Uranium supply, spot volatility and the SWU paradox [developing]

U3O8 spot $85/lb firm post-Q1 $100 highs bull $150 '26 on deficits Kaz tax; Peninsula A$70M raise Lance 2027 ramp; Canada suspends US deliveries + policy shift approvals Denison Wheeler River/NexGen Rook I; UEC UF6 docket 10k tons; PUR 2026 crisis; NexGen 60M lbs deficit/200M 2040; UEC +222%; PTU/Denison Phoenix FID; Energy Fuels/Eagle Aurora drilling PFS H2'27; low inv/AI/geopolitics Iran/juniors PEN; Kazatomprom; Sec232; CCJ India deal; URA ETF $7.5B AUM/URNM +13%; DOE $2.7B LEU/HALEU.