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Okapi picks up historical Sunnyside uranium mine amid booming market sentiment

Special Report: Okapi Resources is moving towards its goal of becoming a leader in North American carbon-free nuclear energy with … Read More
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This article was originally published by Stockhead

Okapi Resources is moving towards its goal of becoming a leader in North American carbon-free nuclear energy with the acquisition of the historical Sunnyside uranium mine in Utah.

The company nabbed the past-producing mine by staking mining claims that cover 960 acres adjacent to its existing Rattler uranium project.

It’s a smooth move considering uranium sentiment – and prices – are going gangbusters right now.

That’s mainly driven by the Sprott Physical Uranium Trust which has reportedly bought the equivalent of France’s entire annual uranium supply.

Okapi Resources (ASX:OKR) is confident Sunnyside could present a significant opportunity for new discoveries because historical production at the mine was at grades of 1,500 parts per million uranium and 1.5% vanadium.

But that was in the early 1900s so there’s been no modern exploration at the site since.

Maiden exploration planning underway

“The acquisition of a 100% interest in the past-producing, high-grade Sunnyside Uranium Mine demonstrates the deep in-country knowledge and expertise of Okapi’s team,” Okapi executive director David Nour said.

“This acquisition represents yet another highly value-accretive acquisition for Okapi shareholders.

“The team remains focussed on executing its strategy as it becomes a new leader in North American carbon-free nuclear energy.”

Planning for its maiden, high-impact exploration programs at Rattler and Sunnyside is well advanced.

And Okapi is keeping an eye out for future uranium acquisition opportunities throughout North America.

Location map showing the proximity of the Rattl

Location map showing the proximity of the Rattler uranium project to the White Mesa uranium/vanadium processing facility.

er uranium project to the White Mesa uranium/vanadium processing facility.

A good uranium neighbourhood

The acquisition has increased the company’s landholding by 90% from around 1,020 acres to 1,960 acres.

Plus, it complements Okapi’s Rattler project which includes the historic Rattlesnake open pit mine which was in production until the 1950s.

Rattlesnake reportedly totalled 285,000 tonnes of ore at 2,800 parts per million uranium and 1.0% vanadium for 1.6 million pounds of uranium and 4.5 million pounds of vanadium.

Not to mention the company’s claims neighbour is Energy Fuels’ La Sal Project, which was mined from 2006-2012 with ore processed at the nearby White Mesa uranium mill.

In 2014 the reported remaining resources at La Sal totalled 1.3 million tonnes at 1,700 parts per million uranium and 8,880 parts per million vanadium, for 4.5 million pounds uranium and 23.4 million pounds of vanadium.

White Mesa is key to Okapi’s plans, because the projects are only 85km away from the only operating conventional uranium mill in the USA.

 


 

 

This article was developed in collaboration with Okapi Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Okapi picks up historical Sunnyside uranium mine amid booming market sentiment appeared first on Stockhead.

Energy & Critical Metals

Chevron to Invest Over $10B to Accelerate Lower Carbon Ambitions

Multinational energy firm Chevron Corp. (CVX) plans to invest more than $10 billion until 2028 to grow lower carbon energy businesses. The amount is more…

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Multinational energy firm Chevron Corp. (CVX) plans to invest more than $10 billion until 2028 to grow lower carbon energy businesses. The amount is more than triple the previous guidance of $3 billion and includes $2 billion to lower carbon intensity of Chevron’s operations.

Headquartered in California, Chevron offers financial management, administrative and technology support for energy and chemical operations. Shares of the company gained 2.1% on Wednesday to close at $98.24. (See Chevron stock chart on TipRanks)

The company has also set 2030 growth targets for new energy businesses. These include increasing daily renewable natural gas production to 40,000 MMBtu; raising daily renewable fuels production capacity to 100,000 barrels; growing annual hydrogen production to 150,000 tonnes; and increasing carbon capture and offsets to 25 million tonnes per year.

The Chairman and CEO of Chevron, Michael Wirth, said, “Chevron intends to be a leader in advancing a lower carbon future. Our planned actions target sectors of the economy that are harder to abate and leverage our capabilities, assets, and customer relationships.”

Meanwhile, the company continues to expect to generate $25 billion of cash flow over the next five years and earn a double-digit return on capital employed by 2025. It also reaffirmed its 2028 targets for upstream production greenhouse gas intensity, which Chevron aims to reduce by 35% from 2016 levels.

“With the anticipated strong cash generation of our base business, we expect to grow our dividend, buy back shares and invest in lower carbon businesses. We believe a strategy that combines a high return, lower carbon traditional business with faster-growing, profitable new energy ones positions us to deliver long-term value to our shareholders,” Wirth said.

Following the announcement, J.P. Morgan analyst Phil Gresh downgraded the stock to Hold from Buy and lowered the price target to $111 from $128 (13% upside potential).

The analyst said, “With the higher guided energy transition spending for lower carbon emissions… not having offsets elsewhere in the portfolio, we now see the company’s dividend coverage breakeven creeping closer to a Brent crude price of $55 per barrel, which is a bit above the group average.”

Overall, the stock has a Moderate Buy consensus rating based on 10 Buys and 6 Holds. The average Chevron price target of $125.07 implies 27.3% upside potential. Shares of the company have gained 25.1% over the past year.

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The post Chevron to Invest Over $10B to Accelerate Lower Carbon Ambitions appeared first on TipRanks Financial Blog.

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Energy & Critical Metals

Ricardo to use transport location data to improve air quality in global cities

Ricardo has won a national competition to demonstrate the benefits that transport location data can have on urban air quality. The project addresses both…

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Ricardo has won a national competition to demonstrate the benefits that transport location data can have on urban air quality. The project addresses both the existing vehicle fleet and also extends to long-term improvements in air quality. The award of funding was made by the Geospatial Commission in partnership with Innovate UK.

Ricardo has partnered with UK-based technology company Brightec to develop a smartphone app which will enable hybrid vehicles to sense that they have entered a clean air zone and encourage a switch to electric mode. Ricardo is recruiting taxi drivers in Brighton to trial the app and will use its connected fleet management system—a digital tool which monitors the performance of a fleet of vehicles—to analyze the impact of the app on air quality.

For the project, Ricardo is taking a novel approach that can be applied to existing vehicles to provide immediate benefits to air quality in towns and cities. This immediate delivery of benefits is significant because data from the Society of Motor Manufacturers and Traders shows that while the number of battery electric vehicles and and plug-in hybrid electric vehicles increased by more than 168,000 units in 2020, they still only account for just 1.3% of the total number of vehicles on the road.

The technology that will be developed for the project will enable drivers with hybrid vehicles to use their electric vehicle mode intelligently using the app, and enable transport authorities to understand the air quality impacts of future mobility solutions.

As well as the national-competition-funded taxi study, Ricardo will extend the research activities to longer-term objectives around improving urban air quality. Ricardo will investigate how data from its proprietary RapidAir air quality dispersion modeling software can be used in conjunction with vehicle and traffic simulations to understand the full impacts of clean air zones.

The impacts on congestion and emissions from brakes and tires will also be captured, and then optimized for greatest effect across a whole geography. Ricardo will also develop a simulation approach to offer an evaluation on future mobility systems: from electrified or zero-emission buses on prescribed routes through to single-person autonomous electric vehicles. These will provide transport authorities with recommendations to reduce emissions and improve air quality.

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With many transport authorities reviewing their urban planning costs as they continue to deal with the impacts of the global pandemic, Ricardo will demonstrate how data and insight can provide a holistic, detailed picture of air quality for an individual town or city, to enable cost-effective and insight-driven, sustainable mobility solutions.

This latest funding award will build upon the first phase of the project, undertaken in early 2021, which evaluated the feasibility and benefits of making clean air zones dynamic, rather than fixed, to improve even further the effectiveness of geo-fencing technology.

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Energy & Critical Metals

IVECO and Nikola open JV plant for electric heavy-duty trucks; 25 Nikola Tre BEVs to Hamburg

IVECO and Nikola formally unveiled the manufacturing facility in Ulm, Germany for Nikola Tre electric heavy-duty trucks; production will begin by year…

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IVECO and Nikola formally unveiled the manufacturing facility in Ulm, Germany for Nikola Tre electric heavy-duty trucks; production will begin by year end. The first Nikola Tre models produced here will be delivered to select customers in the United States in 2022.

On the occassion of the launch, the two partners also signed a Memorandum of Understanding with Hamburg Port Authority AöR (HPA), stating their joint intent to partner in two phases encompassing up to 25 Nikola Tre battery-electric vehicles (BEV) for delivery to the Port throughout 2022.

In addition to the battery-electric vehicle (BEV) production model, the next evolution of this modular heavy-duty platform was also on display to the public in the form of the fuel cell electric vehicle (FCEV) prototype of the Nikola Tre. This subsequent model will enter production in Ulm by the end of 2023.

Spanning 50,000 square meters, of which 25,000 are covered, the Ulm manufacturing facility features a final assembly process that has been designed for electric-born vehicles. This site, and first phase of industrialization, represents joint investment by IVECO and Nikola and involves a projected 160 suppliers in the process from start to finish.

The production line is currently anticipated to be capable of manufacturing approximately 1,000 units per shift per year and is expected to undergo progressive ramp-up in the following years. The site is expected to operate according to the principles of the World Class Manufacturing program, with the goal of achieving zero waste, zero accidents, zero failures and zero stock, confirmed by its key characteristics which include fully digital shopfloor management designed to guarantee 100% traceability and paperless operations.

Based on the IVECO S-WAY truck platform with an electric axle co-designed and produced by FPT Industrial, the Nikola Tre features Nikola’s advanced electric and fuel cell technology, along with key components provided by Bosch. Together, the teams have designed a modular platform capable of fuel cell as well as battery propulsion technology.

Launching the battery technology first will drive the maturity of the underlying platform before adding the fuel cell as a range-extension technology, Nikola said.

MOU with Hamburg Port Authority. The first phase of the agreement with the Port involves testing of the Nikola Tre BEVs for transport and logistics operations together with high-performance charging solutions. A more definitive second phase in the project partnership plans to see the full integration of the BEV vehicles in port operations, installation of charging infrastructure and on-site service support including major suppliers.

The vehicles provided for these two phases will be the US version of the Nikola Tre with special permissions for in-port operation.

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