5 years into the uranium trade and still going

In December 2020, I circulated an investment thesis citing my “multi-year” bullishness on uranium and subsequent writings featured Canadian company, Cameco.

Here is one those early musings.

Since then, Cameco’s stock price has risen 12 fold while the price of Uranium has climbed by a multiple of 3.

Back then, Cameco’s market cap was a measly C$6 billion, compared to its C$72 billion mark.

And so, it remains important how to best express your investment view and stick with your conviction.

Today, the Uranium price is powering higher and looks set to test recent highs.

January 28, 2026

rob@karriasset.com.au