uranium-premium:
"Market-related contracts now where floor prices are in the high 70s escalated and where ceiling prices are 160 escalated." — 2026-07-31-earnings-ccj-q2-fy2026 (2026-07-31)
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