ASX 200 futures are trading 2 points higher, up 0.02% as of 8:30 am AEDT.

Major US benchmarks kicked off April on a weaker note, bond yields climb on stubborn US inflation data and a jump in manufacturing activity, gold prices hit another all-time high as the Fed-fuelled rally continues, oil prices settle at a 5-month high on tighter supply outlook, China’s manufacturing data is at its most robust level in 13 months, uranium stocks soared overnight and Austal is the latest M&A receipt.

Let’s dive in. Overnight Summary

Tue 02 Apr 24, 8:28am (AEDT) Name Value % Chg Major Indices S&P 500 5,244 -0.20% Dow Jones 39,567 -0.60% NASDAQ Comp 16,397 +0.11% Russell 2000 2,103 -1.02% Country Indices Canada 22,185 +0.08% China 3,077 +1.19% Germany 18,492 +0.08% Hong Kong 16,541 +0.91% India 74,015 +0.49% Japan 39,803 -1.40% United Kingdom 7,953 +0.26% Name Value % Chg Commodities (USD) Gold […]

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The largest uranium producer in the United States is ramping up work just south of Grand Canyon National Park on a long-contested project that comes as global instability and growing demand drive uranium prices higher.

The Biden administration and dozens of other countries have pledged to triple the capacity of nuclear power worldwide in their battle against climate change, and policy changes are being adopted by some to lessen Russia’s influence over the supply chain.

But as the U.S. pursues its nuclear power potential, environmentalists and Native American leaders remain fearful of the consequences for communities near mining and milling sites in the West and are demanding more regulatory oversight.

BIDEN ADMIN TO PROVIDE $1.5B LOAN TO RESTART MICHIGAN NUCLEAR PLANT The new mining at Pinyon Plain Mine near the Grand Canyon is happening within the boundaries of the Baaj Nwaavjo I’tah Kukv National Monument that was designated in August by […]

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The largest uranium producer in the United States is ramping up work just south of Grand Canyon National Park on a long-contested project that comes as global instability and growing demand drive uranium prices higher.

The Biden administration and dozens of other countries have pledged to triple the capacity of nuclear power worldwide in their battle against climate change, and policy changes are being adopted by some to lessen Russia’s influence over the supply chain.

But as the U.S. pursues its nuclear power potential, environmentalists and Native American leaders remain fearful of the consequences for communities near mining and milling sites in the West and are demanding more regulatory oversight.

The new mining at Pinyon Plain Mine near the Grand Canyon is happening within the boundaries of the Baaj Nwaavjo I’tah Kukv National Monument that was designated in August by President Joe Biden. The work was allowed to move forward since Energy […]

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Dasa Uranium Project Remains on Schedule to Produce Yellowcake in Q1 2026

HIGHLIGHTS

Dasa Uranium Project – Mineral Resource Estimate On May 23, 2023, the Company announced the completion of an updated Mineral Resource Estimate ("MRE") for the Dasa Project. The MRE includes the results of a 16,000-meter drill program that was designed to convert Inferred Resources to Indicated Resources and resulted in a 50% increase in Indicated Resources at a 1,500-ppm cut-off grade.

Dasa Uranium Project – Off-take Agreements In 2023, the Company formalized three off-take agreements with major North American utilities for the delivery of 1.4 million pounds U 3 O 8 per year for the first five years of mining. These off-take agreements represent a small percentage of the current 68.1 million pounds of production in the new 23.75-year Mine Plan and provide the Company with the ability to repay the debt financing facility, […]

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Mr. George Sookochoff reports:

Crackingstone Highlights Property cover 5kms of Black Bay Shear Zone which hosts several past producing uranium mines

Historic grab samples at uranium showings (%U3O8); Beck 93-12.53%; Beck 102-5.2% Beck 91 -2.86%

Belmont 2008 Drilling DH-C14 intercepted 2.09% U3O8 over 0.3 m and 0.87% U3O8 over 0.5 m within 1.18% U3O8 over 0.9 m from 49.1 to 50.0 m. Ground Spectrometer surveying outlined a radioactive zone 1km long and 300m wide with CPS readings ranging from 400-65,000 cps. No less than 3 major conductive structural corridors associated with Uranium occurrences identified totaling 10 kms, with 2 areas of fault intersections being prime locations for uranium mineralization March 27, 2024 -Vancouver, B.C., Canada – Belmont Resources Ltd. (“Belmont” or the “Company”) (TSX.V: BEA; FSE: L3L2) is pleased to announce plans for a 2024 exploration and drilling program on its Crackingstone Uranium project […]

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VANCOUVER, British Columbia, March 26, 2024 (GLOBE NEWSWIRE) — Standard Uranium Ltd. (“ Standard Uranium ” or the “ Company ”) ( TSX-V: STND ) ( OTCQB: STTDF ) ( Frankfurt: FWB:9SU ) is pleased to announce it held its Annual General and Special Meeting of Shareholders (the “Meeting”) on March 26, 2024.

At the Meeting, shareholders voted in favour of all business items including setting the number of directors at six (6) and the re-election of directors: Jon Bey, Neil McCallum, Mike Young, Zoya Shashkova, Blair Jordan and Kenneth Judge. Furthermore, the shareholders have approved the re-appointment and remuneration of Manning Elliott LLP as the Company’s auditor for the ensuing year, the re-approval of the Company’s Omnibus Plan, and the approval of continuance resolution set out in Schedule “C” of the Company’s information circular.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy […]

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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 […]

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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 […]

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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 […]

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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 […]

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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.

[…]

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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 […]

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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 […]

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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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