Dundee's David Talbot

Dundee's David Talbot

David Talbot, Senior Mining Analyst at Dundee Capital Markets, is one of the foremost uranium analysts in Canada. He sat down with the Energy Report to discuss a few of his favourite names.

Read: Top Ten Stocks for a Uranium Price Rebound: David Talbot

On the uranium price's recent poor performance, Mr. Talbot commented, "What we and most of the industry underestimated was the possible impact of cash-strapped sellers on the spot market," before stating, "A uranium supply crisis is still brewing and the fundamentals do remain strong."

"Cameco is where the big money is going in the sector," says Talbot. "The big catalyst this year is the commissioning of the Cigar Lake project, expected any day now. We're forecasting 23.4 Mlb of production this year, 25.4 next year and just under 36 Mlb by 2018."

As for exploration companies, Mr. Talbot is excited about Fission/Alpha Minerals PLS discovery. "We have Fission Uranium as a buy, speculative risk, no target. Fission owns 50% of the highly perspective and the much-talked-about PLS discovery in the Athabasca Basin. This has propelled the stock and also reignited interest in the whole sector. PLS is high grade, shallow, consistent and thick. The team's already discovered three zones here, with indications that more discoveries are likely. There are already about 30 Mlb discovered in these three zones with 75 Mlb or more possible. Fission's very first hole this summer intersected mineralization over 85 meters (85m). Perhaps the market has priced in the uranium that's already been found, but we don't think it accounts for the vast upside potential."

Read the full interview at The Energy Report.