Advertise on podcast: Going Nuclear with Justin Huhn and Trevor Hall

In this episode of Going Nuclear, hosts Trevor Hall and Justin Huhn of Uranium Insider examine the growing disconnect between uranium equities and the underlying nuclear fuel market. The conversation begins with the recent weakness in uranium stocks before turning to major developments reshaping the global nuclear industry, including the proposed U.S.–South Korea nuclear construction partnership, Uranium Energy Corp.'s expansion into uranium conversion, and Urenco's efforts to expand enrichment capacity in the United States. But the biggest story may be unfolding in Kazakhstan. Justin breaks down Russia's attempt to secure a major long-term uranium supply agreement with Kazatomprom—and why the rejection of that proposed contract could reveal important pressures within Russia's nuclear fuel supply chain. Could Russia's enormous enrichment and reactor export business be creating additional uranium demand that investors are overlooking? Trevor and Justin also examine whether an AI investment bubble could threaten nuclear energy stocks, why hyperscaler demand is not essential to the uranium investment thesis, and what could eventually push uranium prices back above $100 per pound. Episode Sponsor: U92 Energy Corp. (TSXV: UTWO) U92 Energy is an emerging uranium exploration company advancing the Kurupung Uranium Project in Guyana, which hosts a historical uranium resource estimate of approximately 20.5 million pounds.

The uranium spot price is back above $90 per pound, the long-term contract price has reached record nominal levels, and some of the world's largest nuclear fuel buyers are becoming increasingly aggressive. So why are uranium equities struggling to respond?On this episode of Going Nuclear, Trevor Hall and Uranium Insider’s Justin Huhn break down the latest developments across the uranium and nuclear fuel markets. Justin explains what's driving the recent strength in spot uranium, why traders are increasingly reluctant to sell physical material, and why utilities and producers continue to step in on even modest price weakness.Trevor and Justin also examine the increasingly complicated relationship between AI, data centers and nuclear energy. While hyperscaler investment has helped fuel enthusiasm for nuclear equities, Justin argues the uranium bull thesis doesn't require an AI boom. Extending the operating lives of the existing reactor fleet alone provides significant long-term uranium demand, regardless of how quickly new data centers or SMRs are ultimately built.The conversation then turns to what may be the most important development in the uranium market: Russia is buying uranium. Kazatomprom has disclosed major contracts involving both China and Russia, with Justin explaining why Rosatom entering the market as a uranium buyer is particularly significant given Russia's enormous position across enrichment, conversion and uranium production. Meanwhile, China continues accumulating material, Japan has returned to the market, and Kazatomprom is warning Western utilities that future supply won't simply be waiting for them.Finally, Trevor and Justin discuss expectations for $130–$150 uranium, record pricing across much of the nuclear fuel cycle, and Saudi Arabia's headline-grabbing announcement of a massive uranium-bearing resource—and why Justin thinks that particular story matters far less to near-term uranium supply than the headlines suggest.

In this episode of Going Nuclear, Trevor Hall and Justin Huhn sit down with Colin Healey, CEO of Premier American Uranium, for a wide-ranging discussion on the future of uranium exploration and production in the United States. Colin shares his perspective after more than 16 years as a leading uranium equity analyst, explaining why today's supply-demand fundamentals, government policy, and growing nuclear demand create one of the strongest setups the sector has seen in decades. The conversation also explores Premier American Uranium's portfolio in Wyoming and New Mexico, the challenges and opportunities of permitting new uranium projects, and why domestic production has become a strategic priority for the United States. Trevor, Justin, and Colin also discuss the role of utilities, evolving contracting dynamics, and why the uranium market may be entering a period where producers have greater influence over pricing than ever before.

Deep Isolation CEO Rod Baltzer joins Going Nuclear to discuss one of the least understood but most important challenges facing the future of nuclear energy: long-term nuclear waste disposal. The conversation explores how Deep Isolation is applying advanced directional drilling technology from the oil and gas sector to create deep borehole disposal systems designed to safely isolate spent nuclear fuel far underground for thousands of years. Rod explains the current bottlenecks surrounding nuclear waste management, the economics of storage and disposal, and why solving the backend of the fuel cycle is becoming increasingly important as small modular reactors and advanced nuclear technologies scale globally. From public market ambitions and international partnerships to the engineering behind disposal canisters and horizontal boreholes, this episode offers a rare deep dive into the future of nuclear waste infrastructure.

In this episode of Going Nuclear, Trevor Hall and Justin Huhn unpack the growing disconnect between quiet uranium markets and increasingly bullish fundamentals building beneath the surface. The conversation dives into a wave of global reactor restarts, shifting energy policy toward sovereignty, and why the nuclear narrative has moved beyond decarbonization toward grid stability and security. Justin also outlines how U.S. regulatory reform and fuel cycle constraints could reshape the long-term uranium market, even as prices remain rangebound today. It’s a timely look at why the “de-risking” of nuclear may not be priced in—yet.

Trevor Hall and Justin Huhn kick off this episode of Going Nuclear by analyzing how the ongoing conflict in the Middle East has accelerated a "snowballing" global theme of sovereign energy security. The hosts discuss the current market conditions and the strategic importance of long-term uranium contracting, specifically highlighting India’s recent massive procurement of nearly 50 million pounds. They also examine Germany’s public expressions of regret regarding its shuttered nuclear fleet while noting positive regulatory momentum for life extensions at California's Diablo Canyon. The conversation then shifts to the frontier of nuclear technology with Sam Gibson, CEO of Hadron Energy, who is developing a 10-megawatt micro-reactor small enough to fit in a shipping container. Gibson details how his company leverages 70 years of light water reactor history to create factory-fabricated units that can be transported by semi-truck and are currently leading the way in NRC licensing. He explains that while remote communities and military bases offer vital use cases, data centers are the fastest-moving early adopters currently driving the company's multiple gigawatts of potential demand. Finally, the episode explores Hadron's transition to the public markets through a strategic merger, positioning the company to own and operate the resilient, carbon-free energy infrastructure of the 2030s.

In this episode of Going Nuclear, Andrew Weekley of Smith Weekly Research joins the program to discuss the necessity of adaptation and capital preservation amidst heightening global volatility and geopolitical friction. Weekley details his current defensive posture of keeping "one foot out" of the market by maintaining high cash reserves, citing concerns over broad market manipulation and the impending risk of a significant correction. The conversation explores the structural challenges facing the uranium industry, specifically the severe lack of technical expertise and the logistical hurdles likely to delay anticipated greenfield production restarts. Finally, the episode highlights the importance of identifying company-specific value creators and explains why the team remains cautiously optimistic about the long-term outcomes for uranium, gold, and silver despite near-term market "chop".

Jake Jurewicz, co-founder and CEO of Blue Energy, discusses the innovative approaches his company is taking to address the challenges of nuclear energy development. He emphasizes the importance of financing, prefabrication, and strategic partnerships in making nuclear power more viable and attractive to investors. The discussion also touches on the transition from gas to nuclear, site selection for small modular reactors (SMRs), and the regulatory environment affecting the industry. Jurewicz expresses optimism about the future of nuclear energy and the potential for a renaissance in the sector as demand for clean energy continues to grow.

Steffan Szumowski, a 16-year US Nuclear Navy veteran and author of "The Nuclear Review," joins the show to discuss the accelerating momentum of the domestic nuclear industry under the current administration. The conversation covers the Department of Energy's ambitious "breakneck" push to have three new reactors attain criticality by July 4, 2026, supported by new pilot programs for both reactors and fuel. Szumowski explains the strategic effort to onshore the supply chain by awarding $900 million contracts to companies like Centris and Orano to build domestic enrichment capacity and eliminate reliance on Russian supply. The guests explore how the massive power needs of AI data centers are driving "hyperscaler" deals with advanced reactor companies like Oklo and TerraPower, even as debate continues over the future of large-scale AP1000 deployments. Szumowski shares insights from his experience operating submarine reactors and highlights why real engineering progress is the only way to win the race among 126 different small modular reactor designs. Support for this podcast and all of Clear Commodity Network comes from TerraHutton.

Trevor and Justin discuss the current state of the uranium market, focusing on recent trends, Cameco's quarterly financials, and strategic partnerships in the nuclear sector. They analyze the implications of market corrections, the challenges faced by uranium producers, and the potential for future growth driven by new technologies and government initiatives.

The latest episode of Going Nuclear welcomes Dr. Benjamin Reinke, Vice President of Global Business Development and Deputy Chief Commercial Officer at X-Energy. X-Energy is a leading American nuclear reactor fuel design engineering company focused on developing the Xe-100, a generation four high temperature gas cooled small modular reactor. The Xe-100 is powered by proprietary TRISO-X fuel, engineered to be melt-proof, ensuring safe, clean, and scalable energy for electricity and industrial process heat applications. Reinke explains that the reactor’s high operating temperatures expand its use cases beyond traditional base load power, offering opportunities like providing high-temperature process steam to heavy industry. This capability was first realized through X-Energy’s partnership with Dow Chemical, marking the first industrial sale of nuclear power from a vendor to a global commodity producer. Additionally, X-Energy recently made headlines with its landmark deal with Amazon, which invested heavily in the company and committed to off-take power from a minimum of five gigawatts of Xe-100 reactors by 2039. The company is also pursuing fleet deployment internationally, having partnered with Centrica, the largest UK-owned utility, to target a six gigawatt deployment in the United Kingdom. With these significant commercial successes totaling over 11 gigawatts, Reinke emphasizes that X-Energy’s current focus is now on project delivery, supply chain scaling, and the construction of their first commercial-scale TRISO-x fuel facility.

In the first half of the show, Trevor and Justin dive into the latest developments in the uranium market. Fresh off a trip to the World Nuclear Association's 50th-anniversary conference in London, Justin shares his key takeaways from the event, which saw record attendance and overwhelmingly positive sentiment from producers, utilities, and banks alike. Both discuss how the market focus has shifted decisively back to uranium after years of concentrating on conversion and enrichment services. They break down the recent surge in the uranium spot price. For the second segment, Trevor and Justin are joined by a special guest, Pat O'Brien, Director of Government Affairs at Holtec. Pat gives an inside look at Holtec's groundbreaking project to restart the Palisades nuclear power plant in Michigan, which is poised to be the first US nuclear plant ever to be brought back online after a permanent shutdown. The restart project is on track to be completed "on time and under budget" thanks to a combination of private funding, $300 million in state grants, and a $1.52 billion loan from the Department of Energy.

In this episode of "Going Nuclear," Justin and Trevor dive into the complexities of long-term contracting in the uranium market. They discuss the recent trends, including the strategic moves by utilities and the unique approaches of international players like Korea. With insights into the evolving pricing dynamics and the implications for future supply, this episode offers a comprehensive look at how long-term contracts are shaping the uranium industry's landscape.

Trevor Hall and Justin Huhn discuss the explore the recent developments in the spot uranium market, including significant financial movements by the Sprott Physical Uranium Trust, and the implications for uranium prices and equities. The conversation also touches on the expected utility demand and seasonal trends, as well as the increasing interest from tech companies in the nuclear sector, highlighting Nvidia's investment in small modular reactors.

In this episode, Trevor and Justin discuss the recent executive orders aimed at expanding nuclear energy in the U.S., including plans for new reactors and regulatory reforms. They analyze market reactions to these developments, investor sentiment, and the implications for uranium stocks. The episode also features an interview with Rebecca Tuhus-Dubrow, author of the new book titled "Atomic Dreams: The New Nuclear Evangelists and the Fight for the Future of Energy". Justin and Rebecca discuss the evolving landscape of nuclear energy, particularly focusing on the Diablo Canyon plant in California. They explore community perspectives, shifting sentiments within the environmental movement, and the case for nuclear energy beyond climate concerns. The conversation also touches on the future of energy demand, challenges facing Diablo Canyon, and the potential of advanced nuclear technologies.