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The world’s largest uranium producer, Kazatomprom cuts FY25 guidance sparking a flame under uranium stock prices.

-Kazatomprom cuts FY25 production guidance
-Sulpuric acid supplies remain problematic
-Share prices rally in response -U308 spot market flat on the week Uranium production challenges, how bad is it? The big news of the week came in the form of Kazatomprom’s cut to FY25 production guidance last Friday (August 23).Kazatomprom flagged construction delays at new developed deposits and a shortage of sulphuric acid as the reasons for a lowered guidance to 55mlbs-68.9mlbs of U308 from 79.3mlbs-81.9mlbs.Sulphuric acid supplies are being impacted from delays in new acid plants, increased competition from the fertiliser industry and trade restrictions, industry consultant TradeTech highlights.Morgan Stanley highlights revised guidance still represents a 12% increase on 2024. The announcement was in line with the broker’s […]

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Electricity – Fusion power generation by Mesh Cube via iStock Valued at $791.8 million by market cap, Energy Fuels (UUUU) is engaged in the extraction, recovery, recycling, exploration, and sale of uranium mineral properties in the U.S. It produces and sells vanadium pentoxide, rare earth elements , and heavy mineral sands, such as zircon and monazite. www.barchart.com Energy Fuels has trailed the broader markets by a wide margin in the past decade, falling over 35% . Let’s see if the uranium stock is a good buy at current multiples. How Did Energy Fuels Perform in Q2 of 2024?

Energy Fuels is focused on capitalizing on uranium market opportunities, as it profitably sold an additional 100,000 pounds of the commodity on the spot market and signed a new long-term sales contract with a U.S. nuclear facility at supportive pricing in Q2 of 2024. It mined uranium from three conventional […]

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Local markets opened higher this morning, and then kept on climbing for the first 90 minutes of the session, heading steadily to +0.7% before levelling off before lunch.

The reason for the market’s upbeat mood this morning is (mostly) to do with US Fed Chair Jerome Powell, who used his annual appearance at Jackson Hole to foreshadow imminent rate cuts in the US, and predict another six weeks of winter, after he was spooked by his own shadow.

A US rate cut is grand news, but Powell’s comments – however positive – were a tad nebulous.“The time has come,” Powell intoned, without saying when things would change… only that it’s time they did, and the rest of the hype is now divided into two camps… those who reckon the Fed’s got a […]

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Source: iStock Key Points

Kazatomprom, the world’s largest uranium producer, has downgraded its 2025 production outlook by 17%, causing a surge in uranium stocks

Local uranium names like Paladin Energy, Deep Yellow and Boss Energy are up more than 10% on Monday

Short sellers have been targeting the uranium sector over the past couple of months due to factors including weak prices and high capex costs Investors are piling into uranium miners on Monday after the world’s largest producer, Kazatomprom, downgraded its full-year production outlook.Kazakhstan’s state-owned uranium miner said last Friday that it expects to produce 25,000 to 26,500 tonnes of uranium in 2025, down from its previous guidance of 30,500 to 31,500 tonnes. The new guidance reflects a 17% downgrade at the midpoint but still 12% higher than 2024."The uncertainty around the sulphuric acid supplies for 2025 needs and delays in the construction works at the newly developed […]

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You should seriously consider investing in only one of these four uranium stocks.

Uranium stocks are ending the week on a strong note, with shares of Cameco ( CCJ 5.58%) stock up 5.8% through 10 a.m. ET and smaller rivals Ur-Energy ( URG 11.54%), Uranium Royalty ( UROY 14.85%), and Uranium Energy ( UEC 13.05%) doing even better — up 8.2%, 9.9%, and 12.7%, respectively.

And all four of these nuclear stocks have just one company to thank for their rallies: Kazakhstan’s Kazatomprom. NYSE: CCJ

CamecoToday’s Change(5.58%) $2.25Current Price$42.61CCJ Key Data Points Market Cap$19BDay’s Range$41.85 – $43.4952wk Range$35.18 – $56.24Volume7,567,907Avg Vol3,611,767Gross Margin23.54%Dividend Yield0.21% What Kazatomprom said today As The Financial Times pointed out this morning, Kazatomprom (literally an abbreviation of "Kazakhstan atomic industry") is the world’s largest producer of uranium for nuclear power . Problem is, it’s planning to become a smaller producer of uranium as early as next year.Citing […]

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Kazatomprom, the world’s largest uranium producer, has significantly lowered its production target for 2025 due to project delays and shortages of sulphuric acid, raising concerns about a potential supply crunch for the crucial fuel used in nuclear power.

The Kazakh company, responsible for about 20% of the global uranium supply, has cut its production forecast for next year by 17%, setting a new range of 25,000 to 26,500 tonnes of yellowcake.

This reduction is expected to drive up uranium prices, which, while having eased from a 16-year high of over $100 per pound earlier this year, still remain elevated at over $80 per pound, according to pricing data provider UxC.

Meirzhan Yussupov, CEO of Kazatomprom, explained that “the uncertainty around sulphuric acid supplies for 2025 and delays in construction at newly developed deposits have necessitated a reassessment of our 2025 plans.”Nuclear power has experienced a resurgence following the global energy crisis triggered […]

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Kazatomprom, Kazakhstan’s national atomic company and the world’s largest producer of uranium, is facing significant challenges as it revises down its production targets. Amid these shortfalls, there is growing speculation that a substantial portion of Kazakhstan’s uranium output is being funneled directly to Russia, further intensifying the geopolitical implications of the company’s struggles.

The most glaring example of Kazatomprom’s difficulties lies within the Budenovskoye joint venture, a partnership between Kazatomprom and the Stepnogorsk Mining and Chemical Combine (SGCC), with Russia’s Rosatom holding a substantial stake through SGCC. Budenovskoye is a critical component of Kazakhstan’s uranium production strategy, particularly sections 6 and 7, which were expected to drive significant increases in output over the coming years.

However, recent reports reveal that production forecasts for these sections have been drastically revised.

Initially, Kazatomprom had planned to produce 2,500 tons of uranium from Budenovskoye’s sections 6 and 7 in 2024, with a sharp increase to […]

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Kazatomprom, the world’s largest uranium producer, has cut its 2025 production guidance by 17%, signaling significant operational challenges ahead, despite posting strong financial results for the first half of 2024. The Kazakhstan-based company reduced its production forecast for 2025 to 25,000–26,500 metric tons, down from an initial estimate of 30,500–31,500 metric tons.

This reduction underscores the ongoing difficulties Kazatomprom faces, particularly with delays in construction and shortages of sulfuric acid, which are critical to uranium extraction processes.

In the first half of 2024, Kazatomprom reported robust financial figures, highlighting a 13% increase in revenue to 701.1 billion Kazakhstani tenge (approximately $1.46 billion). This growth was largely driven by rising uranium prices, reflecting the metal’s growing importance in global energy strategies.

The company’s net profit soared by 27% year-over-year, reaching 283.2 billion tenge ($590.1 million), compared to 222.3 billion tenge during the same period in 2023. This increase in profitability was attributed to […]

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In the last nine months, Neo Energy Metals (LON:NEO) has undergone quite a transformation.

If a certain London broker’s analyst is proved right, its main-market listed shares could have a massive upside.

Having risen 23% yesterday, they are now priced at just 1.01p each, while the Price Objective is a massive 20p!

The Business The company is a Uranium developer and mining company.It holds up to a 70% stake in the Henkries Uranium Project, an advanced, low-cost mine in South Africa’s Northern Cape Province.- Advertisement -The Henkries deposit is located across the border from Namibia, which is host to many operating uranium mines including Rossing and Langer Heinrich.It has been estimated that the historical investment in the project was over $30m in exploration and feasibility studies, NEO aims to increase the project’s mineral resources and complete an updated feasibility study, ahead of a determination of the development schedule at the end […]

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In this tranche, Myriad has raised gross proceeds of $1,170,000 and welcomes a Swiss uranium fund to the cap table.

Myriad Uranium holds a 75% earnable interest in the Copper Mountain Uranium Project which saw C$117m (2024$) in exploration and development expenditures by Union Pacific during the 1970s.

Union Pacific drilled approximately 2,000 boreholes, discovered 7 uranium deposits, and developed a 6-pit mine plan for Copper Mountain, estimating resources of between 15.7 and 30.1 Mlbs eU 3 O 8 . Union Pacific further estimated the potential of known and speculated targets at the project to be over 65 Mlbs. These estimates are historical and not yet current under NI 43-101. See the statement regarding historical estimates below.

Myriad is raising capital to fund drilling at Copper Mountain in order to bring these historical estimates current under NI 43-101 and, if possible, go beyond them. Vancouver, […]

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The global uranium market is experiencing a wave of activity, marked by a significant uptick in production and the greenlighting of new projects. In the United States, uranium production made a stunning comeback in early 2024, outpacing the entire output of the previous year. Across the border, Saskatchewan is on the cusp of launching what could become Canada’s largest uranium mining project.

According to the US Energy Information Administration (EIA), domestic uranium production in the first quarter of 2024 exceeded the total for all of 2023, with over 82,000 pounds of uranium concentrate (U3O8) mined—a 64% jump from the 50,000 pounds produced last year. The 2023 slump was largely attributed to the shutdown of Utah’s only uranium mill, but a surge in exploration and drilling activities throughout 2023 has fueled the current rebound. Despite this production surge, the spot price for U3O8 in Canada has dipped to $81.75 per pound, […]

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In this tranche, Myriad has raised gross proceeds of $1,170,000 and welcomes a Swiss uranium fund to the cap table.

Myriad Uranium holds a 75% earnable interest in the Copper Mountain Uranium Project which saw C$117m (2024$) in exploration and development expenditures by Union Pacific during the 1970s.

Union Pacific drilled approximately 2,000 boreholes, discovered 7 uranium deposits, and developed a 6-pit mine plan for Copper Mountain, estimating resources of between 15.7 and 30.1 Mlbs eU 3 O 8 . Union Pacific further estimated the potential of known and speculated targets at the project to be over 65 Mlbs. These estimates are historical and not yet current under NI 43-101. See the statement regarding historical estimates below.

Myriad is raising capital to fund drilling at Copper Mountain in order to bring these historical estimates current under NI 43-101 and, if possible, go beyond them. Vancouver, […]

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ORLANDO, Fla., Aug. 22, 2024 (GLOBE NEWSWIRE) — Today’s featured company is a simple story. It’s a uranium play.

For those of you who have dabbled in the markets for any length of time you may recall that when uranium gets hot interest in companies pegged to yellow cake soars. This is hardly breaking news, just a simple and reflexive approach to market activity and the spot price.

For many, uranium companies like Generation Uranium Inc. (TSXV: GEN) (OTCQB: GENRF) (FRA: W85) present an opportunity to play uranium. Unlike gold or other metals, you can’t stick Krugerrands or shiny bars of uranium in that secret spot behind the family portrait.

Uranium affords no such proximity.So, when headlines like those below adorn the newsfeeds of 2024, publicly traded companies present some exposure to the phenomenon at hand. But first a few headlines and links: Bloomberg: Deadly and Wildly Profitable, Uranium Fever Breaks Out […]

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Vancouver – August 22nd, 2024, Generation Uranium Inc. (the "Company" or "Generation") (TSXV: GEN) (OTCQB: GENRF) (FSE: W85) is pleased to announce that it has engaged the services of Expert Geophysics Ltd., based out of Aurora, Ontario, to conduct an airborne electromagnetic on its flagship Yath Uranium Project ("Yath") located in Nunavut, Canada. The survey will use advanced Mobile MagnetoTellurics ("MMT") geoelectrical mapping technology to collect electromagnetic (EM) survey data with the most advanced generation of airborne AFMAG (Audio-frequency Magnetic) technology, based on exploiting natural EM fields.

A total of 890 line-km will be surveyed at 150-meter line spacing, collecting high-resolution magnetic and VLF data. The survey will cover the entire 123.45 km² Yath Uranium Project surface area and is part of a larger survey being conducted by Atha Energy Corp ("Atha"). The collaboration is a mutually beneficial agreement between both companies to reduce exploration costs by way of proximity, […]

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Bloomberg reported on Tuesday that China has approved 11 nuclear reactors across five sites valued at US$31 billion.

The country’s State Council approved the new reactors across regions such as Jiangsu, Shandong, Guangdong, Zhejiang and Guangxi. It is estimated that construction will take roughly five years.

China has approved over 10 new reactors in each of the past two years and currently has more nuclear reactors under construction than any other country.

Canadian professional services and project management company AtkinsRéalis (TSX: ATRL) recently signed a deal with Third Qinshan Nuclear Power Company Ltd. to support the ongoing 30-year life extension of the two CANDU reactors at the Qinshan Nuclear Generating Station in China. Invest in uranium stocks Uranium spot price update As of the time of this writing on Wednesday, the uranium spot price sits at US$80,30, according to Business Insider , which is down from $81.50 from last week. Uranium companies […]

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GoviEx Uranium Inc.

Equities

GXU

CA3837981057 Uranium Market Closed – Toronto S.E. 04:00:00 2024-08-21 pm EDT 5-day change 1st Jan Change 0.0500 CAD 0.00% +11.11% -66.67% Aug. 21 GoviEx Uranium Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024 CI Jul. 22 GoviEx Uranium Inc.(TSXV:GXU) dropped from S&P/TSX Venture Composite Index CI Summary Quotes Charts News Company Financials Valuation Consensus Calendar Sector All News Analyst Reco. Highlights Insiders Transcripts Press Releases Official Publications Other languages Trading Ideas MarketScreener Strategies ShareGoviEx Uranium Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported net loss was USD 59.19 million compared to USD 2.56 million a year ago. Basic loss per share from continuing operations was USD 0.08. Diluted […]

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Sienna Resources has expanded its Dragon Uranium Project in the Athabasca Basin to 23,134 acres. This area directly borders Cameco , a leading player in uranium production. The Athabasca Basin is known for high-grade uranium deposits. Sienna also increased its acreage in the Stonesthrow Gold Project to approximately 18,350 acres, which borders Ramp Metals Inc. Sienna is optimistic about the prospects, especially with renewed interest in uranium and gold at all-time highs.

Additionally, Sienna recently acquired the Case Lake West Cesium and Spodumene Pegmatite Project in Ontario, covering 2,200 acres. This project is adjacent to Power Metals Corp’s cesium discovery. Sienna is also a significant landholder in the Clayton Valley, Nevada, a key lithium production area.

Sienna’s management cautions that past results from neighboring properties may not indicate similar findings on their own projects. However, they are optimistic about growth opportunities for both short and long terms.

Positive Sienna Resources more than […]

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TD Securities has recently initiated Uranium Energy Corp. (UEC) stock to Speculative Buy, as announced on September 13, 2023 according to Finviz .

Earlier, on June 13, 2022, Canaccord Genuity had raised the stock from a Hold to Speculative Buy. Canaccord Genuity also downgraded from Speculative Buy to Hold rating. Additionally, Canaccord Genuity downgraded Speculative Buy rating on October 14, 2020 with a target price of $1.50. ROTH Capital analysts, in their report published on October 25, 2017, also initiated a Buy rating and set a price target of $3 for Uranium Energy Corp.’s stock. Uranium Energy Corp. (UEC) Stock Trading Recap

On Tuesday, Uranium Energy Corp. (UEC) stock saw a modest uptick, ending the day at $5.02 which represents a slight increase of $0.14 or 2.87% from the prior close of $4.88. The stock opened at $4.9 and touched a low of $4.87 during the day, […]

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VANCOUVER, British Columbia, Aug. 20, 2024 (GLOBE NEWSWIRE) — ATHA Energy Corp. ( TSXV: SASK ) ( FRA: X5U ) ( OTCQB: SASKF ) (“ ATHA ”) is pleased to announce that it has entered into a non-binding letter of intent (the “ LOI ”) with Terra Uranium Ltd. ( ASX: T92 ) (“ T92 ”), whereby the parties will work to negotiate a definitive option and joint venture agreement for T92 to earn an option to acquire a 70% interest in ATHA’s Spire and Horizon properties (together, the “ Spire Horizon Projects ”) and a definitive option and joint venture agreement for ATHA to earn an option to acquire up to a 60% interest in T92’s Pasfield Lake property (the “ Pasfield Project ”).

SPIRE HORIZON PROJECTS

The Spire Horizon Projects are comprised of 12 mineral claims totalling 60,965 hectares, located on the eastern rim of the Athabasca […]

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Toronto, Ontario–(Newsfile Corp. – August 20, 2024) – Highrock Resources Ltd. (CSE: HRK) ("Highrock" or "the Company") is pleased to announce that it has entered into a share purchase agreement (the " Agreement ") dated August 16, 2024 with Atikokan Resources Ltd. (the " Vendor ") pursuant to which the Company will acquire all of the issued and outstanding shares in the capital of Liberty Uranium Corporation (" Liberty Uranium ") from the Vendor (the " Acquisition "). Liberty Uranium is a private company incorporated pursuant to the laws of the State of Nevada and owns 100% undivided interest in the Dry Creek uranium project (the " Property "), located in the Uravan mineral belt, one of the most prolific uranium producing districts in the U.S.A, accounting for about 77% of all uranium production in Colorado, according to the Colorado Geological Survey.

Commenting on the Acquisition, Derrick Dao, CEO of […]

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Investing News Network

August 20, 2024

Forum Energy Metals Corp. ( TSXV: FMC ) (OTCQB: FDCFF) ("Forum" or the "Company") is pleased to announce that drilling at Forum’s 100% owned Aberdeen Uranium Project has continued to intersect uranium mineralization, prolific structural and lithological controls and intense alteration at the Main and West deposits along the Tatiggaq Fault (Figure 1). A recent tour of Directors to the Aberdeen project and the Kiggavik Core Storage Facility with Forum’s Geological Advisor, Dr. Peter Wollenberg, who discovered two of the largest deposits at Kiggavik, verified that the uranium mineralization processes on Forum’s property are identical to the Kiggavik uranium deposits (Figure 2). Seventeen holes have been completed, totalling 4,307 metres along the Tatiggaq Fault within the 1.5km by 0.7km Tatiggaq anomaly (Figure 3). A total of 685 samples have been shipped to SRC Laboratories in Saskatoon, Saskatchewan for analysis. Results are expected by […]

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ATHA Energy Corp. (TSXV: SASK, OTCQB: SASKF) has entered a non-binding LOI with Terra Uranium (ASX: T92) for two potential option agreements. T92 may earn a 70% interest in ATHA’s Spire and Horizon properties by incurring $4.75 million in exploration expenditures over four years. Conversely, ATHA may acquire up to 60% interest in T92’s Pasfield Lake property through exploration funding or drilling milestones. The Spire Horizon Projects, totaling 60,965 hectares, are located in the uranium-rich Athabasca Basin. The Pasfield Project, spanning 68,768 hectares, is adjacent to ATHA’s Ridge Project. Both areas show promising uranium exploration potential based on recent surveys and geological features.

Positive Potential to acquire 60% interest in Pasfield Lake property, expanding ATHA’s exploration portfolio

Access to T92’s existing infrastructure at Pasfield Project, reducing future exploration costs

Spire Horizon Projects show high uranium exploration potential with 144 km of cumulative conductors identified Pasfield Project drilling has intersected anomalous […]

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Skyharbour Resources Ltd logo Vancouver, BC, Aug. 20, 2024 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd.’s (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (the “Company”) partner company Azincourt Energy (“Azincourt”), is pleased to announce that the sample analysis have been received from the 2024 exploration program at the East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada. The 2024 drill program consisted of 1,086 metres of drilling in four diamond drill holes completed earlier this year. Drilling was focused on the K and H Zones with initial results reported in a news release dated May 28 th , 2024.

Project Location – Western Athabasca Basin, Saskatchewan, Canada:
‎ https://skyharbourltd.com/_resources/maps/Sky_EastPreston_20231219.jpg

Winter 2024 Drill Program:
A total of 53 samples, including four blanks and four external standards, were collected throughout the program and sent to the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan for […]

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Uranium Energy Corp (NYSE American: UEC) reports significant drill results from its Roughrider Project in Northern Saskatchewan, Canada. The company intersected 6.96% eU3O8 over 13.5 m with a higher-grade sub-interval of 12.7% eU3O8 over 7.2 metres in drill hole RR-940, located 850 m northeast of the Roughrider Deposit. This represents the best hole to date outside the resource area.

UEC is advancing Roughrider through a three-pronged approach: expanding resources with additional drilling, completing an Initial Assessment Technical Report , and conducting Environmental Assessment baseline studies . The company is utilizing new Ambient Noise Tomography (ANT) survey technology to identify new targets along existing exploration corridors.

Positive Intersected high-grade uranium mineralization: 6.96% eU3O8 over 13.5 m with 12.7% eU3O8 over 7.2 metres

Best drill hole to date outside the resource area, potentially expanding the project’s resources Utilization of new ANT survey technology to identify new exploration targets Accelerated project work with three […]

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Uranium Energy (UEC) closed at $4.88 in the latest trading session, marking a +0.62% move from the prior day. This move lagged the S&P 500’s daily gain of 0.97%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 1.39%.

Shares of the uranium mining and exploration company witnessed a loss of 17.24% over the previous month, trailing the performance of the Basic Materials sector with its loss of 4.6% and the S&P 500’s loss of 1.85%.

Investors will be eagerly watching for the performance of Uranium Energy in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $27 million, indicating a 30.68% downward movement from the same quarter last year.

Investors should also take note of any recent adjustments to analyst estimates for Uranium Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about […]

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