Uranium prices are regaining a healthy glow. For one, there’s a good deal of global demand, with some countries planning to build more reactors. Two, we have global leaders attempting to cut back on harmful emissions, which could increase dependency on uranium. According to Jon Bey, President and CEO of Standard Uranium, as quoted by Kitco.com, "We are starting to see countries around the world accepting nuclear energy. Those countries realize if they want to reach a carbon neutral future, nuclear energy has to be part of the equation.” Three, the world is running into a severe supply-demand issue. Even Cameco President and CEO Tim Gitzel has said, “Uranium supply is becoming less certain due to years of persistently low prices,” as quoted by S&P Global Platts. That being said, investors may want to keep an eye on uranium stocks, such as Skyharbour Resources (TSXV: SYH) (OTCQX: SYHBF), Cameco Corporation (TSX: CCO) (NYSE: CCJ), Uranium Energy Corporation (NYSE: UEC), Denison Mines Corp (TSX: DML) (NYSE: DNN), and Energy Fuels (NYSE: UUUU) (TSX: EFR).
Look at Skyharbour Resources Ltd. (TSXV: SYH) (OTCQX: SYHBF), For Example
Skyharbour Resources Ltd.’s partner company Azincourt Energy announced that approvals have been received for the upcoming winter drill program at the East Preston uranium project, in the Athabasca Basin, Saskatchewan, Canada.
Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://www.skyharbourltd.com/_resources/maps/Sky_EastPreston_20211209.jpg
Preparations continue for the winter program at the East Preston project. Permits and approval for the program have been received and Azincourt will continue to work with the Clearwater River Dene Nation (CRDN) and local communities to ensure opportunities for local businesses and employment are maximized.
Azincourt is planning an extensive drill program for the winter of 2022-2023, as reported in news releases dated July 28th, 2022, and October 20th, 2022. The program will consist of approximately 6,000 meters of drilling in 20+ diamond drill holes. The priority will be to continue to evaluate the alteration zones and elevated uranium identified in the winter of 2022 with a focus on the K and H Zones.
Key components of the program are road access, camp construction and diamond drilling. Preparing the access road is expected to commence immediately, with camp construction commencing by early January. Drill mobilization to site is expected in mid-January and the program is expected to be complete by the first week in April.
The primary target area on the East Preston Project is the conductive corridors from the A-Zone through to the G-Zone (A-G Trend) and the K-Zone through to the H and Q-Zones (K-H-Q Trend). The selection of these trends is based on a compilation of results from the 2018 through 2020 ground-based EM and gravity surveys, property wide VTEM and magnetic surveys, and the 2019 through 2022 drill programs. The 2020 HLEM survey indicates multiple prospective conductors and structural complexity along these corridors.
2022 Drill Target Areas at the East Preston Uranium Project:
https://www.skyharbourltd.com/_resources/images/2022-Drill-Holes-and-Target-areas-at-the-East-Preston-Uranium-Project.png
Drilling has confirmed that identified geophysical conductors comprise structurally disrupted zones that are host to accumulations of graphite, sulphides, and carbonates. Hydrothermal alteration, anomalous radioactivity, and elevated uranium have been demonstrated to exist within these structurally disrupted conductor zones.
“We’re eager to continue to explore these highly prospective corridors,” said Azincourt’s CEO, Alex Klenman. “Each program to date has continued to vector in the right direction. Last year for the first time we were able to delineate substantial zones of hematite alteration, some of it almost 200 meters wide. We started to get into the clays and hit some elevated zones of uranium enrichment. These are incrementally positive results, and we are hopeful targeting specific areas within these zones will continue to get us closer to impactful discovery,” continued Mr. Klenman.
Community Engagement:
Azincourt continues to be engaged in regular meetings with the Clearwater River Dene Nation and other rights holders to ensure that concerns of the local communities are addressed with regards to the East Preston project. Azincourt looks forward to a continued close working relationship with CRDN and other rights holders to ensure that any potential impacts and concerns are addressed and that the communities can benefit from activities in the area through support of local business, employment opportunities, and sponsorship of select community programs and initiatives. Local businesses are engaged to provide services and supplies and members of the Clearwater River Dene Nation and surrounding communities have been directly employed on site or to provide support and services to keep the camp and programs running.
Other related developments from around the markets include:
Cameco Corporation announced that the first pounds of uranium ore from the McArthur River mine have now been milled and packaged at the Key Lake mill, marking the achievement of initial production as these facilities transition back into normal operations. “McArthur River and Key Lake are among the best and most prolific uranium assets on the planet, and after building homes for these pounds in our long-term contract portfolio, we are delighted to have them back in production,” said Cameco president and CEO Tim Gitzel. “Market conditions have continued to strengthen since we announced their planned restart, with growing geopolitical uncertainty adding to energy security concerns worldwide, and the ongoing global emphasis on decarbonization and electrification only gaining momentum.”
Uranium Energy Corporation announced that the Texas Commission on Environmental Quality has approved the Company’s submission for a renewed and expanded radioactive material license for its Hobson Central Processing Plant. UEC’s amended RML from the TCEQ increases the Hobson Processing Plant’s licensed production capacity to 4 million pounds of U3O8 annually. This distinguishes the plant as having the largest licensed capacity in Texas and the second largest in the United States. The Hobson Plant anchors UEC’s hub-and-spoke in-situ recovery production platform in South Texas and will process uranium loaded resin recovered from multiple satellite projects including the Palangana and Burke Hollow ISR projects.
Denison Mines Corporation announced the successful completion of the neutralization phase of the Phoenix in-situ recovery Feasibility Field Test at the Company's 95% owned Wheeler River project. Sampling of monitoring wells around the FFT site has confirmed the successful restoration of the Leaching Zone (defined below) to environmentally acceptable pH conditions, as outlined in the applicable regulatory approvals for the FFT. The neutralization phase was initiated in mid-October 2022, following the highly successful completion of the leaching phase of the FFT, and was designed to confirm certain environmental assessment assumptions and verify the efficiency and effectiveness of the neutralization process planned for ISR mining at Phoenix.
Energy Fuels Inc., a leading U.S. producer of uranium and rare earth elements announced that it has entered into a definitive agreement to sell three wholly-owned subsidiaries that together hold Energy Fuels' Alta Mesa ISR Project to enCore Energy for total consideration of $120 million. The Transaction is expected to close by the end of 2022 or early 2023. The Transaction is significant for the Company, as the cash received is expected to fully finance much of the Company's uranium, REE, vanadium and medical isotope business plans for the next two to three years without diluting shareholders. Mark S. Chalmers, President and CEO of Energy Fuels stated: "This is a unique transaction for Energy Fuels. Not only does it allow us to monetize the Alta Mesa Project for $120 million, it allows our company to focus and accelerate our higher priority uranium and rare earth projects without dilution to our shareholders. This non-dilutive transaction will add cash to Energy Fuels' significant working capital position, which was $122 million at September 30, 2022. Energy Fuels will also retain some exposure to short-term market upside and optionality at Alta Mesa and enCore through the convertible note.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Skyharbour Resources Ltd. by Skyharbour Resources Ltd. We own ZERO shares of Skyharbour Resources Ltd. Please click here for full disclaimer.
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Ty Hoffer Winning Media281.804.7972Ty@wallstreetnation.com
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