June4, 2021Toronto, Canada (June 4, 2021) - Mega Uranium Ltd. (MGA: TSX) is pleased to announce that it has participated in the recently closed equity financings of Toro Energy Limited (ASX: TOE; "Toro Energy") and International Consolidated Uranium Inc. (TSXV: CUR; "Consolidated Uranium"), two publicly-listed issuers engaged in uranium exploration and development activities.Mega's AUD$1.5M invest...Read More
March 30, 2021Toronto, Ontario (March 30, 2021) - Mega Uranium Ltd. (TSX: MGA) announces the results of its annual shareholder meeting held earlier today. Each of the nominees listed below was elected as a director by a show of hands of the majority of shareholders. The results of the shares voted in person or by proxy in respect of the election of each director are:NomineeShares Voted ForShar...Read More
Weekly Reports |Sep 08 2020The uranium price slide continues, despite nuclear power programs advancing in America and China.-Nuclear generation reached a near-record high in 2019-Weekly spot prices fall just under one percent-Nuclear power plants advanced in America and ChinaBy Mark Woodruff.Nuclear generation reached a near-record high in 2019, enough to meet more than 10% of the world's electric...Read More
Weekly Reports |Sep 01 2020The uranium price continues its slide as nuclear plant decommissions in the US and Scotland are planned.-Exelon Generation decommissions two plants due to falling energy prices-Weekly spot price declinsd over one percent -Australian state backs away from lifting ban on uranium miningBy Mark WoodruffThe news that Exelon Generation would decommission its Dresden and Byron...Read More
The Northern Miner has compiled a list of the top 10, Canadian headquartered base metal and uranium juniors - with no production and which are not a royalty or streaming company. The ranking is based on market capitalization as of mid-June.1. Ivanhoe MinesUS$3.4 billion market capitalizationFor the fourth year in a year, Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) retains its commanding position ato...Read More
Weekly Reports |Jun 16 2020While last week was another of little activity in uranium markets, attention turned to progress on global decarbonisation and nuclear power's role therein.-No virus impact on reactors-Nuclear build plans slowing-US electricity could be 90% carbon-free by 2035By Greg PeelWhile the effects of the pandemic on global energy demand are still being measured and forecasted, no...Read More
Pinos Altos mine Credit: Agnico EagleOTTAWA - Miners Agnico Eagle Mines and Cameco are this year's recipients of the Mining Association of Canada's (MAC) Towards Sustainable Mining (TSM) Excellence Awards, which recognize innovative sustainability projects focused on community engagement and the environment.The TSM encourages mining companies to meet the demand for minerals, metals and energy prod...Read More
Weekly Reports |Jun 02 2020Activity in uranium markets slipped back to more normal levels in May as utilities remain reluctant to commit.-US uranium purchases up 20% in 2019-Purchases from non-allies exceeded those from allies-Utilities still expected to come to the market this yearBy Greg PeelA recent US Department of Energy report into the US uranium market, which at 28% of demand is the world's...Read More
Far left: The rehabilitated Claude mining area. Credit: Orano CanadaBetween 1980 and 2002, the Cluff Lake mine in northwest Saskatchewan produced more than 62 million lb. of uranium concentrate, with the site also producing gold between 1984-88.After a planning process that included extensive public engagement, the site, which once hosted four open pits and two underground mines, was decommissione...Read More
Weekly Reports |May 26 2020A report of significant reduction in US uranium production over 2019 and into 2020 had uranium spot prices back on the move again last week.-Big reduction in US 2019 production of uranium-Big reduction in US March quarter 2020 production-Kazatomprom still in lockdown-Spot price hits a four-year highBy Greg PeelAccording to a report released by the US Energy Information...Read More
This episode features the Q&A portion of Cameco's Q1 conference call that took place on May 1, 2020. Cameco president and CEO Tim Gitzel and vice-president and chief financial officer Grant Isaac discuss the impact of the coronavirus on uranium prices, as well as the difficulty the company has in obtaining an accurate uranium spot price, M&A and its ongoing tax dispute with the Canadian Revenu...Read More
ORANO Mining Namibia has donated 200 million litres of desalinated water to local authorities in the coastal area.The value of the once-off donation is about N$6 million, Orano spokesperson Christine de Klerk said last week.The donation is in support of the government's efforts to cushion the economic impact of the Covid-19 outbreak.The water will be distributed through NamWater from the Erongo De...Read More
Weekly Reports |May 19 2020Cameco has this week begun to reopen its uranium conversion facilities after virus lockdown while the US government has outlined plans for the purchase of domestically produced uranium-Cameco reopens two processing plants-US government outlines Strategic Reserve plans-Uranium market activity again subduedBy Greg PeelOn Monday, Cameco announced it would resume production...Read More
May 14, 2020Toronto, Canada (May 14, 2020) - Mega Uranium Ltd. (MGA: TSX) announces that it has entered into an agreement with NXGold Ltd. ("NX") to grant to NX (following receipt by NX of the necessary conditional approvals of the TSX Venture Exchange) a two-year option to purchase Mega's Ben Lomond uranium property located in Queensland, Australia (the "Ben Lomond Option"). As consideration fo...Read More
MAC surveyTORONTO - Coinciding with National Mining Week, the Mining Association of Canada (MAC) has released a new national poll that highlights public enthusiasm for Canada to grow market share as a preferred global supplier of critical minerals, based on abundance and leading environmental standards.As demand for minerals and metals continues to grow, there is increasing focus on what are refer...Read More
NexGen Energy's Rook 1 project in Saskatchewan, Canada. Credit: NexGen Energy.NexGen Energy (TSX: NXE; NYSE: NXE) has signed a US$30 million financing agreement with Queen's Road Capital Investment (TSXV: QRC) and plans to use the funds to advance work at its flagship Arrow deposit, part of the company's Rook 1 project in Saskatchewan."Warren Gilman, chairman and chief executive officer of Queen's...Read More
Weekly Reports |May 12 2020After an historic monthly price rise in April, May opened with the spot uranium market calming down.-Calm descends on uranium market-Virus hitting global energy demand-US production crashesBy Greg PeelIn the month of April, the spot uranium price rose almost 24% to mark the largest monthly increase in almost thirty years. In six weeks, the spot price rose 41%, being the...Read More
A uranium hexafluoride cylinder at Cameco's conversion facility in Port Hope Credit: CamecoONTARIO - Cameco has announced that it is resuming production at the uranium hexafluoride (UF6) plant within its Port Hope conversion facility and its Blind River refinery in Ontario. The two operations are planned to restart the week of May 18 and ramp up to full production by the week of May 25.On Apr. 8,...Read More
Africa offers pre-production and operating companies large areas of underexplored prospective terrain and, in many countries, established mining legislation. West Africa, in particular, has attracted many explorers, developers and producers looking to deliver competitive returns for shareholders. Notably, a number of countries on this continent have a free carried interest provision, whereby they...Read More
Weekly Reports |Apr 29 2020The virus has curbed uranium production, but also utility demand. Prices continue to rise ahead of an expected return of utility demand.-Utilities focused on safety management-Supply curtailments continue to underpin uranium prices-Trump's Working Group Report finally publishedBy Greg PeelWhile nuclear power generation is deemed an essential service at this time, allowin...Read More