Palm Beach, FL – April 21, 2022 – FinancialNewsMedia.com News Commentary – Investors are saying that 2021 was an eventful year for uranium, but what’s the uranium outlook for 2022? 2021 saw a rise in the uranium market. Savvy investors say that, while gold is tied to monetary policy and the US dollar, uranium also has correlations, primarily to energy. A recent article in Investing News said that following 2020’s growth, prices for the energy fuel climbed 45 percent, rising from US$29.63 per pound in January to US$50.63 in September, a nine year high and a critical threshold for explorers, developers and producers. Although prices were unable to maintain that level, values have been able to remain above US$40 in the months since then. As one of the few commodities to register two solid years of gains amid the pandemic, many analysts are of the belief that higher uranium prices are here to stay. This idea has been bolstered by rising demand for clean energy, specifically the need for carbon-free electricity. Active companies in the markets today include: BASIN URANIUM CORP. (OTCPK: BURCF) (CSE: NCLR), Denison Mines Corp. (NYSE: DNN) (TSX: DML), Uranium Energy Corp (NYSE: UEC), NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE), American Resources Corporation (NASDAQ: AREC).
The article said: ““Globally, nuclear continues to account for 10 percent of total electricity and is the second largest source of carbon-free power,” said John Kotek, vice president of policy development and public affairs at the Nuclear Energy Institute. “While that number won’t change much in the near term given the number of nuclear reactors under construction today, the interest we’re seeing in new nuclear construction coupled with the increasing drive to decarbonize gives us confidence that share will grow over time. Kotek also noted that recent analysis by the International Atomic Energy Agency, the Organization for Economic Co-operation and Development, the International Energy Agency and others reinforces the expectation that world nuclear generation capacity will increase significantly by 2050. This growth will be facilitated by new reactors coming online and joining the current global fleet of 445 reactors.”
BASIN URANIUM CORP. (CSE: NCLR.CN) (OTCPK: BURCF) BREAKING NEWS: BASIN URANIUM COMMENCES DRILLING AT MANN LAKE – BASIN URANIUM CORP. (“Basin Uranium” or the “Company”) is pleased to announce it has commenced its spring 2022 diamond drilling program at its Mann Lake uranium project in Saskatchewan’s prolific Athabasca Basin. The Mann Lake project is located 25km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit.
“I am happy to report that the drill is turning and we are now coring at Mann Lake.” stated Mike Blady, CEO of Basin Uranium. “Since acquiring the project from Skyharbour Resources in late 2021, the Basin team has made great strides in consulting, permitting, planning, and now drilling in a very short period of time. Our focus now is on executing our exploration plans for 2022 in a responsible, safe and timely manner.”
Bryson Drilling Ltd. is providing diamond drilling services under the supervision of TerraLogic Exploration Inc. With over 100 years of combined experience, Bryson Drilling is a locally owned Saskatchewan family-based business with vast experience in the Athabasca Basin drilling for some of the largest exploration and mining companies in the province. CONTINUED… Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/
In other news and developments of note in the markets this week:
Denison Mines Corp. (NYSE: DNN) (TSX: DML) recently reported the discovery of multiple new high-grade intercepts of unconformity-hosted uranium mineralization in the final three drill holes completed during the winter 2022 exploration program on the Waterfound River property (“Waterfound”). The results were highlighted by drill hole WF-68, which returned a broad zone of uranium mineralization, including a peak interval of 5.91% eU3O8 over 3.9 metres(0.05% eU3O8 cut-off) with a sub-interval grading 25.30% eU3O8 over 0.7 m, located approximately 800 metres west, along the La Rocque Conductive Corridor, of the previously discovered high-grade mineralization (including 4.49% U3O8 over 10.53 metres) at the Alligator Zone. PDF Version
Uranium Energy Corp (NYSE: UEC) recently reported that it has now secured an additional 400,000 pounds of U.S. warehoused uranium, expanding its physical uranium program to 5 million pounds U3O8, with delivery dates out to December 2025 at a volume weighted average price of ~$38 per pound. UEC’s physical uranium program represents an unrealized gain of over $125 million based on the current spot price published by TradeTech on April 19, 2022, at $63.25 per pound U3O8.
Amir Adnani, President and CEO stated: “A year ago, UEC launched a physical uranium portfolio with 500,000 pounds purchased at a uranium cost basis of less than $30 per pound. The Company has grown the size of our inventory over ten-fold to 5 million pounds by making well-timed purchases near cycle lows that allow us to maintain a low-cost portfolio of ~$38/lb with spot uranium now trading at over $63/lb. At a time of heightened geopolitical uncertainty, UEC has the benefit of secure U.S. warehoused physical inventories. We have also staged our deliveries to receive uranium as far out as December 2025, providing a low-cost stream of physical uranium as we enter this uranium bull market that shows a major structural supply deficit exceeding 215 million pounds by 2026.”
NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE) recently announced that it has been approved for uplisting on the New York Stock Exchange (“NYSE”) from its current listing on the NYSE American LLC (“NYSE American”). The Company’s common stock will begin trading under the symbol “NXE” at the opening of trading on March 4, 2022.
Leigh Curyer, Chief Executive Officer commented: “The uplisting on the NYSE is a major corporate milestone for NexGen in creating long-term value and an expansion of our global shareholder base. This listing is a demonstration of NexGen’s corporate governance standards, size, liquidity and exceptional value proposition offered to global investors allocating capital to elite ESG entities at a time the demand for reliable and sustainable clean air energy fuel is undergoing a generational transition.”
American Resources Corporation (NASDAQ:AREC), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, recently announced that has signed a binding letter of intent to acquire all of the outstanding stock of Energy Technologies Inc. (“ETI”), a rare earth element and carbon technology company with a focus on analyzing and separating materials for the recovery and concentration of high-value products.
Mark Jensen, CEO of American Resources Corporation commented, “We have had the luxury of working with the Energy Technologies team, led by David Swindell, for the past several years. Most recently, we’ve been part of a U.S. Department of Energy Federal Demonstration Partnership award, led by ETI, for the analyzing and sorting of mineral-rich resource feedstock in a support role. As part of this previously announced program, we had the opportunity to better understand ETI’s capabilities and the quality of their technology, and also came away with a very high regard for David and his team. We couldn’t be happier to have them join the American Resources team and help continue to drive our innovation in the rare earth and battery metals space. As we continue to expand our footprint of feedstocks, we believe the addition of their patented technologies will highly complement our leading suite of IP with regards to capturing, processing and purifying critical and rare earth elements in the lowest cost and environmentally safe methods.”
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