DevEx Resources (DEV) JMM & Tribeca Nuclear Energy Forum 2026 summary

Key industry themes and market overview

• Energy security is now a top global priority, driving renewed focus on nuclear power and significant planned growth in nuclear capacity worldwide.

• Uranium supply is lagging behind surging demand, with prices at decade highs and a persistent supply deficit expected to worsen as new reactors come online.

• Major technology companies are securing nuclear power to meet the exponential electricity needs of AI and data centers, further boosting demand.

• Governments and banks are pledging to triple nuclear capacity, with regulatory and financial support accelerating new builds and life extensions.

• The nuclear fuel cycle faces bottlenecks, especially in uranium mining, as conversion and enrichment capacity expands but primary mine supply remains insufficient.

Investment strategies and fund performance

• The Tribeca Nuclear Energy Opportunities strategy has delivered an 8-year annualized return of 31%, with recent years outperforming due to active management and focus on innovation.

• The fund actively invests across the nuclear value chain, including uranium mining, fuel cycle, electricity generation, and advanced modular reactors.

• Unlike passive ETFs, the fund uses hedging, shorting, and leverage to manage risk and capture upside in volatile markets.

• Recent volatility has provided opportunities to increase positions in undervalued uranium and nuclear technology companies.

Company presentations: Peninsula Energy

• Peninsula Energy operates the Lance Project in Wyoming, now producing dried yellowcake with significant resource upside and a fully licensed facility.

• Production guidance targets 400,000–500,000 lbs in 2026 and 500,000–600,000 lbs in 2027, with expansion potential and minimal diesel reliance.

• The company is positioned to benefit from spot price increases due to limited long-term contracts and is engaging with utilities and the US government for future offtake.

• US domestic uranium production is far below demand, creating strategic value for Peninsula as one of few US producers.