Uranium prices are up about 40% since Russia invaded Ukraine. While the war has no immediate impact on global supplies of uranium, there are “signs a few countries in Europe may shift their stance on nuclear power and maintain existing reactors longer, or possibly build new ones sooner as they look to diversify away from Russian [natural] gas,” said Jonathan Hinze, president at UxC, as quoted by Barron’s. Moreover, the world’s dependence on Russian uranium, and the uranium of those countries in Russia’s orbit of influence such as Kazakhstan and Uzbekistan – representing about 50% of production – is potentially at risk through the prospect of retaliatory sanctions. Finally, President Biden’s Administration supports nuclear energy to help the country achieve net-zero carbon goals. Even Japan just said it wants to get nuclear reactors back online to meet green targets. All could continue to be beneficial for companies such as Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF), Uranium Energy Corp. (NYSE: UEC), Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR), NexGen Energy Ltd. (TSX: NXE) (NYSE: NXE), and Ur-Energy Inc. (TSX: URE) (NYSE: URG).
Look at Anfield Energy Inc. (TSXV: AEC) (OTCQB: ANLDF), For Example
Anfield Energy Inc. announced that it has commenced a comprehensive review of its conventional uranium assets, including the Shootaring Canyon Mill, the Velvet-Wood mine and the West Slope properties, in order to identify and advance an optimal long-term conventional uranium and vanadium production plan through the utilization of these assets. To meet this goal, the Company has, therefore, engaged BRS Engineering, McNulty & Associates and Wright Environmental Services. The review will include the following criteria:
1) The cost of, and timeline to, partial and/or full refurbishment of the Shootaring Canyon Mill;
2) A confirmation of the underlying economics and potential production timeline related to the Velvet-Wood Mine;
3) An economic assessment and potential production timeline related to Anfield’s West Slope properties; and
4) The permitting and regulatory milestones tied to each of the identified assets and an optimal production path through their use.
Corey Dias, Anfield CEO, stated, “The past few weeks and months have served as a reminder of the fragility of global supply chains; moreover, recent events in Eastern Europe have exacerbated the inherent geopolitical risk of supply and demand in the uranium sector. Given current circumstances, we believe that operating in a safe and stable jurisdiction such as the U.S. is a critical advantage and an attractive prospect for those seeking uranium production from a reliable source. Moreover, the West Slope project possesses a significant vanadium endowment which, like uranium, is a key transition metal to the low-carbon economy. Anfield’s ownership of one of only three licensed, permitted and constructed conventional uranium mills in the U.S. is a significant differentiator in the competitive uranium production landscape”.
Other related developments from around the markets include:
Uranium Energy Corp. provided the following letter to its shareholders on the outlook for the Company in 2022 from President and CEO, Amir Adnani. “2022 begins with the highest uranium price in a decade and a positive global outlook for nuclear energy not seen in a generation. For UEC, we have begun 2022 positioned as the leading American uranium mining company. This follows our $112 million cash acquisition of Uranium One Americas that has endowed us with two operational hub and spoke production platforms and seven licensed and low cost In-Situ-Recovery (“ISR”) uranium projects. Earlier this month, we reached another important milestone, becoming debt free, and also reporting a strong balance sheet of approximately $125 million of cash and liquid assets. These positive industry and corporate developments have been years in the making and, whether you are a new or long-term shareholder, your ownership of UEC is sincerely valued and I thank you on behalf of our team and our Board of Directors.”
Energy Fuels Inc. reported its financial results for the year ended Dece+mber 31, 2021. Mark S. Chalmers, Energy Fuels' President and CEO, stated: "In 2021, we believe Energy Fuels further strengthened its position as America's leading multi-commodity, critical mineral company, as we made excellent progress on our uranium, REEs, vanadium and medical isotope initiatives. We are deploying our 'one-of-a-kind' licenses, facilities, and expertise to responsibly recover the critical elements needed for carbon-free nuclear energy, electric vehicle powertrains, wind generation, advanced electronics, grid-scale batteries, other clean energy and advanced technologies, and potentially cancer therapeutics.”
NexGen Energy Ltd. was approved for uplisting on the New York Stock Exchange from its current listing on the NYSE American LLC. Leigh Curyer, Chief Executive Officer commented: "The uplisting on the NYSE is a major corporate milestone for NexGen in creating long-term value and an expansion of our global shareholder base. This listing is a demonstration of NexGen's corporate governance standards, size, liquidity and exceptional value proposition offered to global investors allocating capital to elite ESG entities at a time the demand for reliable and sustainable clean air energy fuel is undergoing a generational transition."
Ur-Energy Inc. filed the Company's Annual Report on Form 10-K, Consolidated Financial Statements, and Management's Discussion & Analysis, all for the year ended December 31, 2021. Ur-Energy CEO, John Cash said: "We are encouraged by the dramatic increase in domestic and global support for nuclear power, as it is increasingly recognized as the only plausible solution to climate change. Ur-Energy is in the enviable position of being able to quickly ramp up and participate in an improving uranium market and, in addition, we could immediately deliver up to 284,000 pounds U3O8 into the Uranium Reserve Program, currently being established by the U.S. Department of Energy. On March 3, 2022, we had $44.7 million in cash, plus our ready to sell U.S. produced inventory, worth approximately $14.4 million at recent spot prices. Additionally, we continue to advance the construction of header house 2‑4 to expedite production when market signals allow us to ramp up at Lost Creek."
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. Anfield Energy Inc. paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of Anfield Energy Inc. Please click here for disclaimer.
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