The answer lies in the Holdings by Stage chart - 3rd chart in the Nuclear Section. Invest in stages with the weight toward the Physicsl and Producing end and then a slice of technology and enrichment. When the supply pressure really builds will add more to explorers and 2028 on. Too early to assess fundamentals in the explorers. That is why there are more than 50 stocks in the portfolio. I do not know who will win but pounds in the ground will be key