Recent history shows that, in 2021, the price of #uranium reached the highest levels since 2014, driven by numerous external factors. As a key component of #NuclearEnergy, #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%. 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 Currency.Com. According to a report from ResearchAndMarkets said the global uranium production is forecasted to reach 63.16ktU in 2025, experiencing growth at a CAGR of 5% during the period spanning from 2021 to 2025. The report said: “Growth in the global uranium market was supported by factors such as rising nuclear power capacities, increasing urban population, increasing use of uranium in radiation and increasing use of uranium in the military. However, the market growth would be challenged by a decline in nuclear electricity generation, shutting down of mine operations and geopolitical issues. The market is anticipated to experience certain trends like uranium used in radioisotope thermoelectric generators and rising uranium demand from China and developing nations. A gradual decrease in secondary supply, a combination of uranium demand recovery and uranium stockpiling by producers and funds, would lead to the global uranium market remaining in deficit in 2021.” Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), (NYSE: UUUU) ( ), Uranium Energy Corp. (NYSE American: UEC), (NYSE American: URG) ( ), (NYSE: DNN) ( ).
ResearchAndMarkets concluded: “The global uranium production by region can be segmented into the following regions: Kazakhstan, Australia, Namibia, Canada, Uzbekistan, Niger, Russia, China, Ukraine, India, South Africa, USA. In 2020, the dominant share of the market was held by Kazakhstan. Kazakhstan has been an important source of uranium for more than 50 years. The region would continue to dominate the world’s production of uranium during the forecast period, as the state-owned entity that mines and explores for uranium and also produces atomic power in the former Soviet republic.”
Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC) BREAKING NEWS: Traction Uranium and Fission 3.0 Drilling Continues to Intersect Additional Anomalous Radioactivity at Lazy Edward Bay – Traction Uranium Corp. (the “Company” or “Traction”), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region and (“Fission 3“), are pleased to provide the following 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 LEB22-007 in proximity to an 11.7m-wide basement fault with intense clay and chlorite alteration approximately 10m further down hole. Drilling is currently targeting this significant structure up dip at the unconformity.
- Drilling continues to encounter favorable structure, alteration and anomalous radioactivity in the vicinity of historic hole LE-73 on the West Horse conductor
- LEB22-004 encountered anomalous radioactivity near the sandstone-basement unconformity at 164.6m associated with a reverse fault (see May 31, 2022 release)
- LEB22-007 encountered elevated radioactivity in the lower sandstone of 380cps on the handheld spectrometer at 169.75 m, corresponding on the downhole gamma probe with increased radioactivity >500 cps from 168.5 m to 169.5 m with a maximum of 1177 counts as well as from 171 m to 171.5 m with a maximum of 1063 cps.
- The unconformity was intersected at 173m and the large fault zone was intersected from 178.4 m and continued to 190.1m.
- Additional drill targets have been defined along the Western Horse Corridor from a re-interpretation of an airborne VTEM survey to be added to the program.
- Favorable structure, alteration along with elevated levels of radiation are key indicators for identifying unconformity type, high grade uranium deposits typical in the basin.
Hole LEB22-008 is in progress to test an 11.7m-wide extremely clay and chlorite altered basement structure along with proximal anomalous radioactivity intersected in hole LEB22-007 up-dip where it intersects the unconformity which is the 6th hole in the immediate vicinity of historic hole LE-73 along the western Horse Conductor. Hole LEB-007 targeted the same structure approximately 50m along strike to the north.
Lester Esteban, Chief Executive Officer, states “Our drill program at Lazy Edward Bay is exceeding our expectations, by optimizing logistics our team was able to re-allocate the cost savings towards drilling. We are hoping to drill more holes than planned and finish above 3000m rather than the original target of 8 holes for 2000m. This allows us to pursue mineralization on further good looking geophysical targets along the western Horse Conductor prior to wrapping up the program within the next couple weeks.” CONTINUED… Read this full press release and more news for Traction Uranium at: https://www.financialnewsmedia.com/news-trac/
Other recent developments in the mining industry of note include:
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 www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com, and on the Company’s website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.(NYSE: UUUU) ( ) recently
Mark S. Chalmers, Energy Fuels’ President and CEO, stated: “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…”
Uranium Energy Corp. (NYSE American: UEC) and announced they have entered into a definitive arrangement agreement (the “Agreement”), pursuant to which UEC will acquire all of the issued and outstanding common shares of UEX by way of statutory plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act.(UEX) recently
Under the terms of the Agreement, each holder of the common shares of UEX (each, a “UEX Share”) will receive 0.0831 of one UEC share (each, a “UEC Share”) in exchange for each UEX Share. This share exchange ratio implies consideration of approximately C$0.43 (3) per UEX Share and a premium of approximately 50% based on the closing price of UEX’s shares on the Toronto Stock Exchange (the “TSX”) on June 10, 2022.
filed the Company’s Form 10-Q for the quarter ended March 31, 2022, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtmland with Canadian securities authorities at www.sedar.com.(NYSE American: URG) ( ) has recently
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.
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 www.denisonmines.com or on SEDAR (at www.sedar.com) and EDGAR (at www.sec.gov/edgar.shtml). 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(NYSE: DNN) ( ) recently
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.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated forty five hundred dollars for news coverage of the current press releases issued by Traction Uranium Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
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