Experts Indicating Uranium Prices and Demand Could Continue Its Bullish Run

Palm Beach, FL – June 1, 2022 – News Commentary – Experts see uranium prices continuing to rise for the next several years as it has done in the past. In 2021, the price of Uranium reached the highest levels since 2014, driven by numerous external factors. As a key component of nuclear energy, investors continue to bet on increasing demand for uranium as the world looks towards alternative energies. Throughout the year, the uranium spot price rose from around $30 to $42.05 a pound, an increase just shy of 40%. Data supplied by the World Nuclear Association shows that Kazakhstan is by far the largest producer of uranium. Kazakhstan’s mines are responsible for 41% of world supply in 2020. Other major producers include Australia, Namibia, Canada and Uzbekistan. The largest uranium mine is the Cigar Lake Mine, located in the Saskatchewan province of Canada. However, mining practices are steadily being overtaken by “in situ leeching”, which replaces underground mining with above-ground bore drills.  A recent forecast report in said that: “The volatile geopolitical environment in the opening stages of 2022 was the basis for continued price surges. Protests in Kazakhstan against rising energy prices turned into large-scale unrest, resulting in the deaths of hundreds of protestors. Meanwhile, Russian aggression against Ukraine steadily escalated, resulting in global sanctions against the Putin regime, causing further supply-chain anxieties Put together, these factors contributed to a strong headwinds and a rally between 1 January and 31 March, as the price of uranium nearly doubled from $30.20 to $58.20 a pound, according to data from Cameco. As of 5 April, Uranium was trading at $56.70 a pound, a value increase of approximately 83% year on year.”  Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), Uranium Energy Corp (NYSE: UEC), Ur-Energy Inc. (NYSE American: URG) (TSX: URE), Denison Mines Corp (NYSE: DNN) (TSX: DML), Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR).


One analyst commenting on the uranium price forecast for 2022 suggested that the ore’s price could head up to as high as $200, before a 50% retraction to the $100 mark. Another analyst has a more conservative estimate of $70 per pound. The 12-month uranium price forecast at Trading Economics is estimated to reach a value of $66.17.  Uranium could continue its bullish run, according to, partially due to an aggressive buying spree by the Sprott Physical Uranium Trust, which increased its holdings by 10% throughout February 2022 alone.  Meanwhile, The Conversation recommends caution over “speculative interest and irrational exuberance”. The publication added: “We could therefore see a bubble in the uranium market, and don’t be surprised if it is followed by an over-correction to the downside.”


Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC) BREAKING NEWS:  Traction Uranium and Fission 3.0 Drilling Intersects Anomalous Radioactivity at Lazy Edward Bay – Traction Uranium Corp. (the “Company” or “Traction”) and Fission 3.0 Corp. (“Fission 3”) are pleased to provide an update of the drilling at the Lazy Edward Bay project in the SE Athabasca Basin region which commenced on May 17, 2022. Drilling on the Horse West conductor has encountered anomalous radioactivity in drill hole LEB22-004 near the sandstone-basement unconformity at 164.6 m associated with a reverse fault.


Hole LEB22-004 is the fourth hole to be completed during the ongoing summer drilling program and intersected elevated radioactivity associated with a reverse fault at the unconformity from 163.50 to 164.0 m with a maximum of 430 cps, measured on the drill core with a handheld Radiation Solutions RS-125 scintillometer. This corresponds with a peak of 1320 cps on the borehole gamma probe within a 1.6m interval from 162.56 m to 164.16 m greater than 500 cps. These results confirm what has been reported by Uranerz Exploration and Mining Limited in historic drill hole LE-73 drilled in 1989. Geochemical analyses by Uranerz showed that the radiometric anomalies encountered in LE-73 near the unconformity were predominantly caused by high thorium contents, but they were also accompanied with elevated uranium values (170.4 m to 170.6 m of 40 ppm U and 733 ppm Th).


Follow up hole LEB-005 down dip of this intersection is in progress to test the footwall where the reverse fault intersects the basement, which is a similar setting to the occurrence of the McArthur River uranium mine.


Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. Natural gamma radiation in the drill hole surveys that are reported in this news release was measured in counts per second (cps) using a Mount Sopris Instruments QL40-GRA borehole gamma probe. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. All intersections are down-hole. All depths reported of core interval measurements of radioactivity are not always representative of true thickness.   CONTINUED Read this full press release and more news for Traction Uranium at:


Other recent developments in the mining industry of note include:


Ur-Energy Inc. (NYSE American:URG) (TSX:URE) has recently filed the Company’s Form 10-Q for the quarter ended March 31, 2022, with the U.S. Securities and Exchange Commission at with Canadian securities authorities at


Ur-Energy CEO, John Cash said, “The first quarter of 2022 has been an exciting time for our industry with the long-term and spot uranium prices climbing dramatically in response to a growing recognition of nuclear energy’s role in decarbonization, as evidenced by an increasing presence in the industry by financial players. Additionally, threats to the supply of uranium due to geopolitical uncertainty are beginning to overshadow the market. In response to rising uranium prices, and possible supply chain disruptions, we have continued and expanded our drilling and construction program to better position us to quickly ramp up low-cost production from our fully permitted Lost Creek Project when the market improves.


Denison Mines Corp (NYSE: DNN) (TSX: DML) recently filed its Condensed Consolidated Financial Statements and Management’s Discussion & Analysis (‘MD&A’) for the quarter ended March 31, 2022.


Both documents will be available on the Company’s website at or on SEDAR (at and EDGAR (at The highlights provided below are derived from these documents and should be read in conjunction with them. The Company’s results reflect earnings attributable to Denison shareholders of $0.05 per share for the quarter ended March 31, 2022 – including mark-to-market gains of $47.8 million on the Company’s investment in 2.5 million pounds U3O8 of physical uranium holdings. All amounts in this release are in Canadian dollars unless otherwise stated. View PDF


David Cates, President and CEO of Denison commented, “Our results from the first quarter of 2022 reflect further improvements in the uranium market, as well as an active start to the year for the Company’s Wheeler River and McClean Lake projects.


Uranium Energy Corp (NYSE American: UEC) recently announced that it has filed a Technical Report Summary (“TRS”) on EDGAR, disclosing mineral resources for the Company’s Wyoming ISR Hub and Spoke Project (the “Project”).


Background: As a U.S. domestic and domiciled company, UEC is now reporting all mineral resources in accordance with Item 1302 of Regulation S-K (“S-K 1300”); S-K 1300 was adopted by the SEC to modernize mineral property disclosure requirements for mining registrants and to align U.S. disclosure requirements more closely for mineral properties with current industry and global regulatory standards; and The mineral resource estimates set forth in this TRS have not previously been reported under the S-K 1300 format, except for the Reno Creek Project (See Company release dated February 9, 2022).


The TRS was prepared under S-K 1300 and was filed on April 4, 2022 with the SEC through EDGAR on Form 8-K and is also available on SEDAR as a “Material Document” filed on April 4, 2022. The TRS was prepared on behalf of the Company by WWC Engineering, of Sheridan, Wyoming.


Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) recently reported its financial results for the quarter ended March 31, 2022. The Company’s annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (“SEC“) and may be viewed on the Electronic Document Gathering and Retrieval System (“EDGAR“) at, on the System for Electronic Document Analysis and Retrieval (“SEDAR“) at, and on the Company’s website at Unless noted otherwise, all dollar amounts are in U.S. dollars.


“Energy Fuels continues to benefit from increases in the prices for all of the critical elements and materials we produce. Though volatile, uranium prices have continued to exhibit strength and resilience, which we expect to continue as Russia’s invasion in Ukraine continues. As a result of Russia’saggression, we believe domestic and global nuclear utilities are reducing ties with the Russian state-owned nuclear company. We also believe U.S. uranium and nuclear fuel suppliers may be seeing increased interest from U.S. utilities as a result of the $6 billioncivil nuclear credit program, which prioritizes reactors that purchase nuclear fuel and uranium from U.S. suppliers, which would include Energy Fuels.


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