Wishful thinking disclosure: I held a huge parcel of Paladin from March 2003 to March 2007.

Reality disclosure: I worked in a sector that server the nuclear power industry for 15 years until about 2 years ago. Unlike other commodities, uranium is largely unrelated to spot price with contracts established between 1-3 or even longer.

There is also currently a supply surplus (acknowledging I'm a little out of the space) plus the build rate of new stations is slowing or effectively non existent in the west.

In massive nuclear states such as China, renewables are taking over. Last year for example they constructed more wind production than was built anywhere else in the world in the last 5 years.

I would be looking carefully at how long the current bull market can run.

TLDR: Apologies, post is way off track from nuclear as investment. Nuclear is not in Australia's future, and coal will be replaced in the next decade or so by renewables.

One of the biggest problems with nuclear is the cost. Think tens of billions of dollars. The build cost negligible though compared to clean up costs which are astronomical. One example, I worked on was Magnox (UK nuclear) where the site rectification works will run for almost 4 decades. 

Then there are the NIMBY problems.

Also, there is no need for nuclear in Australia, indeed there is not even a requirement for coal despite what the federal government tells us.

Mike Cannon-Brooks bid for AGL wasn't because he wanted those assets, he wanted them so he could shut them down. It also showed more than anything is a complete lack of leadership from the federal government. 

Coal closures aligned with Paris targets should be coming from government policy. It's a shame that we have had to rely on billionaires to act in the interest of society and fill a policy void. 

Cannon-Brooks is correct, the life of coal in Australia is terminal. Variable renewable energy is already replacing fossil fuel generation and has been doing so for more than a decade. FY18 was the first-year renewables generated more than gas and FY21 saw the lowest gas generation on record. FY20 renewables out generated brown coal.

In the wholesale energy market (ie Australia excluding WA and NT) generators bid with their supply and price. The market operator then dispatches the cheapest generators to meet the demand. In contrast to fossil generation, renewables do not have a fuel cost, so their marginal cost is essentially zero and they regularly bid zero to the market. Fossil fuel generation is then put to the bottom of the dispatch. 

This is putting downward pressure on the wholesale prices and further increasing costs for fossil generators, in the case of coal generators they cannot be turned on and off, so their costs remain constant. 

Renewables are not perfect though as they do not constantly generate which causes grid stability issues. The supply has to be in balance with the demand otherwise there are blackouts as happened last year when Callide failed. South Australia has at least in part mitigated this balance issue with the Hornsdale Power Reserve (Telsa Big Battery).

NSW government have given the thumbs up to AGL for their proposed 500MW/2GWh Liddell Big Battery which will be located next to the 50-year-old Liddell coal generator. Liddell BESS (battery energy storage system) is part of AGL’s strategy to add 850MW of grid-scale BESS to its portfolio by 2024 as it decreases its coal portfolio.

In a half-yearly update, AGL has announced it is bringing forward the closure dates for its coal-fired power stations: Bayswater: between 2030 and 2033 (previously 2035) and Loy Yang A: between 2040 and 2045 (previously 2048)

These updated closure dates still overestimate the longevity of coal in the energy market. Coal-fired power stations will struggle to remain viable beyond 2030 without significant government support. 

Not all government is blinkered to the changes. The NSW government has announced a new corridor for major transmission lines that could help it quadruple the size of the Central-West Renewable Energy Zone. This is one of five being created to replace the coal generators.

Hey Stuey727. The latter - more production than demand.

Uranium has never been under supplied. The current price surge has seen mines that were put in care and maintenance following Fukushima come back on line pushing supply up.