Resolves YES if the U3O8 spot price, as reported by UxC or a comparable authoritative uranium market price index, is strictly greater than $40 per pound on September 29, 2026. This threshold is near the expected price level given Kazatomprom's long-term contract with India, which implies reduced spot market supply and potential upward pressure on uranium prices from the current ~$32-$35/lb range. The market price must be the official spot price on that date; futures or contract prices do not count. This market captures the impact of supply tightening in a market where uranium has high leverage in nuclear fuel costs and limited substitution, making the $40/lb threshold a meaningful test of price strength six months after the deal.

The long-term contract implies reduced supply on the spot market, potentially driving up uranium prices.

Source: Article