The rise in the PCI™ demonstrates a tightening dynamic between a perceived shortfall in the availability of uranium attributable to existing operations versus the need for new material to be produced and delivered into the 2023-2026 delivery period. TradeTech has emphasized that the PCI™ value can be indirectly affected by actions, or inactions, among existing producers. Production decisions by today's existing producers, such as the suspension of operations at Cameco's Cigar Lake Mine, can affect the surplus or deficit in a future marketplace, and this can have carry over implications concerning the ability for (re)emerging producers to enter the supply profile under a given time frame.