Uranium to keep running hot (and 4 ASX stocks to join the party)

Going back to mid-last year, Guy Keller – Portfolio Manager for the Tribeca Nuclear Energy Opportunities Fund – has nailed the uranium trade. 

I don't say that lightly. Nobody likes a gloater and we're not about pumping up the tyres of fund managers. That said, I have spoken to Keller multiple times since June, and everything he has laid out has come to fruition. 

He has accurately called the ramp in prices and has positioned his portfolio accordingly to take advantage (the Fund returned 35% in calendar 2023 and is up 565% net of fees since inception in July 2018). 

As we all know, however, the next call is the one that matters for investors, and commodity markets are cyclical and, oftentimes, fickle. To know that, one need only look as far as the ramp and collapse in lithium over the past three and a half years. 

So, where are we now and what is Keller doing about it? As you will come to learn in the following Views From the Top interview, Keller remains bullish, noting that; 

"Uranium is trying to solve for a supply deficit from yesterday, for today and for the future. So there's a lot of work to do and we've had more than a decade of ignoring these projects because of how the cycle was. Prices have subsequently moved very quickly".

Whilst Keller remains bullish, he is also managing risk closely - not wanting to give back the hard-earned gains. He is also looking at a particular part of the market that he has hitherto avoided. To find out what it is and why it is starting to look appealing, make sure to watch the video below. 

Note: This interview was recorded on the 24th of January 2024.

Time codes

• 0:00 – Intro and recap

• 0:57 – Is uranium still investible?

• 1:44 – Kazatomprom supply issues

• 3:27 – The solution to high prices, is high prices?

• 5:30 – 2 ASX stocks to play the theme

• 8:41 – Managing risk and securing gains after the rally

• 10:27 – The Developing story

• 12:17 – Guy's View From the Top

• 14:44 – A long-term focus, with visibility the key