Category: Uranium

CanAlaska Uranium Ltd. announces that further to its March 12, 2021 and March 15, 2021 news releases, it has now completed the second and final tranche of its non-brokered private placement . Under the Second Tranche, the Company has issued 1,165,000 flow-through units for gross proceeds of $745,600 and 2,488,800 non-flow-through units for gross proceeds of $1,244,400. In connection with the Second Tranche, the …

CanAlaska Uranium Ltd. ( TSXV: CVV ) (FSE: DH7N) (“CanAlaska” or the “Company”) announces that further to its March 12, 2021 and March 15, 2021 news releases, it has now completed the second and final tranche (the “Second Tranche”) of its non-brokered private placement (the “Offering”). Under the Second Tranche, the Company has issued 1,165,000 flow-through units for gross proceeds of $745,600 and 2,488,800 non-flow-through units for gross proceeds of $1,244,400. In connection with the Second Tranche, the Company paid a total of $144,644 […]

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Vancouver, British Columbia–(Newsfile Corp. – March 26, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV ) (FSE: DH7N ) ("CanAlaska" or the "Company") announces that further to its March 12, 2021 and March 15, 2021 news releases, it has now completed the second and final tranche (the " Second Tranche ") of its non-brokered private placement (the " Offering "). Under the Second Tranche, the Company has issued 1,165,000 flow-through units for gross proceeds of $745,600 and 2,488,800 non-flow-through units for gross proceeds of $1,244,400. In connection with the Second Tranche, the Company paid a total of $144,644 and issued a total of 263,192 warrants as finder’s fees. Each finder’s warrant is exercisable for one common share at a price of $0.75 for two years. All securities issued under the Second Tranche are subject to a hold period expiring July 27, 2021 in accordance with applicable securities laws and the […]

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Skyharbour Resources Ltd. announces that Orano Canada Inc. has completed the first earn-in option of a 51% interest in the Preston Uranium Project located in the western Athabasca Basin, Saskatchewan, Canada. Orano previously held an option to acquire the interest through an option agreement entered into with Skyharbour and Dixie Gold Inc. . Project Location – Western Athabasca Basin, Saskatchewan, Canada: Orano …

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the “Company or Skyharbour”) announces that Orano Canada Inc. (“Orano”) has completed the first earn-in option of a 51% (fifty-one percent) interest in the Preston Uranium Project (“Project”), located in the western Athabasca Basin, Saskatchewan, Canada. Orano previously held an option to acquire the interest through an option agreement entered into with Skyharbour and Dixie Gold Inc. (“Dixie Gold”).

Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf
Orano has fulfilled their first earn-in […]

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The earth’s population quadrupled between 1900 and 2000. At the same time, the demand for energy increased about tenfold. The use of fossil fuels also led to a massive increase in greenhouse gases. To ensure that greenhouse gas emissions do not continue to grow, climate-friendly energy generation that is not based on fossil fuels is needed.

This is where wind and hydroelectric power, as well as nuclear power plants, come into play. The world’s first nuclear power plant was commissioned in 1954 in Russia, in Obninsk. A year later, a power plant went into operation in England, which is considered the world’s first commercial nuclear power plant. Submarines and aircraft carriers were then also nuclear powered.

Enriched uranium is used as fuel in the nuclear power plants. The initial investment for a power plant and the dismantling costs are very high, […]

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US$86,273,000, which included 10,230,000 units through the full exercise of the underwriters’ over-allotment option.

Each unit consists of one common share and one-half of one transferable common share purchase warrant of the Company. Each full warrant is exercisable to acquire one Company common share at an exercise price of US$2.25 for 24 months after issuance. The warrants are not listed.

The Offering was completed through a syndicate of underwriters co-led by Cantor Fitzgerald Canada Corporation, as sole-bookrunner, and Haywood Securities Inc., and including Scotia Capital Inc., Canaccord Genuity Corp., TD Securities Inc., BMO Nesbitt Burns Inc., Cormark Securities Inc., Raymond James Ltd. and Paradigm Capital Inc.

Net proceeds of the Offering are anticipated to be used to fund the strategic purchase of uranium concentrates ("U 3 O 8 ") to be held by Denison as a long-term investment, intended to support the potential future financing of the advancement and/or construction of the […]

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In a news release , Uranium Energy Corp. (UEC:NYSE AMERICAN) announced it closed on March 17, 2021, its registered direct offering, generating gross proceeds of $30.5 million.

The company stated that the funds will be used for additional uranium purchases and general corporate and working capital purposes. "Uranium Energy Corp.’s physical uranium initiative is fully funded with cash on hand," the release noted.

Uranium Energy reported that, following the close of financing, it has about $95 million in cash and equity holdings, $61 million of it in cash. It intends to use the monies to continue building its uranium stockpile and as general corporate and working capital.

For the financing, the energy company issued 10 million Uranium Energy common shares at a purchase price of $3.05 apiece.UEC reported that physical uranium initiative "now includes 1.4 million pounds of U.S. warehoused uranium with 1,000,000 pounds delivered by May 2021 and another 400,000 pounds […]

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US uranium miners look set to prosper in 2021 if President Biden can successfully legislate his plan for 100% carbon free electricity by 2035. That is because the US currently gets about 55% of its carbon-free electricity from nuclear power which relies on uranium as its feed source. 100% carbon free US electricity will mean a massive boost towards solar, wind, and nuclear energy. Another boost for US uranium producers will be the US$150M pa proposed for the next 10 years to build a US uranium reserve. Combine all this with a global deficit of uranium (constrained supply and growing demand) and we get the perfect tailwind for US uranium miners in 2021.

Clearly, the market is already seeing this with leading US uranium miners such as Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR) ( +471% ) and Ur‐Energy Inc. (NYSE American: URG | TSX: URE) ( +238% […]

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The entry gate to a uranium prospecting area in the Uravan mineral belt in Utah, in the western USA. Credit: File TNT Mines is preparing to drill test its key, high-grade uranium targets at the East Canyon project in Utah. The company is in the process of paying the requisite bonds to the US government and entering the final phase of the drill permitting process. Exploration is currently being designed to test various targets across the company’s holdings, with initial drilling likely to focus on a nest of historical workings in the north of TNT’s tenure, including the None Such and Bonanza targets.

The company says despite the outstanding results from sampling and the broad zones of uranium mineralisation outlined across its East Canyon holdings, the move to drilling has taken longer than expected due to the approvals process. TNT is now in the final stages of receiving its permits […]

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An employee assesses the control rods unit for fuel elements while the reactor is turned off for a routine inspection at a nuclear power plant in Kruemmel, Germany, on Aug. 15, 2007. Recent plays in the uranium spot market have occurred amid a torrent of change in the nuclear power space.
Source: Krafft Angerer /Getty Images News via Getty Images Uranium juniors faced with the prospects of a nuclear renaissance and prices below the cost of production are trying to capitalize on their dilemma with a simple strategy: buy, buy, buy.

U.K.-based uranium purchaser Yellow Cake PLC elected March 15 to fully exercise its $100 million uranium purchase option for 2021 with JSC National Atomic Co. Kazatomprom and agreed to purchase another 440,000 pounds from the Kazakh uranium major. The move may prompt Kazatomprom, which is the largest uranium producer in the world, to purchase material on the spot […]

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Skyharbour Resources Ltd. partner company Azincourt Energy Corp. is announcing that the 2021 winter exploration program has been shut down at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada. Project Location – Western Athabasca Basin, Saskatchewan, Canada: Unseasonably warm weather during the first two weeks of March and rapid snow melt has forced the termination of …

Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P ) (the “Company”) partner company Azincourt Energy Corp. (“Azincourt”) is announcing that the 2021 winter exploration program has been shut down at the East Preston uranium project, located in the western Athabasca Basin, Saskatchewan, Canada.

Project Location – Western Athabasca Basin, Saskatchewan, Canada:
https://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf
Unseasonably warm weather during the first two weeks of March and rapid snow melt has forced the termination of the diamond drill program approximately two weeks earlier than expected. Daytime temperatures above […]

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Denison Mines (NYSEAMERICAN: DNN ) is a Canadian uranium mining company with an outsized valuation and penny stock status. As such, investors should be careful about investing in DNN stock, as it is likely to be quite volatile. The Toronto-based company has a major prospective uranium mining project in northern Saskatchewan called the Wheeler River project . A Seeking Alpha analyst says that this project has a “ positive net present value at the current spot uranium prices .” However, he believes that DNN stock is still overvalued. Recent Capital Raises

Nevertheless, Denison Mines has astutely raised capital at several price points recently. On Feb. 11, the company raised $25 million before broker greenshoe options, as well as 8 million CAD in “flow-through” shares and warrants with a $2.00 per share exercise price.

This is after DNN stock shot up from 33 cents per share in November 2020, to as […]

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The last time Cameco saw year-over-year net income growth was 2015, when the spot price of uranium oxide hovered above $35 a pound for most of the year. Since then, the commodity’s price has mostly stayed below $30 a pound, though it seems to be recovering quickly. As of Monday, the spot price was $29.60 a pound, up 7.3% in one week, according to data from nuclear fuel market research firm UxC. Uranium is mostly sold on contracts with utilities rather than via the spot market. Jonathan Hinze, president of UxC, notes that among nonsubsidized mines, the all-in cost of production can range anywhere from $10 a pound up to $38 a pound.

The supply-demand picture appears unchanged from last year, but this masks the underlying dynamics of an opaque and long-cycle industry . In 2021 global uranium demand is expected to shrink slightly to 178 million pounds from 2020’s […]

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The Marenica Energy Ltd (ASX: MEY) share price was on the move earlier today. However, after posting gains of 3.3% in afternoon trading, the share price is currently flat. This comes after the ASX uranium explorer reported successful early results at one of its projects in Namibia. In addition, Marenica currently holds the largest area of uranium exploration leases in the African nation. What uranium exploration results did Marenica Energy report?

Marenica’s shares moved higher earlier today after the company reported it had discovered an extensive palaeochannel system during its maiden geophysical exploration program at its Namib IV prospect.

The exploration program is intended to reveal uranium mineralisation zones. Additionally, the company said the system it has discovered extends for more than 19 kilometres. Management commentary

Commenting on the exploration results, Marenica’s managing director, Murray Hill said: The structure of this palaeochannel system at Namib IV is extremely promising […]

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(NYSE: UEC), (the "Company" or "UEC") is pleased to announce the closing of its previously announced offering of an aggregate of 10,000,000 shares of common stock of the Company (each, a "Share") at a purchase price of $3.05 per Share and for gross proceeds of $30,500,000 in a registered direct offering (the "Offering")

The Company offered and sold the Shares pursuant to a Securities Purchase Agreement, dated March 17, 2021, with certain institutional investors.

UEC anticipates that the net proceeds of the Offering will be used for additional uranium purchases and for general corporate and working capital purposes.

Following the closing of this offering the Company has approximately $95 million in cash and equity holdings, which includes $61M in cash.UEC’s physical uranium initiative is fully funded with cash on hand and now includes 1.4 million pounds of U.S. warehoused uranium with 1,000,000 pounds delivered by May 2021 and another 400,000 pounds delivered […]

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A jump in the weekly spot price focuses the minds of uranium participants on both short and medium-term price catalysts.

-Increasing short-term transaction volumes
-Bullish 12 month view
-Spot uranium rises over 8% to $US29.65/lb

The weekly spot uranium price showed renewed volatility this week, spiking 8% to US$29.65/lb.Industry consultant TradeTech cites increased transaction volumes driven primarily by producer and investor activity as one catalyst for the short-term rise. When combined with cuts and reductions to primary production, there is potential for considerable influence on the uranium market.Investor interest from funds has undergone a recent resurgence with Uranium Participation Corp (UEC) and Yellow Cake plc acting as first movers to take physical positions in the uranium market, by sequestering uranium concentrates. This may be termed a “buy and hold” strategy.In addition, select emerging producers have supplemented this strategy with a “buy and deliver” revenue model, notes TradeTech. By way […]

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LAKEWOOD, Colo., March 22, 2021 /PRNewswire/ – Energy Fuels Inc. (NYSE: UUUU ); (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the year ended December 31, 2020. The Company’s annual report on Form 10-K has been filed with the U.S. Securities and Exchange Commission (" SEC ") and may be viewed on the Electronic Document Gathering and Retrieval System (" EDGAR ") at www.sec.gov/edgar.shtml , on the System for Electronic Document Analysis and Retrieval (" SEDAR ") at www.sedar.com , and on the Company’s website at www.energyfuels.com . Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights: Working capital at December 31, 2020 was $40.2 million, a $19.7 million increase over the Company’s $20.5 million working capital balance at December 31, 2019. The Company’s December 31, 2020 working capital balance of $40.2 million included $22.4 million of cash and marketable securities and […]

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CORPUS CHRISTI, TX, March 22, 2021 /PRNewswire/ – Uranium Energy Corp (NYSE: UEC ), (the "Company" or "UEC") is pleased to announce the closing of its previously announced offering of an aggregate of 10,000,000 shares of common stock of the Company (each, a "Share") at a purchase price of $3.05 per Share and for gross proceeds of $30,500,000 in a registered direct offering (the "Offering")

The Company offered and sold the Shares pursuant to a Securities Purchase Agreement, dated March 17, 2021, with certain institutional investors.

UEC anticipates that the net proceeds of the Offering will be used for additional uranium purchases and for general corporate and working capital purposes.

Following the closing of this offering the Company has approximately $95 million in cash and equity holdings, which includes $61M in cash.UEC’s physical uranium initiative is fully funded with cash on hand and now includes 1.4 million pounds of U.S. warehoused uranium […]

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TORONTO, March 22, 2021 /CNW/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML ) (NYSE American: DNN) is pleased to announce that it has closed its previously announced bought deal public offering of units (the "Offering"). The Company issued 78,430,000 units of the Company at US$1.10 per unit for aggregate gross proceeds of US$86,273,000, which included 10,230,000 units through the full exercise of the underwriters’ over-allotment option. View PDF View PDF Denison Announces Closing of US$86.3 Million Financing in Support of Strategic Acquisition of Physical Uranium (CNW Group/Denison Mines Corp.) Each unit consists of one common share and one-half of one transferable common share purchase warrant of the Company. Each full warrant is exercisable to acquire one Company common […]

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