SASKATCHEWAN - IsoEnergy reported that two new intersections of strong radioactivity in initial drill holes were detected during the winter drilling program at the Hurricane zone at its Larocque East project.The property is located in the eastern Athabasca Basin of Saskatchewan, in the Canadian prairies.In a press release, IsoEnergy said that, in the new discovery of high-grade uranium mineralizat...Read More
While uranium spot prices were down 14% in 2019, supply and demand fundamentals for uranium are the "most bullish in years," and the sector "offers its most compelling value proposition since pre-Fukushima," Haywood Securities says in a new research note."Looking ahead, we believe we are in the early stages of a long-term bull market for the uranium investment theme and recommend investors begin p...Read More
An image from the McKinsey & Co. report Climate Risk & Decarbonization depicting areas projected to be under water stress in 2040. Credit: McKinsey & Co.A new report by global consultancy McKinsey & Co. looks at three key questions the mining sector needs to address in light of climate change. Entitled Climate risk and decarbonization: What every mining CEO needs to know, the report details the po...Read More
While the price of uranium suffered a steep decline after the 2011 Fukushima Daiichi nuclear accident, growing pressures to decarbonize power generation provide support for the commodity, which is currently priced at cyclical lows. Below, we provide an overview of eight companies active in uranium exploration and development. Appia EnergyAppia Energy is involved with rare earth and uranium explo...Read More
Weekly Reports |Jan 28 2020The uranium market is again in stasis as several lingering issues provide for collective uncertainty.-No response yet to White House Working Group recommendations-No indication regarding Iran sanction waiver expiries-No interest from buyersBy Greg PeelThe global uranium industry has begun 2020 with the same issue besetting it in 2019 - uncertainty.It was two years ago t...Read More
The uranium spot price has hovered around US$25 per lb. over the better part of the last year and long-term pricing is at the US$32 per lb. level. The prolonged bear market and weak macro-environment continue to erode investor confidence in the primary uranium producers, which in some cases have been forced to curtail output to trim operating costs and stem losses.Market stresses on uranium produc...Read More
ONTARIO - The Nuclear Waste Management Organization (NWMO) announced that it has signed a number of agreements with landowners in South Bruce, Ont., that will allow sufficient access to land for studies at a potential deep geological repository location.In a press release, the NWMO said the community is one of two potential host areas that remain in the site selection process for the project. The...Read More
AUSTRALIA - Boss Resources says that a restart and expansion of its Honeymoon uranium project in south Australia is feasible.Following a feasibility study (FS) and based on a conservative uranium price, Boss believes that Honeymoon is positioned as one of the world's most advanced uranium development projects that can be fast-tracked to re-start production in 12 months with low capital intensity.I...Read More
Uranium companies have been awaiting a price recovery following the tragic Fukushima Daiichi nuclear reactor disaster in March 2011. Since early 2016 the spot uranium price has remained below US$30 per lb. of uranium oxide (U3O8). Many uranium producers have curtailed and shuttered operations, maintaining assets while awaiting a more profitable future. Some juniors have successfully developed impr...Read More
Weekly Reports |Jan 21 2020Utilities are increasingly taking an interest in uranium market developments, but so far the spot price continues to slide further south.-General interest from utilities is rising, with the number of active discussions on the increase-Uranium demand is anticipated to lift later this quarter-Global transitioning towards carbon neutral does not always involve nuclear power...Read More
Weekly Reports |Jan 14 2020Rising tensions between the USA and Iran have not prevented spot uranium from sliding further in early 2020.-Spot uranium continues to slide as buyers stay on the sidelines-Renewed sanctions on Iran do not specifically target the country's nuclear program-Several utilities assessing options in term marketBy Rudi Filapek-VandyckThere is no stopping the slide in spot...Read More
Weekly Reports |Dec 17 2019As year-end approaches, sellers became more anxious last week not to be stuck with excess uranium before books-close.By Greg PeelThe Christmas rush was on last week as sellers of uranium become more anxious not to be caught with excess uranium before books-close. Those missing out on recent spot market tenders were forced to reduce offers, leading industry consultant Tra...Read More
NexGen Energy's Arrow uranium deposit, at the Rook 1 property in Saskatchewan's Athabasca basin. Credit: NexGen EnergyVANCOUVER - With the release of the latest batch of assays from its Arrow uranium deposit at the Rook 1 property in Saskatchewan, NexGen Energy is getting closer to completing a feasibility study slated for the first half of next year.The latest assays, part of a 131-hole winter dr...Read More
Weekly Reports |Dec 10 2019After a solid run, the uranium spot price eased back slightly last week but activity remains robust.-Price slips, volumes solid-Working Group tid-bits leaking out-Milestone reached in FloridaBy Greg PeelThe spot uranium market took a breather last week in terms of price, but not in terms of volume. Industry consultant TradeTech reports seven transactions totalling 750,00...Read More
Weekly Reports |Dec 03 2019Volumes in uranium markets surged in November as buyers from all corners jumped on the bandwagon.-Spot uranium volumes up 50%-Uncertainties still linger-Swedes prefer greenBy Greg Peel"The month of November was tumultuous on a number of fronts for the nuclear fuel industry," notes industry consultant TradeTech. "The decision by the US government to lift the waiver on Ira...Read More
December2, 2019VANCOUVER, B.C. and TORONTO, ON- December 2, 2019 - NxGold Ltd. (TSXV: NXN) ("NxGold" or the "Company") and Mega Uranium Ltd. (TSX: MGA) ("Mega") are pleased to announce that, on December 1, 2019, they executed an arm's length binding term sheet (the "Term Sheet") which sets out the principal terms upon which it is proposed that NxGold will effect a change of business from a Tier 2...Read More
Weekly Reports |Nov 26 2019Despite caution surrounding Iran sanctions waivers, and other ongoing uncertainties, the spot uranium price last week reached US$26.00/lb for the first time in eight months.-Spot uranium hits eight-month high-One waiver on Iranian sanctions terminated-Buying continues unabatedBy Greg PeelLate last month the White House extended for ninety days waivers on Iranian sanction...Read More
Weekly Reports |Nov 20 2019The sudden burst of buying interest appearing two weeks ago in the uranium market continued last week as producers stepped in.-No news on Working Group report-U3O8 spot price jumps for a second week-Uranium producers join utilities on the buy-sideBy Greg PeelIn last week's Uranium Week I noted:"Clearly trade talks are again reaching a crescendo, so maybe November...Read More
SASKATCHEWAN - Forum Energy Metals reached an agreement with Orano Canada whereby it will grant to Orano a series of options to acquire up to a 70% interest in the Fir Island uranium project on the northeast margin of the Athabasca Basin.In a press release, the firms said that Orano has to spend $6 million on the property on or before Dec. 31, 2023, to earn the full 70% Interest. Prior to this, th...Read More
Weekly Reports |Nov 12 2019A sudden jump in buyer interest, and subsequently the uranium spot price, begs the question whether utilities have already begun their traditional buying ahead of year-end.-Spot uranium volumes and prices jump-Year-end buying?-President Trump's? Working Group report pendingBy Greg PeelThe week before last brought the announcement of a 90-day extension to waivers of...Read More