L2 Capital

In this episode, Marcelo Lopez spoke to cannabis investor Aaron Edelheit. Aaron has been doing extensive research in the cannabis sector and has a knack for opportunities, like the purchase of properties after the GFC.

Aaron mentioned the similarities between the cannabis investment now and the property market in 2009. He also talked a lot about interstate commerce, which he views as a hindrance for the sector, and probably the most important thing at the moment.

Besides, Aaron gave his opinion on legislation, schedule review, illegal production and much more. 

In this episode, Marcelo Lopez had a very interesting conversation with Jesse Redmond, Head of Cannabis Research at Water Tower Research. Jesse discussed the current situation of the cannabis market in the USA and the investment perspectives. Redmond also explained the role states play in this universe, the existing political catalysts, including SAFE Banking Act, schedule review, tax-related issues, and what to expect from the Garland memo.

In this episode, Marcelo Lopez had a very interesting conversation with Jim Grant, founder and editor of Grant’s Interest Rate Observer. Jim talked about the many risks that are present in the markets today, from private equity to high yield bonds. Besides, Jim gave his views on interest rates and inflation, and its potential impacts in the economy. He also lecture us about his preferred commodity, gold, and talked about nuclear energy and uranium. Last but not least, he left us with 3 excellent book recommendations. 

In today's episode, Marcelo López spoke with Mark Nelson, executive director of the Radiant Energy Fund, a non-profit organization focused on the energy market.

Mark is a nuclear engineer who started his career working with the famous Michael Shellenberger, author of the book “Apocalypse Never” and a great defender of nuclear energy as a source of clean and sustainable energy.

Nelson spoke about ESG investments – these are investments in line with best practices regarding environmental, social and corporate governance aspects. Mark questioned the ESG title that giants in a few sectors, especially technology, claim they hold . Mark explained in detail how energy is a topic of great relevance, but it is not given the proper credit.

Mark also explained the cultural war being waged against nuclear energy and its impacts on the world and told us how to deal with differences of opinion in communication.

When asked how wind and solar power would have supposedly gotten cheaper in recent years, while people who live in regions where there is a lot of availability of these types of energy sources end up paying more for electricity, Mark gave a surprising explanation. He demonstrated that the metric used by the sector is wrong and misleading (LCOE -levelized cost of energy) and gave a fantastic example to substantiate his point.

Mark also spoke about the situation in France, the anti-nuclear youth movement today, its origins and how to deal with the issue. In addition, it addressed an interesting item, the reverse carbon tax.

Nelson also spoke about the German situation and the major problem that nuclear energy will have to face in that country.

Finally, Mark explained, from his point of view, why it is easier to develop nuclear projects and build atomic reactors in Asian countries than in Western countries.

In today's episode, Marcelo López spoke with Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia.

Brandon, a frequent participant in the L2 Capital podcasts, returned to discuss important topics such as the restart of the Cigar Lake mine, the 20% cut in Kazatomprom's estimated production for 2022, the World Nuclear Association (WNA) Symposium, the latest developments in the spot market, the situation in Iran at the moment and the latest news from Bannerman Resources.

Marcelo had already mentioned in the last podcast recorded with Munro, in early June, that he expected the production of Cigar Lake to return this year and Brandon starts talking about the stock market's response to Cameco's announcement. The reopening procedures of the mine that had been closed due to the pandemic are due to start in September.

Brandon also discusses the decision of Kazatomprom, the world's largest uranium miner, to reduce the estimated production of the metal by 20% in 2022 and the importance of this attitude for the market. Munro talks about the consequences of this and the possible repercussions for the coming years.

He comments on the uranium spot market, the main factors that are affecting the price at the moment and how real investors are reacting.

Brandon explains that the WNA (World Nuclear Association) Symposium will be virtual this year and discusses what the implications will be for nuclear fuel buyers and sellers.

Munro also talks about the Iran sanctions waivers, which end on August 27, and what the United States are doing about it.

Finally, Brandon talks about the changes at Bannerman Resources and how it can affect the company and investors' view of it.