How The U.S. Government's Nuclear Announcements Are Shaping the Industry

Now, switching gears a bit, Steve. Nuclear energy is also getting attention as the US government announced an $80 billion dollar partnership, which is being called one of the most ambitious plans in US atomic energy in decades. What impact will this have on the outlook for nuclear energy?

Yeah, this is another instance of the government moving past rhetoric and starting to move to action. It's a very significant investment where we see the US government looking to take this $80 billion investment with Westinghouse, which is owned by Kamico, which is the largest uranium miner in the world by market cap, and with Brookfield.

So this is a joint venture where the US government can not only finance and work through the permitting process to bring nuclear reactors to the United States through the Westinghouse technology, but it also can convert to an equity stake as there's a profit sharing incentive in there as well.

So, not only do taxpayers have a potential benefit from increased nuclear energy capacity, the government gets it through energy security, but this equity stake, or the potential for an equity stake, is also in there to limit taxpayer involvement or risk as it relates to some of these stakes. It's different than what we've seen in the past where we've seen the government through various grants just provide funding. The equity stake is really a move we're starting to