Ben Finegold

Ben Finegold is a director at Ocean Wall, a London-based investment and research firm authorised and regulated by the UK's Financial Conduct Authority, where he serves as the firm's uranium specialist covering the nuclear fuel cycle. His research matters to resource investors because it follows the entire chain behind nuclear power — the miners who produce uranium, the converters and enrichers who make it reactor-ready, and the reactor builders who consume it — at a time when governments are committing to new nuclear capacity faster than the fuel supply chain can respond.

His track record rests on named, verifiable work. He authored Ocean Wall's 2023 report A Nuclear Stranglehold: Russia's Unsanctionable Position in the Nuclear Industry, which documented Russia's dominant role in uranium enrichment (the process of concentrating uranium so it can fuel a reactor) and argued that position could not be sanctioned without disrupting Western reactor operations; academic research on nuclear supply chains has since cited it. His 2026 report From Blueprint to Fleet maps the supply chain of Westinghouse's AP1000 — the reactor design at the center of the Western buildout — component by component. The Telegraph quoted him in January 2024 when hedge funds began stockpiling physical uranium, known as yellowcake, as prices surged, and he is a recurring questioner on the earnings calls of Kazatomprom, the world's largest uranium producer.

Finegold's approach starts with supply and demand arithmetic rather than narratives. He points out how rare it is for a supply deficit to widen even after prices have risen three- to fourfold, and argues the reason sits in cost inflation: western miners' breakeven levels — the uranium price needed to justify restarting production — have climbed so high that idled mines stay shut. From there he tracks term contracting (utilities signing long-term purchase agreements), Western conversion and enrichment capacity, and geopolitics, especially Russia's continuing role in Western fuel supply. Investment conclusions follow from that chain: which miners, fuel-cycle companies, and jurisdictions gain as utilities contract for fuel they cannot yet source in the West.

Public biographical detail on Finegold outside his Ocean Wall work is thin; what is documented is the research record above. His current focus is the reactor buildout and its bottlenecks — whether Western supply chains can build new fleets of reactors and fuel them. Investors who follow his interviews on outlets such as the Investing News Network, Wealthion, and Bloor Street Capital get a running education in uranium pricing, contracting cycles, and the policy shifts, from Russian import restrictions to data-center power demand, that are reshaping the fuel market.