Ann: Quarterly Cashflow Report, page-11

It has been such a long hard slog for this commodity at sub-profit prices. It is not as if the fuel is the major cost but without fuel there is no nuclear energy industry. China and France have made big calls on the future of electric transport. A demand tsunami is coming by mid 2020s.....the question is when does the market move?

IMO TOE-like shows with ready to mine approvals in place are best placed to leverage the boom cycle as we edge towards the crossover of supply and demand with very low cost base company structure.

No one is commissioning new mines at these prices, demand is growing and supply is falling away. The demand tsunami is on the horizon though with hundreds of under-construction and planned reactors.

Japan is heading towards a breakout from the Paris trap of their own making - they don't like failure to keep their promises and they know they need at least 20% nuclear energy to meet their obligation under the accord so I expect domestic political pressure and subsequently momentum will build on restarts to retain international respect for Japan on the climate stage.