Why it’s on the map
Only US-owned uranium enricher. Russian LEU ban + potential Canadian uranium leverage (Canada = 32% of US reactor uranium; Cameco's Port Hope is the only non-US conversion in N. America) make it indispensable.
Government money & contracts
DOE $900M task order (July 1, 2026) + $170M HALEU options = ~$1.07B; >1,900 kg HALEU delivered; 12 t/yr capacity by 2029.
Customers & commercial
DOE; US utilities.
Catalysts
Q3 early Nov; financing.
Risk
Fell 9.75% on Aug 28 (rates); ~60% off high; capital-intensive.
Tariff durability
Policy-backed; least Canada-exposed, most policy-backed uranium name.