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June 2025

Natural Gas – Supportive Dynamics
Recent developments on European natural gas policy hint at overconfidence and complacency by policymakers in our view. Meanwhile, we see US gas prices…
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Asymmetric Research
Uranium – Views following Sput news
Sput's $200m surprise raise set the sector on fire. This would equate to c2.7Mlbs of U3O8 buying capacity and is the largest raise we have witnessed…
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Asymmetric Research
1
Hochschild Mining – Sell-off offers good entry point
UK listed gold and silver producer Hochschild Mining warned this morning on production from its Brazilian mine, Mara Rosa. We think the sell-off is…
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Asymmetric Research
3
Uranium – CGN Mining supply contract at big premium
CGN Mining unveiled a new uranium supply contract with its controlling shareholder CGNPC – the Chinese state-owned nuclear utility. We thought the…
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Asymmetric Research
1

May 2025

Uranium – Sentiment 180
The uranium sector has rebounded hard from the lows last month, and sentiment has turned dramatically too. For some stocks, sentiment is near euphoric…
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Asymmetric Research
2
Transformational upside bets
In this note, we present a list of small cap resource stocks which we own and believe offer transformational upsides on realistic assumptions, and which…
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Asymmetric Research
Uranium – Q1 review of CCJ, KAP and Japan
Q1 production takes: CCJ clear beat, KAP ramp up consistent...Sulphuric acid: What the market misses...Japanese utilities – Latest on inventories and…
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Asymmetric Research

April 2025

Gold - Barron’s front cover: Contrarian ticket or myth?
With gold featuring in the latest Barron’s magazine front cover, some are pointing that this signals the end of the metal’s bull-run. The argument that…
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Asymmetric Research
Gold: Plenty of juice left in quality equities
What really breaks a gold bull-run is far off... USD2800/oz gold likely the bottom in any recession induced sell-off before rapid recovery...Select gold…
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Asymmetric Research
Meteoric Resources: What’s priced in now?
We had presented our bullish case on Australian listed rare-earths developer Meteoric Resources two months ago. The shares are up 60% in a month, and we…
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Asymmetric Research
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