Author: StockMan

Today in Review

Major market moves Markets

ASX 200 Session Chart The S&P/ASX 200 ( XJO ) finished points lower at , 0.41% from its session high and just 0.06% from its low. In the broader-based S&P/ASX 300 ( XKO ), advancers lagged decliners by 108 to 155.

The Gold ( XGD ) (+0.82%) sub-index was the best performing sector today, likely in response to a modest gain in the gold price overnight. Also doing well today was the Energy ( XEJ ) (+0.50%) sector which was boosted by a similar gain in the crude oil price. I’ll review interesting gold chart and one interesting energy chart in today’s ChartWatch . The best performing stocks from the Gold and Energy sectors today Doing it tough today was the Information Technology ( XIJ ) (-1.6%) sector, but the Communication Services ( XTJ ) (-1.0%) sector wasn’t great either. There’s a […]

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This story features BANNERMAN ENERGY LIMITED. For more info SHARE ANALYSIS: BMN

The uranium market remains in a state of uncertainty, awaiting geopolitical developments.

-Still no US sanctions of Russian uranium imports
-EU and others push nuclear power
-Spot price recovers slightly Geopolitical news continues to dominate the uranium market.Last week the Republic of Niger announced it intends to terminate its military cooperation agreement with the US, which has a large military base in Niger. It remains unclear if a withdrawal of US troops will be required by Niger, as the US military base is used to patrol a larger section of the Sahel region beyond Niger’s borders.Both Global Atomic Corp and GoviEx Uranium, which each operates a uranium project in Niger, released statements indicating this action would not hinder their ongoing mining efforts.In the US, Congress yet again passed an eleventh hour budget bill on Friday to stave […]

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Vancouver, British Columbia–(Newsfile Corp. – March 25, 2024) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce an update on the 2024 winter drilling program at its 100%-owned Gibbons Creek Uranium Project (" Gibbons Creek ", or the " Project ") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan. The second and third holes of the planned 6-hole program have intersected narrow intervals of uranium mineralization at or near the unconformity, based upon hand-held scintillometer readings on drill core, downhole gamma probe results, and visual observation of uranium minerals by ALX’s geological team.

Hole GC24-02 (180 degree azimuth / -75 degree dip) was drilled at the intersection of east-west and north-northwest faults interpreted from the 2023 ground magnetic survey and intersected fracture-controlled and disseminated blebs of uranium mineralization at 0.8 metres below the unconformity, which […]

Click here to view original web page at www.juniorminingnetwork.com

Uranium is just kicking back for the moment. Picture: Getty Images Uranium has headed to the substitute bench in recent weeks, with enthusiasm for copper, record gold prices and hopes of a lithium price rebound taking over from the glowing metal as the stories of the day.

A speculative bull run for uranium peaked at $US107/lb in January.

But despite claims from within the industry that a structural shortage of material would make rising spot prices hard to stop, new mine starts and murmurs of production upgrades from Canada’s Cameco combined to send U3O8 prices back to $US85.50/lb on Tuesday.

Is this the sign yellowcake’s cheerleaders got ahead of themselves, or just a bump in the road for the nuclear renaissance? For the latest mining news, sign up here for free Stockhead daily newsletters Sprott’s Jacob White is well and truly in the latter camp.“This retreat follows a historic rapid run for […]

Click here to view original web page at www.couriermail.com.au

C29’s entry into Kazakhstan has given us an excuse to share this picture of a Kazakh taking on a US horseman in the traditional Central Asian sport of Kok-Boru (goat dragging), in 2016. You’re welcome! Picture: EPA/Igor Kovalenko The renaissance of the ASX uranium sector in response to the surge in prices for the nuclear fuel has been missing one key element for local investors.

There has been no exposure to the Kazakhstan uranium industry, the world’s biggest by a factor of three, and one based on the low-impact and low-cost in-situ recovery (ISR) method of extraction.

But fear not, the exposure void for local investors is being filled by ASX-listed and WA-based explorer C29 Metals ( ASX:C29 ) .

For the latest resources news, sign up here for free Stockhead daily newsletters The company has struck a deal to acquire the Ulytau uranium project near the historic Bota-Burum, one of […]

Click here to view original web page at www.cairnspost.com.au

Sprott Asset Management uranium supply shortage concerns Global precious metals and critical materials investment specialist Sprott Asset Management has highlighted the growing global uranium supply uncertainties facing the nuclear industry.

In its latest uranium report labelled “Uranium Bull Market Takes a Healthy Pause”, Sprott said that, while there have been a number of recent uranium mine restarts, current supply is significantly below the world’s uranium reactor requirements.

It also noted that secondary supplies that have filled in supply gaps in the past are no longer available for sale.

A report written by Jacob White, an exchange traded fund product manager at Sprott, suggested the correction in February uranium markets experienced following a rapid run-up was merely a healthy pause in the ongoing uranium bull market.The report also highlighted the recent news that leading international uranium suppliers Kazatomprom and Cameco have revealed they are having issues meeting their previous production guidances. Re-energising the […]

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A miner stands in front oh an excavator at a mine site ASX uranium shares are enjoying a strong run this week.

While that’s par for the course over the past calendar year, uranium stocks came under selling pressure in February and into early March amid a 20% plus fall in uranium prices in just six weeks.

Of course, that retrace came on the back of uranium hitting 16-year highs in February.

While still below those highs, the price was back to US$88.50 per pound yesterday, up from US$83.10 a week earlier. The radioactive metal averaged $66.60 per pound in 2023, according to Bloomberg.As you’d expect, the past week’s price increase has rekindled investor interest in ASX uranium shares.Here’s how these five leading companies have performed since the opening bell on Monday: Paladin Energy Ltd ( ASX: PDN ) shares are up 9.4% Bannerman Energy Ltd ( ASX: BMN ) shares are […]

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Along with lithium , uranium (UXJ24) has emerged as one of the most critical minerals of our times. With widespread applications in sectors like energy , medicine, industrial, and military, the global uranium market size is projected to touch $11.39 billion by 2030 . Moreover, a report by Statista indicates that global demand for uranium will be 209 million pounds by 2035 – and that the supply of uranium is expected to drop over time.

And this sentiment is shared by the world’s largest uranium company, as well.

Kazatomprom (NATKY) , which produced 11,373 metric tons of uranium in 2022 (out of Kazakhstan’s total of 21,227 metric tons), sent spot uranium prices soaring when it said last week, "In the current pricing environment another Kazatomprom-sized supply source will be needed to cover future market needs." This comes on the heels of the company’s cautious note earlier in the year, when it […]

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‘Garimpeiro’ columnist Barry FitzGerald has covered the resources industry for +35 years. share

The renaissance of the ASX uranium sector in response to the surge in prices for the nuclear fuel has been missing one key element for local investors.

The missing element has been exposure to the Kazakhstan uranium industry, the world’s biggest by a factor of three, and one based on the low-impact and low-cost in-situ recovery (ISR) method of extraction.

But fear not, the exposure void for local investors is being filled by ASX-listed explorer C29 Metals (ASX:C29) .The company has struck a deal to acquire the Ulytau uranium project near the historic Bota-Burum, one of the biggest Soviet era mines – Kazakhstan gained independence in 1991 – in the south of the country.The project comes with a historic high-grade estimate (it is not a JORC compliant resource estimate) of 9.85 million pounds grading 2,790ppm in what incoming […]

Click here to view original web page at stockhead.com.au

VANCOUVER, BC / ACCESSWIRE / March 20, 2024 / North Shore Uranium Ltd. (TSXV:NSU) (" North Shore " or the " Company ") is pleased to announce that it has completed a maiden drill program at its 55,699 hectare Falcon Property (" Falcon " or the " Property ") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. During the program, three targets were drilled along a strong, dominantly northeast-trending electromagnetic ( "EM" ) conductor system, P03, P08 and P12 (Table 1 and Figures 1 and 2). At P03 and P08 the targeted sub-vertical EM conductors were intersected. At P12, the hole had to be terminated prior to reaching the interpreted conductor depth. Highlights from the program include: Radioactivity. Elevated total count gamma probe readings were obtained at targets P03 and P08 with a maximum value of 2695 counts per second (" cps ") at P03.

[…]

Click here to view original web page at markets.businessinsider.com

C29’s entry into Kazakhstan has given us an excuse to share this picture of a Kazakh taking on a US horseman in the traditional Central Asian sport of Kok-Boru (goat dragging), in 2016. You’re welcome! Picture: EPA/Igor Kovalenko The renaissance of the ASX uranium sector in response to the surge in prices for the nuclear fuel has been missing one key element for local investors.

There has been no exposure to the Kazakhstan uranium industry, the world’s biggest by a factor of three, and one based on the low-impact and low-cost in-situ recovery (ISR) method of extraction.

But fear not, the exposure void for local investors is being filled by ASX-listed and WA-based explorer C29 Metals ( ASX:C29 ) .

For the latest resources news, sign up here for free Stockhead daily newsletters The company has struck a deal to acquire the Ulytau uranium project near the historic Bota-Burum, one of […]

Click here to view original web page at www.couriermail.com.au

Pic: Via Getty share

Mining major MinRes inks deal to farm into Lord Resources’ Horse Rocks project

C29 inks deal to buy the Ulytau uranium project in southern Kazakhstan

Junior explorer Parabellum has pulled up several “very encouraging” high grade, near surface nickel-cobalt hits Here are the biggest small cap resources winners in early trade, Wednesday March 20. LORD RESOURCES (ASX:LRD) Serial lithium acquirer MinRes (ASX:MIN) is at it again, inking a deal to farm into Lord Resources’ (ASX:LRD) early stage Horse Rocks project near the 66Mt Mt Marion mine.The terms of the deal – MIN will spend $1m to earn an initial 40% of the project – aren’t exactly transformative for LRD, but the market likes it in early trade Tuesday.If the deal goes ahead, MIN can increase its stake to a total of 85% by funding the project through to a decision to […]

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Pic: Image Source/DigitalVision share

Uranium price retreat an “attractive entry point” for investors says Sprott

Perseus gains support of OreCorp bigwigs in battle for control of Tanzanian goldie

Distressed mineral sands stock Sierra Rutile faces takeover bid from big shareholderUranium has headed to the substitute bench in recent weeks, with enthusiasm for copper, record gold prices and hopes of a lithium price rebound taking over from the glowing metal as the stories of the day.A speculative bull run for uranium peaked at US$107/lb in January.But despite claims from within the industry that a structural shortage of material would make rising spot prices hard to stop, new mine starts and murmurs of production upgrades from Canada’s Cameco have combined to send U3O8 prices back to US$85.50/lb yesterday.Is this the sign yellowcake’s cheerleaders got ahead of themselves, or just a bump in the road for the nuclear renaissance?Sprott’s Jacob White […]

Click here to view original web page at stockhead.com.au

The push towards a net zero world has revitalised discussions about nuclear energy. Most of the world quickly lost interest in nuclear energy after the Fukushima disaster in 2011, which led the closure of uranium mines and a lack of investment in new ones. The economics just didn’t stack up at depressed uranium prices due to the lack of demand. However, investors didn’t predict the revitalisation of interest in this form of energy, which has led to a large and expanding supply gap.

Many countries have now realised that nuclear energy is needed to aid the ambitious clean energy targets, with many policy shifts by major countries. This caused a wave of sentiment, pushing spot prices up from US$50/lb in March 2023 to over $100 in January 2024. 1 Whilst spot prices have dipped slightly to below $95, many would think that they have missed this uranium bull run. But […]

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The spot uranium price fell sharply last week as sellers became more agitated.

-Uranium spot price falls -US$7/lb
-Kazatomprom warns of lack of inventory
-Still no news on Russian uranium sanctions

Industry consultant TradeTech’s weekly uranium spot price indicator last week fell -US$7.00 to US$86.00/lb and is now down -19% from its US$107/lb peak earlier this year.The price remains at a 16-year high and is up 72% year on year, and 385% above the decade-low seen in 2016.The recent price fall is attributed to two main factors, TradeTech notes, and they are both related to the psychological impact of triple digits.When the spot price crossed the US$100/lb mark, utilities, who are not major spot market participants at the best of times, declined to buy at such prices. Speculative entities, now holding vast amounts of physical material, saw triple digits as a good place to take profits, having spent years […]

Click here to view original web page at fnarena.com

Cast your mind back, not into the dim, dark recesses of your memory but just a little, to shortly after we emerged from the COVID-19 pandemic.

Two years ago, in February, when Vladimir Putin embarked on his ill-advised and misguided invasion of Ukraine – a conflict he claimed would be completed within a week – global trade links were jolted and energy supplies interrupted.

The resulting fuel shortages across Europe proved to be a volatile accelerant to a troublesome inflation outbreak which emerged just as the world economy was waking up from its enforced slumber.

Two years later, after one of the most blistering rounds of interest rate hikes in memory, we’re still dealing with the aftermath.Retail fuel and electricity prices remain elevated despite a collapse in global oil, coal and gas prices and continue to prop up stubbornly high inflation levels.If there was a silver lining in the events of the […]

Click here to view original web page at www.abc.net.au

A paltry 5.5 point bounce in the S&P/ASX 200 did little to reverse last week’s 177 point slump. But scratch the surface and there were some promising moves in base metals, lithium, and uranium stocks which respectively, enjoyed modest rallies in the prices of their underlying commodities.

Banking stocks also bounced back, but it will likely continue to be a case of "steady as she goes" ahead of one of the biggest weeks on 2024’s economic calendar. Interest rate decisions in Australia, Japan, and the US, as well as a slew of other important data, will likely dominate investor thinking…and risk appetite!

Let’s dive in! Markets

S&P ASX 200 (XJO) Intraday Chart 18 Mar 2024 ASX 200 Session ChartThe S&P/ASX 200 ( XJO ) finished 5.5 points higher at 7,675.8, 0.44% from its session low and just 0.05% from its high – a welcome close near the high of the […]

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A smiling businessman in the city looks at his phone and punches the air in celebration of good news. Bannerman Energy Ltd ( ASX: BMN ) shares are starting the week in a positive fashion.

In morning trade, the ASX uranium stock is up 8% to $3.24. Why is this ASX uranium stock racing higher?

Investors have been scrambling to buy the company’s shares this morning after it released the results of a scoping study .

Bannerman’s study was evaluating future higher throughput and operating life cases for its flagship Etango Uranium Project in Namibia.Management notes that two future phase options have been evaluated. These are a post ramp-up expansion in throughput capacity to 16 Mtpa (known as Etango-XP) or an extension of operating life to 27 years (known as Etango-XT).Outside this, the company remains committed to advancing Front End Engineering and Design (FEED), offtake marketing, and strategic financing workstreams on […]

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In response to escalating global demand for nuclear fuel, previously dormant uranium mines across the United States and allied nations are springing back to life. At least five American producers are reigniting operations in states such as Wyoming, Texas, Arizona, and Utah, regions once bustling with uranium production until the aftermath of the 2011 Fukushima nuclear disaster prompted governments to reassess their stance on nuclear energy.

Following Fukushima, a sharp downturn in uranium prices led to the closure of numerous American mines, compounded by initiatives in countries like Germany and Japan to phase out nuclear power. However, with governments increasingly turning to nuclear energy to combat climate change and major uranium producers grappling to meet demand, prices for the vital metal are soaring, providing a new lease on life for once-unprofitable mines and bridging supply gaps. Uranium, a cornerstone of energy production for over six decades, fuels nuclear power plants […]

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Uranium mining Western Australia Libby Mettam politics Just days after Federal Liberal party leader Peter Dutton came out in hard-hitting support of nuclear power , his Western Australian counterpart has backed a return to uranium mining in her state.

Opposition leader Libby Mettam has confirmed that uranium miners would be able to proceed through the same environmental approvals as other minerals if she is elected as leader of the WA government in 2025.

With uranium mining prohibited by the WA government since 2017, the news has buoyed the hopes of a number of companies that have uranium contained in their exploration permits.

The potential mining of the energy metal is particularly attractive at the moment, with uranium prices rocketing this year on growing nuclear power usage around the globe.Currently sitting at around A$131 per pound, analysts are predicting spot price targets of around A$160 per pound by year-end and A$175 in 2025. […]

Click here to view original web page at smallcaps.com.au

Vancouver, British Columbia–(Newsfile Corp. – March 14, 2024) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that a diamond drilling program has commenced at its 100%-owned Gibbons Creek Uranium Project (" Gibbons Creek ", or the " Project ") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan. Drilling in up to six (6) holes totaling approximately 1,200 metres is planned and is anticipated to continue until the end of March 2024.

The 2024 winter drilling program at Gibbons Creek (see Figure 1) is designed to test for unconformity-type and basement-hosted uranium mineralization in the eastern area of the Project. Weather conditions are satisfactory for the mobilization of equipment and personnel and the work is proceeding as scheduled. Proximity to the community and infrastructure of Stony Rapids adds greatly to the efficiency of the exploration program. […]

Click here to view original web page at www.juniorminingnetwork.com

A West Australian Liberal government would overturn a ban on uranium to create thousands of new jobs and diversify the local economy, but party leader Libby Mettam has insisted the state is not ready for nuclear power.

Ms Mettam said overturning the ban, which was implemented in 2017 by the McGowan Labor government, would allow the state to capitalise on surging uranium prices and help WA become a hub for nuclear technology. WA Liberal leader Libby Mettam: Overturning a uranium mining ban would not “throw the doors wide open” to nuclear power generation.. Trevor Collens “Government needs to be behind and support industry, not leading the charge with ideologues opposed to mining. We must stop our approvals processes from being hijacked by activists,” she said.

“Embracing uranium mining in WA is a strategic move that not only addresses our economic needs but also positions us as pioneers in the global transition […]

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Zinger Key Points Production of up to 1 million pounds a year of uranium ore concentrate could start in two years.

Amid uranium price rally, miners have been scrambling to increase production capacity.

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Colorado-based uranium miner Ur-Energy Inc. URG said Wednesday it will build out its Shirley Basin mine in Wyoming, making it the latest company to move projects forward as the price of the nuclear fuel soars.The development will nearly double the company’s permitted mine production capacity to 2.2 million pounds. The project is wholly owned by the company and fully permitted and licensed in Carbon County, Wyoming."This decision was based on our growing uranium sales contract book, a strong uranium market price and an expectation of growing demand for uranium as nations increasingly move toward clean nuclear power," the company said.At Shirley Basin, Ur-Energy plans to build a plant capable of producing up to 1 million pounds […]

Click here to view original web page at www.benzinga.com

The Olympic Dam mine in South Australia. Credit: Fairfax Media via Getty Images. Australia, known for its vast landscapes and rich mineral resources, stands at the forefront of global uranium production. As the world’s fourth-largest producer of uranium behind Kazakhstan, Canada and Namibia, Australia plays a pivotal role in fuelling the world’s nuclear power plants. However, recent developments and emerging trends hint at changes for the future of uranium mining in the country.

Australia’s uranium mining industry has deep roots dating back to the 1950s, when significant quantities of uranium were exported to the UK and US for nuclear weapons development. The country’s abundant uranium deposits, concentrated mainly in South Australia, Western Australia and the Northern Territory, have attracted significant investment and interest from both domestic and international stakeholders.

Despite fluctuations in market demand over the years, Australia has maintained a steady position as a reliable uranium supplier to global markets. […]

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Premium Uranium Firms Revive Forgotten Mines as Price of Nuclear Fuel Soars (Bloomberg) — Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.

At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.

Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.

Now, with governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.Uranium has been used as an energy source for more than six decades, […]

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