Cameco (CCJ): Bypassing the spot market & the US government's 8% cut [Q1 2026]

Cameco’s Q1 2026 reveals a brilliant supply chain arbitrage and an unprecedented government alliance, overshadowing a messy cash flow print.In this episode:• Borrowing 750k lbs of uranium internally to avoid open market prices ☢️• How the U.S. government could secure an 8% equity cut of Westinghouse• Why standard $91 pricing metrics completely ignore new $150+ contract ceilings• The seasonal tax payments that drove a massive negative cash flow swingDespite a 30% sequential drop in revenue, gross margins expanded to almost 36% thanks to Cameco's unique supply chain flexibility and storage moats. Management fully reiterated full-year guidance, confident that temporary working capital crunches won't derail the underlying global nuclear expansion.Company: Cameco Corporation (CCJ) | Q1 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.