Uranium generates one tenth of the word’s electricity and is seeing a surge of interest from retail traders and money managers. And this company may have just located a new target.
Initial results from Searchlight Resources Inc. (TSXV:SCLT)(OTC PINK:CNYCF) high-resolution aeromagnetic and radiometric surveys on the Company's Kulyk Lake Rare Earth Element project are showing significant and previously unknown thorium and uranium targets.
Uranium is used to power commercial nuclear reactors that produce electricity. There has been strong demand for uranium, with demand from both utility and non-utility buyers, sending weekly spot prices up significantly.
U.S.-trade shares were trading up in early afternoon trade at $0.0235.
