Bob Moriarty Says Energy Is the World's Most Important Commodity. Is Uranium the Next Opportunity?

Source: Streetwise Reports 10/14/2026

Bob Moriarty of 321gold.com argues real assets can preserve wealth as paper currencies lose purchasing power. His focus on energy and uranium provides a macro backdrop for Azincourt Energy Corp.’s (AAZ:TSX.V; AZURF:OTCQB; A0U0:FSE) exploration projects.Key Takeaways

Bob Moriarty Makes the Case for Real Assets

On October 9, 2026, Bob Moriarty, founder of 321gold.com, joined the Old Gold podcast channel with Eric Robinson to discuss precious metals, mining companies, energy, and the long-term purchasing power of money. A former Marine fighter pilot who completed more than 800 combat missions in Vietnam, Moriarty subsequently became a prominent voice in the resource sector and an avid purchaser of gold as a safe-haven asset.

During the interview, Moriarty argued that investors should distinguish between the nominal price of an asset and its underlying value, showing his thinking by comparing military pay from the 1960s to modern compensation. He said that rising prices and wages do not necessarily mean people are becoming wealthier if the purchasing power of their money is declining.

“An ounce of gold was an ounce of gold in 1966,” Moriarty said. After saying that it’s still an ounce of gold today, Moriarty said that the change is in the value of the currency used to quote the metal rather than the value of the metal itself.

“If gold’s expensive and silver’s expensive and copper is expensive and zinc’s expensive, what’s an alternative safe way to invest in those commodities?” Moriarty asked.

“The miners,” the interviewer replied.

Moriarty agreed, describing a gold-mining investment as buying gold “for future delivery.” Mining shares provide exposure to a commodity through a business, but they also introduce company-specific risks, including exploration results, financing requirements, permitting, development costs, and the possibility that a deposit will never become an operating mine.

The discussion took a different direction when the interviewer asked which commodities investors might be overlooking. Moriarty responded by asking, “What’s the most important commodity in the world?”

“Energy,” he answered, specifically uranium and natural gas.

Azincourt Energy Advances Uranium Exploration in Canada

Azincourt Energy Corp. (AAZ:TSX.V; AZURF:OTCQB; A0U0:FSE) is a uranium exploration company with projects in Labrador’s Central Mineral Belt and Saskatchewan’s Athabasca Basin. Its portfolio includes the Harrier uranium project, the Sylvia Lake uranium project, and the East Preston project. The company is an early-stage explorer, not a uranium producer. Its future depends on exploration results, the potential to establish mineral resources, financing, and the ability to develop its assets. While Moriarty did not specifically endorse Azincourt in his interview, the company is an example of one company breaking into the uranium game he highlighted.

Azincourt’s latest exploration program focuses on the Snegamook uranium deposit within its approximately 13,000-hectare Harrier project in Labrador, Canada.

In an October 2, 2026, company announcement, Azincourt reported that it had completed prospecting and soil sampling across targets at Harrier and commenced diamond drilling at Snegamook. According to the company, the program was designed to test selected historical mineralized intervals, improve the company’s understanding of the deposit, and assess whether sufficient information could eventually support a maiden Mineral Resource Estimate (MRE).

Then, on October 14, 2026, the company reported its initial drilling results. The release stated that two holes, totaling 540 m (meters), had been completed. The first hole, SN0045, was drilled approximately 1.5 m from historical hole SN-08-06 to check the earlier result, while SN0046 tested the mineralized horizon farther down dip. Azincourt reported multiple zones of elevated radioactivity in both holes. Highlights included 0.07% eU₃O₈ (equivalent uranium oxide) over 0.6 m in SN0045 and 0.05% eU₃O₈ over 0.5 m in SN0046. The reported grades are radiometric equivalent grades, not final laboratory assay results. The intervals are drill-hole lengths, not true widths, with laboratory assays pending.

These initial results provide geological information, but they should be considered in context: the company has not established a current mineral resource for Snegamook. Azincourt has said it intends to examine historical drill core, engage an independent Qualified Person, twin selected historical holes, and conduct additional drilling to evaluate the possibility of a future resource estimate.

The broader Harrier property contains more than a dozen identified uranium mineralization zones. Historical surface samples have returned grades of up to 7.48% U₃O₈, according to the company, although surface samples do not establish the grade, width, or continuity of mineralization at depth.

Azincourt is also pursuing the Sylvia Lake uranium project, approximately 100 km (kilometers) northwest of Happy Valley-Goose Bay in Labrador. The project covers approximately 6,725 hectares across two mineral licenses. Under the option agreement announced in August and updated in September 2026, the company is working toward acquiring 100% interest in the property.

The third project is East Preston in Saskatchewan’s Athabasca Basin. Azincourt holds an 87% interest in the approximately 20,674-hectare property, which contains a regional alteration system and prospective uranium targets. Exploration to prove economic viability is still required.

Technical Analyst Calls Stock ‘High Risk, High Reward’

¹On February 9, 2026, John Newell of John Newell & Associates outlined a potential longer-term technical target of CA$0.70 for the company. “Azincourt Energy Corp. represents a high-risk, high-reward uranium opportunity offering genuine optionality at a point in the cycle where fundamentals are improving faster than market valuations,” Newell wrote.

Newell then said, “For investors comfortable with exploration risk and seeking leveraged exposure to a sustained uranium bull market, Azincourt Energy is a Speculative Buy at current levels around CA$0.07, with the understanding that value creation will ultimately depend on execution, drilling results, and broader market conditions.” As of the time of this writing, the stock is trading around CA$0.04.

Uranium Prices and the Nuclear Build-Out

Moriarty’s identification of energy as an essential commodity comes against a backdrop of renewed interest in nuclear power and the uranium required to fuel reactors.

According to TradeTech, its long-term uranium price indicator stood at US$97 per pound of U₃O₈ at the end of September 2026. The indicator has remained at that level for four consecutive months and is at its highest level in more than 18 years.

The World Nuclear Association’s 2026 outlook, updated September 9, reported that global nuclear electricity generation reached a record 2,702 terawatt-hours in 2025, supplying approximately 9% of global electricity. Eleven reactors began construction in 2025, nine in China and two in Russia. The report also said that global nuclear capacity could reach 1,457 gigawatts-electric by 2050 if existing reactors continue operating under the report’s assumptions and the identified construction pipeline and national capacity targets are realized.

The World Nuclear Association noted that 38 countries had endorsed the goal of tripling global nuclear capacity by 2050, building on the commitment first announced at COP28 in 2023. Achieving that goal would require a substantial acceleration in reactor construction. However, these projections are conditional, not guaranteed outcomes. Reactor projects often face financing, permitting, construction, and political obstacles, and new capacity must be considered alongside reactor retirements and extensions to the operating lives of existing plants.

The Investor’s Choice: Paper Assets or Real Resources?

Moriarty’s interview argued that investors should think carefully about what their money will buy long-term. He believes that assets tied to real resources can offer an alternative to holding financial claims denominated in currency, which may decline in value.

His comments about miners extend that argument from physical commodities to the businesses responsible for finding and extracting them. The potential attraction is exposure to future commodity production, but the associated risks vary substantially between established producers, development-stage companies, and early-stage explorers. Azincourt represents the exploration end of that spectrum.

Moriarty closed the interview by framing the future of investment as a choice between increasing wealth and becoming poorer.

“Investors have two choices now,” he said. [OWNERSHIP_CHART-6171]

Ownership & Share Information²

Management and insiders own 10%, institutions hold 30%, and the rest is retail.

Azincourt has 167.48 million shares outstanding, and its market cap is CA$6.71 million. Its 52-week range is CA$0.03–CA$0.15 per share

Frequently Asked Questions

Q: What uranium exploration results did Azincourt Energy report at the Snegamook deposit in October 2026?

A: Azincourt Energy reported elevated radioactivity in two drill holes totaling 540 m. Highlights included 0.07% eU₃O₈ over 0.6 m in hole SN0045 and 0.05% eU₃O₈ over 0.5 m in hole SN0046. These are radiometric equivalent grades, not final laboratory assay results.

Q: What are Azincourt Energy’s main uranium exploration projects?

A: Azincourt’s portfolio includes the Harrier and Sylvia Lake uranium projects in Labrador, Newfoundland and Labrador, and the East Preston project in Saskatchewan’s Athabasca Basin. The company remains an exploration-stage business and has not established the economic viability of these projects.

Q: What uranium price and nuclear energy trends are supporting investor interest in the sector?

A: TradeTech’s long-term uranium price indicator reached US$97 per pound of U₃O₈ at the end of September 2026, its highest level in more than 18 years. The World Nuclear Association also reported record global nuclear electricity generation of 2,702 terawatt-hours in 2025, while identifying potential expansion in global nuclear capacity through 2050.

Q: What did analyst John Newell say about Azincourt Energy’s investment potential?

A: In February 2026, John Newell of John Newell & Associates described Azincourt as a “high-risk, high-reward” uranium opportunity and outlined a potential long-term technical price target of CA$0.70. He characterized the stock as a “Speculative Buy” around CA$0.07 at the time, while emphasizing that potential value creation depended on exploration results, execution, and broader market conditions. The stock is currently trading around CA$0.04.¹

Q: What are real assets, and how do they differ from paper assets?

A: Real assets are tangible assets with intrinsic utility or value, such as gold, silver, copper, uranium, and real estate. Paper assets are financial instruments representing ownership, contractual claims, or investments, such as stocks and bonds. Both can fluctuate in value, and neither category is inherently protected against losses or inflation.

Q: What is uranium oxide (U₃O₈), and why is it important to nuclear energy?

A: Uranium oxide, commonly called yellowcake in its processed concentrate form, is a uranium-bearing material used in the nuclear fuel supply chain. Uranium is processed and enriched as needed before being fabricated into fuel for nuclear reactors. U₃O₈ is also the standard unit used to quote uranium prices and report many uranium exploration grades.

Q: What is a Mineral Resource Estimate (MRE)?

A: A Mineral Resource Estimate is an assessment of the quantity, grade, and geological characteristics of mineralization that has reasonable prospects for eventual economic extraction. It is based on geological evidence and sampling and is typically prepared or reviewed by a qualified professional. An exploration target or historical estimate is not equivalent to a current, compliant mineral resource.

Q: What is radiometric equivalent uranium grade (eU₃O₈)?

A: Radiometric equivalent uranium grade is an estimate of uranium concentration derived from radiation measurements, rather than directly from laboratory chemical analysis. It is commonly used in uranium exploration to identify and evaluate radioactive intervals in drill holes. Equivalent grades may differ from laboratory assay results, so they should not be treated as confirmed chemical grades.

Q: What is the difference between a uranium exploration company and a uranium producer?

A: A uranium exploration company searches for mineralization and evaluates whether a deposit may support future mining. A producer operates a mine and extracts uranium-bearing material for sale or further processing. Exploration companies generally face substantial uncertainty because they may need to establish a resource, demonstrate economic viability, secure permits and financing, and develop a mine before generating production revenue.

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Important Disclosures:

1. Azincourt Energy Corp. is a billboard sponsor of Streetwise Reports. The company pays a monthly sponsorship fee of US$3,000–US$6,000 for banner advertising and an enhanced company profile page. Streetwise Reports’ editorial content is fully independent and is not influenced by sponsorship.
2. As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Azincourt Energy Corp.
3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Disclosure for the quote from the John Newell article published on February 9, 2026

1. For the quoted article (published on February 9, 2026), Azincourt Energy Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: AAZ:TSX.V; AZURF:OTCQB; A0U0:FSE, )

Source: https://www.streetwisereports.com/article/2026/10/14/bob-moriarty-says-energy-is-the-worlds-most-important-commodity-is-uranium-the-next-opportunity.html