Why it’s on the map
Largest US ISR uranium producer; Burke Hollow producing (Apr 2026); NRC docketing for a US conversion facility — direct beneficiary if Port Hope becomes a bargaining chip.
Government money & contracts
No verifiable 2026 federal contract.
Customers & commercial
US utilities.
Catalysts
FY results Sept 23.
Risk
Unprofitable; Canadian assets; -9% Aug 28.
Tariff durability
Threat-premium play (uranium exempt today).