This one is fun. Back in March 2024, I bought just 2 shares of Cameco (CCJ) at $41.69 each. Total trade size? $83.37. Let’s be real: that’s barely a dinner in Milan these days. But the idea wasn’t to swing for the fences. The idea was to keep applying the Double-Up Free Stock Strategy and see where it led.

Fast forward to September 25, 2025: I sold 1 share at $79.47, which put $79.47 cash back in my account. That almost covered my full cost basis right there. The remaining 1 share (still worth $79.47) is now completely free.

Here’s the math:

• Invested: $83.37 (2 shares @ $41.685)
• Cash received (1 sold): $79.47
• 1 free share left: $79.47
• Total value: $158.94
• Profit: $75.57
• Return on original investment: +90.6%

Not bad for a trade I could’ve financed by skipping a few cappuccinos.

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Why I Bought Cameco in the First Place

This wasn’t my first time writing about Cameco. In fact, I laid out my reasons for buying uranium exposure in earlier posts:

• Post #1 on CCJ — when I first explained why I liked Cameco as a long-term play.
• Post #2 on CCJ — a follow-up on how uranium demand and energy policy were shaping the trade.

The core logic still stands: uranium was (and is) coming back into fashion, and Cameco is one of the few large, liquid ways to play that trend.

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The Bigger Nuclear Story

Cameco isn’t just “some mining company.” It’s one of the world’s biggest uranium producers. And the timing couldn’t be better:

1. Energy Transition Meets Reality
   Renewables are scaling, but not fast enough to fully replace fossil fuels. Nuclear is increasingly seen as the “bridge” — low carbon, reliable, and scalable.
2. Geopolitics and Energy Security
   With Russia and Kazakhstan holding big pieces of the uranium supply chain, western countries want secure, friendly sources. Cameco, a Canadian giant, fits that bill.
3. Supply Crunch
   Uranium prices surged from the $30s in 2021 to above $90 in 2025, as demand outpaced supply. Cameco is one of the few producers able to ramp up production.
4. Financials at the Time

• Revenue growth: strong tailwinds from higher contract prices.
• Earnings: back into solid profitability by 2024–25.
• Valuation: not “cheap,” with P/E around the high 20s, but justified by growth and scarcity value.

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Explaining Cameco to a 13-Year-Old

Okay, so what does this company actually do?

Think of nuclear power plants as giant kettles that boil water to spin turbines and make electricity. To boil that water, they need a special fuel called uranium. Uranium doesn’t grow on trees — it has to be mined, refined, and delivered safely.

That’s Cameco’s job: they’re basically one of the world’s biggest “uranium suppliers.” They dig it out of the ground, process it, and then sell it to nuclear power plants all over the world. If countries want more clean electricity from nuclear, they need Cameco’s product. Simple as that.

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Why This Trade Worked So Well

• Small position, big gain: I put in $83, and ended up with $158.94 in value.
• Psychological win: By selling 1 share, I pulled out almost my entire stake. The last share is “house money.”
• Optional upside: If uranium prices keep climbing, my free share could be worth even more down the road.
• Strategy confirmation: Once again, the Double-Up Free Stock Strategy delivered exactly as designed.

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A Self-Teasing Reflection

When I bought 2 shares of CCJ, I laughed at myself: “Big spender, two whole shares!”
It felt silly at the time — until the math worked out. Now that one lonely free share in my account is like a radioactive trophy. Proof that even tiny trades can add up if the thesis plays out.

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The Long-Term View

Cameco is a stock I wouldn’t mind holding “for free” for years. Nuclear is volatile — prices can spike, mines can shut, politics can interfere. But as long as the world is serious about decarbonization, uranium demand will stick around.

And with Cameco, I get exposure to one of the few western-based, world-class producers. That makes my single free share worth more to me than its dollar value. It’s a reminder: keep nibbling, keep compounding, and don’t underestimate what peanuts can become.

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Final Thought

This Cameco trade nearly doubled my money and left me with a free share. It wasn’t flashy, it wasn’t huge, but it was effective.

Sometimes investing feels like hunting elephants. Other times it’s just planting acorns and waiting. My Cameco free share is one such acorn. Let’s see if it grows into a mighty uranium tree.