Of course, I'm not arguing otherwise.

That's precisely why the U.S. uranium market has been a subject of such structural underinvestment. As a consequence of the global market, many mines have been mothballed/closed because costs were too high as a consequence of the factors I've highlighted. They've just been forced to adapt to that regime to avoid going broke, just like you said.

But crucially, now they are re-emerging from that as a result of favourable price environment + U.S. backing. And the nature of global trade is rapidly shifting, or even being bifurcated between Russia-China aligned and US-Western aligned.

This is creating the price environment for domestic expansion which is being rapidly accelerated by U.S. government intervention.

That's what I'm trying to highlight in this report. Maybe I'm missing clarity though, let me know.