Weekly Reports |Nov 05 2019The White House has extended waivers on Iran sanctions to companies working in Iran's civil nuclear program for ninety days.-Iran sanctions waivers extended-Uncertainty lingers for uranium-Demand to pick up?By Greg PeelAside from waiting for the recommendations of President Trump's nuclear cycle Working Group and any news on the Russian suspension agreement, the...Read More
Plan view of the Phoenix zone A with the ISR test sites indicated. (Image: Denison Mines)SASKATCHEWAN - Denison Mines Corp. of Toronto has installed two ISR wells at the Phoenix uranium deposit at the Wheeler River property near the southeast part of the Athabasca Basin. Denison holds a 90% interest in the project, and JCU (Canada) Exploration Co. holds the remaining 10%.In announcing the news, De...Read More
SASKATCHEWAN - UEX has intersected new uranium mineralization at its 60%-owned Christie Lake project, 9 km northeast of Cameco's McArthur River uranium mine in Saskatchewan.The project hosts the Paul Bay, Ken Pen and Orora uranium deposits, which have a total inferred resource of 588,000 tonnes with an average grade of 1.57% U3O8 for 20.35 million contained lb. of uranium oxide. The Paul Bay, K...Read More
Weekly Reports |Oct 29 2019The uranium market remains in a state of flux due to policy uncertainty. Sellers became more anxious last week.-Iran waiver deadline looms-Sellers jumping over each other-Paladin moves forward on Langer Heinrich restartBy Greg PeelIndustry consultant TradeTech sums it up succinctly in suggesting the uranium market is currently "frozen by uncertainty". Last week was the f...Read More
The Fission family has over a dozen projects around the rim of the Athabasca Basin. (Image: Fission 3.0)SASKATCHEWAN - Fission 3.0 Corp., based in Kelowna, B.C., has had excellent uranium and gold results from prospecting at Beaver River property on the north-central rim of the Athabasca Basin. The highest grades came from the newly named Trigger zone in the northeast part of the property.Samples...Read More
Weekly Reports |Oct 15 2019The global uranium market will have to wait at least another 30 days before Trump's Working Group delivers the report the market has been hanging out for.-Climate change in focus-Working Group report delayed-Spot market falls quietBy Greg Peel"Finding the right approach to long-term, economic, and reliable electricity supply is the central challenge to the decarboniz...Read More
At a time when an increasing number of citizens are pressing for immediate climate action, every form of energy that can reduce greenhouse gas emissions needs to be considered. Only the right mix of energy sources will enable the world to reach the targets set out in the Paris Agreement to limit climate change. This is what high level speakers said today during the opening of the International Con...Read More
All tails at the Rook I uranium project will be returned to the underground mine as paste fill. (Image: NexGen Energy)SASKATCHEWAN - Vancouver-based NexGen Energy has released new assays from its phase one drill program at the Arrow uranium deposit on the southwest rim of the Athabasca Basin. The highest results were 33.78% uranium oxide over 12.0 metres and 32.88% over 8.0 metres.The 20 recent ho...Read More
Weekly Reports |Oct 08 2019Going nowhere. Uranium prices continue to rise and fall but it remains a case of failure to launch.-Anticipated demand still absent-Spot prices remain range-bound-Australia ponders nuclear energyBy Greg PeelExpectations that sustained uranium demand from utilities and producers would materialise in 2019 are yet to be proven accurate, with several potential buyers pre-occ...Read More
Weekly Reports |Oct 01 2019It was another slow week in the uranium market, while Macquarie has dissected the demand/supply equation going forward.-Cuts on both demand and supply sides-Uranium supply surplus to continue-Activity again subsidesBy Greg PeelMacquarie Group's commodity analysts estimate global uranium demand, from power generators and investors combined, will fall -1.9% in 2019 and...Read More
The Triple R deposit contains five mineralized zones over a length of 3.18 km. (Image: Fission Uranium)SASKATCHEWAN - Fission Uranium of Kelowna, B.C., says the results of the pre-feasibility study for on an underground only development represent a savings in both capex and construction time for the Triple R deposit compared to an earlier study of both open pit and underground mining.The PFS for F...Read More
Proposed site plan for the Wheeler River uranium project in Saskatchewan. (Image: Denison Mines)SASKATCHEWAN - Denison Mines of Toronto says the test results of in situ recovery of uranium from the Wheeler River project are positive. Denison is the 90% owner and operator of the project located in the eastern part of the Athabasca Basin, and JCU (Canada) Exploration Co. holds the remaining 10%.The...Read More
Weekly Reports |Aug 27 2019News that Kazakhstan intends to extend production reductions through 2021 sparked a return to buying interest in both the spot and term uranium markets last week.-Kazatomprom extends production cuts-Market interest returns after a dead August to date-No new Japanese restarts in 2019By Greg Peel"Kazatomprom does not expect to return to full production until a sustained ma...Read More
Plateau Energy Metals (TSXV: PLU) has lost its appeal to overturn a decision by the Instituto Geol??gico Minero y Metal??rgico (INGEMMET) to cancel 32 of its 149 concessions in Peru. INGEMMET is an agency under Peru's Ministry of Energy and Mines (MINEM).The 32 concessions represent 231 sq. km, or less than 25%, of Plateau's 930-sq.-km land package in Peru. Of the 32 concessions, one affects the...Read More
The aurora borealis over Great Bear Lake where several old mine sites on the eastern shore are to be remediated. (Image: Reuters)YELLOWKNIFE, NWT - The federal government has announced it will invest $2.2 billion over the next 15 years for the cleanup of various mine sites in the Yukon and Northwest Territories.The announcement was made by the Hon. Carolyn Bennett, Minister of Crown-Indigenous Rel...Read More
The shallow Triple R uranium deposit stretches over 3.18 km and has the potential to grow. (Image: Fission Uranium)SASKATCHEWAN - Fission Uranium of Kelowna, B.C., has received the assays from the winter 2019 drill program at the Patterson Lake South property in the southwest rim of the Athabasca Basin. The company says the results confirm the potential to expand the high grade uranium resources a...Read More
Weekly Reports |Aug 06 2019Traders are the only ones playing the uranium market at present as the August summer break begins.-Court appeal against Yeelirrie rejected-Utilities remain on sidelines-Uranium prices going nowhereBy Greg PeelNews from the Australian uranium market last week is that the Western Australian Court of Appeal has dismissed an attempt to overturn state approval for the Yeelirr...Read More
Weekly Reports |Jul 30 2019With section 232 uncertainty finally put to rest, nuclear utilities remain out of the market as they prepare submissions for the president's nuclear Working Group.-No utility interest for spot uranium last week-Rush on to prepare submissions-Cameco to continue with spot purchasesBy Greg PeelIt was hoped that once the section 232 decision was settled one way or the ot...Read More
The location of the Triple R deposit on the rim of the Athabasca Basin. (Image: Fission Uranium)SASKATCHEWAN - Fission Uranium of Kelowna, B.C., is looking at an underground only option for mining its Patterson Lake South property on the southwest edge of the Athabasca Basin. Potential benefits of such a plan include low operating costs, lower capex and reduced construction time - all of which add...Read More
Yellow Cake PLC (LON:YCA) has reported a net asset value of 218p per share as at 30 June 2019.The valuation is derived primarily from a holding of 9.2mln pounds of physical uranium, worth US$24.70 at prevailing spot prices, but acquired at an average price of US$21.8 per pound.WATCH: Price pullback gives Yellow Cake good opportunity to acquire additional uraniumThe total portfolio valuat...Read More