Category: Uranium

Uranium trading prices have surged above $100 per pound, reaching their highest levels since late 2007, as demand for nuclear energy continues to rise globally. This remarkable uptrend is fueled by ambitious decarbonization goals and the commitment of the United States and 20 other nations to triple their nuclear power capacity by 2050. China leads the charge in the nuclear energy push, with plans to construct 22 out of the 58 global reactors in development. Japan is also rekindling its nuclear ambitions, restarting projects to increase power output, and Finland recently marked the opening of Europe’s first new nuclear facility in 16 years.

In response to these developments, utilities have signed contracts for 160 million pounds of U3O8 in 2023, the highest volume since 2012. However, this surge in demand is met with increasing threats to the supply chain. Western utilities are voluntarily avoiding Russian uranium imports due to geopolitical […]

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Vancouver, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) — First American Uranium Inc. (CSE:
URM) (FSE: IOR) (OTCPK: FAUMF) (the “Company”) announces that Michael England has resigned as a director of the Company to pursue other opportunities. The Company would like to thank Mr. England for his contributions to the Company.

The Company is pleased to also announce that Eugene D. Spiering has been appointed a director of the Company to fill the vacancy. Mr. Spiering is an exploration geologist with over 35 years of international experience in mineral exploration and senior level project management in the Western United States, South America, and Europe. He served 14 years as VP Exploration for Rio Narcea Gold Mines in Spain where he participated in the discovery of the El Valle gold deposit and managed the definition and development of the Aguablanca nickel sulfide deposit. Rio Narcea Gold Mines was subsequently acquired […]

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TORONTO, Jan. 10, 2024 /CNW/ – Global Atomic Corporation ("Global Atomic" or the "Company") (TSX: GLO ) (OTCQX: GLATF) (FRANKFURT: G12) corrected the U 3 O 8 off-take sales quantity in today’s earlier news release.

Global Atomic has formalized the Letter of Intent announced in October 2023 by signing a Definitive Agreement for the sale of up to 700,000 lbs uranium per annum from the Company’s Dasa Project in the Republic of Niger. This would represent up to 3.5 million lbs over the five-year agreement. Today’s earlier news release stated that the contract was for 350,000 lbs uranium per annum, totaling 1.75 million lbs over the five-year agreement.

About Global Atomic

Global Atomic Corporation ( https://www.globalatomiccorp.com ) is a publicly listed company that provides a unique combination of high-grade uranium mine development and cash-flowing zinc concentrate production.The Company’s Uranium Division includes four deposits with the flagship project being the large, […]

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The price of uranium hit $92.50 per pound, its highest level since 2007 as supply chain issues, nuclear expansion plans, and geopolitical tensions, have all combined to create a dramatic surge in uranium prices. The price per pound has more than doubled since Russia’s invasion of Ukraine in Feb. 2022.

The uranium market is expected to continue heating up, and prices could hit over $100 , analysts from Bank of America and Berenberg Bank have projected. SIGNALS

Semafor Signals: Global insights on today’s biggest stories. Problems in Niger and Kazakhstan have kept production levels down

The Wall Street Journal, Barron’s, SprottThe global demand for uranium has outstripped supply as key producers have faced problems. Niger’s uranium exports plummeted after a coup last year, and it is unclear when or even if the country will be able to resume exports at the same level. The country was the EU’s second largest […]

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PALM BEACH, Fla., Jan. 10, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Nuclear power is becoming a more dependable and scalable energy source due to the world’s growing demand for electricity, particularly in emerging economies. Thus, the market for uranium mining is supported. Nuclear power becomes a more appealing alternative as countries work to fulfill these targets and switch to low-carbon energy sources. In order to meet these environmental goals, increasing nuclear power depends heavily on uranium mining. There is a strong correlation between the demand for nuclear power worldwide and the uranium market. Uranium is needed as a fuel for nuclear reactors because nuclear power is becoming more and more popular as nations look for greener, more sustainable energy sources. A report from Market Reports World said that the Global Uranium Market is anticipated to rise at a considerable rate during the forecast period, between […]

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The ASX 200 gave back most of yesterday’s gains as sharp falls in key base metals like iron ore and copper undermined the Materials sector.

Elsewhere, lithium stocks were almost unanimously dumped following a report AI is potentially about to solve the battery efficiency case. It seems a souped-up Commodore 64 thinks it can reduce lithium usage by up to 70%.

It wasn’t all doom and gloom, though. Uranium stocks went into melt-up on news the US Department of Energy (DOE) intends to bolster its supply chain for enriched uranium. A busy day indeed!

Let’s dive in. Markets ASX 200 Session Chart S&P ASX 200 (XJO) Intraday Chart 10 Jan 2024 Down, down. Prices are down �The S&P/ASX200 ( XJO ) finished 52.0 points lower at 7,468.5 , 0.7% from its session high and smack-bang on its session low. In the broader-based S&P/ASX 300 ( XKO ), advancers lagged decliners […]

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Investing News Network

January 10, 2024

Fortune Bay Corp. ( TSXV: FOR ) (FWB: 5QN) (OTCQX: FTBYF) (" Fortune Bay " or the "Company") is pleased to announce the acquisition of the Spruce Uranium Project ("Spruce" or the "Project") through staking over the past several months. The Project is located within the north-central margin of the Athabasca Basin, near the community of Fond du Lac and comprises four mineral claims covering 6,855 hectares (Figure 1).

Highlights: Located in proximity to the northern rim of the Athabasca Basin ("Basin") with potential for high-grade, basement-hosted uranium deposits. Covers over six (6) kilometres of prospective strike length along the Grease River Shear Zone ("GRSZ"), a major structural corridor that hosts the historical Fond du Lac uranium deposit. The GRSZ is significantly underexplored relative to other major, Basin-margin structural corridors that have yielded significant basement-hosted uranium discoveries (e.g. Arrow, Triple R […]

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Vancouver, BC, Jan. 10, 2024 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH )
(OTCQX: SYHBF ) (Frankfurt: SC1P ) (the “Company”) is pleased to announce plans for an upcoming drill program at its recently optioned 73,294 hectare Russell Lake Uranium Project strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour is planning 5,000 metres of diamond drilling in ten to twelve holes over the next several months at Russell with mobilization and commencement within the next few weeks. Following the initial phase of drilling at Russell Lake, the Company will move the drill rig over to its adjacent 100% owned, 35,705 hectare high-grade Moore Uranium Project to complete a planned 3,000 metres of drilling in eight to ten holes. The combined 8,000 metre winter drill campaign across the company’s core projects is fully funded and permitted with the geologists and drilling […]

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ASX resumes slide as iron ore giants fall; Alumina up 17pc

Joshua Peach

A sell-off in mining companies offset cooler-than-expected inflation data, driving the sharemarket lower on Wednesday.

The S&P/ASX 200 dropped 52 points, or 0.7 per cent, to 7468 and the All Ordinaries fell by a similar margin. The benchmark has fallen in five of the last six sessions to be down 1.6 per cent since the start of the year.A weak lead from Wall Street sent shares lower at the open, before they briefly pared back losses after Australia’s latest consumer price indicator eased at a faster-than-predicted clip.November CPI dropped to 4.3 per cent in annual terms from 4.9 per cent in October, below the market’s 4.4 per cent consensus.Catherine Birch, senior economist at ANZ, said the CPI print pointed to the Reserve Bank keeping the cash rate on hold at its next meeting in February.“We expect quarterly CPI […]

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Gladiator Resources ASX GLA uranium Tanzania South West Corner mining Gladiator Resources (ASX: GLA) has confirmed the high-grade uranium potential of the Southwest Corner (SWC) target within its 724 sq km Mkuju uranium project in Tanzania with the receipt of new assay results.

In strong early trade for uranium stocks, the company’s share price was up markedly on news of the positive re-analysis of samples acquired in trenching at SWC in 2023.

Gladiator revealed in late December that trenching at SWC had revealed high-grade uranium mineralisation supporting its model of gently dipping uraniferous sandstone layers with considerable strike extent.

Invest in the latest ASX IPOs and placements An original analysis was undertaken using X-ray fluorescence technology, which has an upper detection limit of 4,245 parts per million for uranium.The re-assayed uranium samples were initially considered to be above that detection limit and so were re-analysed using sodium peroxide fusion and inductively […]

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HALIFAX, NS, Jan. 10, 2024 /CNW/ – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce the acquisition of the Spruce Uranium Project ("Spruce" or the "Project") through staking over the past several months. The Project is located within the north-central margin of the Athabasca Basin, near the community of Fond du Lac, and comprises four mineral claims covering 6,855 hectares (Figure 1).

Highlights: Located in proximity to the northern rim of the Athabasca Basin ("Basin") with potential for high-grade, basement-hosted uranium deposits.

Covers over six (6) kilometres of prospective strike length along the Grease River Shear Zone ("GRSZ"), a major structural corridor that hosts the historical Fond du Lac uranium deposit.

The GRSZ is significantly underexplored relative to other major, Basin-margin structural corridors that have yielded significant basement-hosted uranium discoveries (e.g. Arrow, Triple R and Eagle Point). Historical surface […]

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

ASX 200 futures are trading 12 points lower, down 0.16% as of 8:30 am AEDT.
Source: Market Index S&P 500 SESSION CHART

S&P 500 lower but finished well above worst levels (Source: TradingView) MARKETS

S&P 500 lower but finished off worst levels of -0.70%
Small caps have come under renewed pressure , with the Russell 2000 underperforming major benchmarks WTI crude settled ~2% higher after the 4% selloff on Tuesday Economic worries and new supplies temper outlook for crude oil price ( FT ) STOCKS United Airlines shares rally after a double upgrade to Buy from Underperform from Bank of America, citing a “valuation disconnect” ( CNBC ) Samsung expects profit to fall 35% on weak chip demand ( Reuters ) Hewlett Packard Enterprise in talks to acquire Juniper Networks for $13bn ( Reuters ) X to launch peer-to-peer payment platform this year ( CNBC ) […]

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ASX 200 futures are trading 12 points lower, down 0.16% as of 8:30 am AEDT.

The S&P 500 lost ground and finished lower overnight, Fed policymakers continue to push back on rate cut expectations, uranium stocks rallied after the US announced plans to jump-start production of higher-energy uranium, the mines most at risk of closure amid a slump in battery metal prices and why earnings need to walk to walk.

Let’s dive in. Overnight Summary

Wed 10 Jan 24, 8:28am (AEDT) Name Value % Chg Major Indices S&P 500 4,757 -0.15% Dow Jones 37,525 -0.42% NASDAQ Comp 14,858 +0.09% Russell 2000 1,967 -1.10% Country Indices Canada 20,971 -0.49% China 2,893 +0.20% Germany 16,688 -0.17% Hong Kong 16,190 -0.21% India 71,386 +0.04% Japan 33,763 +1.16% United Kingdom 7,684 -0.13% Name Value % Chg Commodities (USD) Gold 2,035.3 +0.13% Iron Ore 140.87 -0.41% Copper 3.7615 -1.63% WTI Oil 72.13 +1.51% Currency […]

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Mr. Cory Belyk reports: $7.5 Million Drilling Program at West McArthur JV High-Grade Pike Zone

$2.7 Million Geophysics and Drilling Program at Moon Lake South JV

Multiple Drilling Programs Planned on Partner Sole-Funded Projects

Vancouver, British Columbia–(Newsfile Corp. – January 9, 2024) – CanAlaska Uranium Ltd. (TSXV: CVV) ( OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is preparing for winter drill programs at three of its projects in the southeastern Athabasca Basin (Figure 1). Junior Mining Network Figure 1 – Project Locations MapAn approved $7.5 million exploration program on the West McArthur Joint Venture project is scheduled to start in early January. The 2024 West McArthur drill program will focus on continued expansion of the Pike Zone discovery and along strike unconformity testing to the northeast and southwest of the Pike Zone. In addition, the Moon Lake South Joint Venture ("MLSJV") approved a $2.7 million […]

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Invalidation of the breakout, daily closure under the trend channel, and 2 gaps.

Can bulls survive in these conditions?

Let’s start today’s analysis with the long-term chart. What happened? More importantly, what didn’t happen and what are the consequences? Looking at the monthly chart, we see that although the bulls managed to push uranium above the two previous peaks (hit in July 2013 and March 2014), which together form the red resistance zone, this victory was only temporary.

They didn’t hold gained levels, which triggered a pullback and an invalidation of the earlier tiny breakout (monthly closure below both mentioned peaks), which doesn’t bode well for higher prices – especially when we factor in visibly lower volume during last month’s upswing (it simply reduces the credibility of the bulls’ strength) and the current position of the monthly indicators .What impact did this price action have on the medium-term picture? Let’s check the […]

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Let’s start with nuclear energy. It’s back! After being unloved, forgotten and punished for a decade, it’s rising again. Some call it a nuclear renaissance but I like to think of it as a resurgence given the growing momentum.

Who would have thought that in just two years, public sentiment and government support would have shifted this strongly? Nuclear energy peeked out of the backstage shadows at COP26 in 2021. While the nuclear energy sector’s attendance that year was full of controversy, it marked the first public admission by governments that they had no chance of reaching net-zero targets without it. While there were outlier countries chasing energy unicorns, it was a watershed moment for nuclear.

By COP28, which recently concluded, nuclear energy took center stage with 22 countries pledging to triple their nuclear energy capacity by 2050. Wow!

Figure 1. Source: Dean Calma/International Atomic Energy Agency. From misplaced protests, misconceptions and […]

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The squeeze is on – and the result is anything but sour for ASX uranium stocks. Picture: iStock Uranium has started 2024 the same way it ended 2023 – like a bull in a china shop.

Spot prices are now agonisingly close to $US100/lb for the first time since 2008, with term pricing not far behind.

“This year alone, demand is around 200 million pounds and supply is about 160 million pounds,” says Justin Huhn, founder of Uranium Insider .

For the latest mining news, sign up here for free Stockhead daily newsletters “That means we’re about 40 million pounds short.”The years of deficits which helped push prices up 90 per cent last year are not going away, even as mothballed mines enter restart mode and advanced projects hit the button on development.This speccy graph explains why global resources stocks, pundits and punters are boarding the yellowcake train. The world faces […]

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Uranium has started 2024 the same way it ended 2023 – like a bull in a china shop. Spot prices are now agonisingly close to US$100/lb for the first time since 2008, with term pricing not far behind.

“This year alone, demand is around 200 million pounds and supply is about 160 million pounds,” s ays Justin Huhn, founder of Uranium Insider.

“That means we’re about 40 million pounds short.”The years of deficits which helped push prices up 90% last year are not going away, even as mothballed mines enter restart mode and advanced projects hit the button on development.This speccy graph explains why global resources stocks, pundits and punters are boarding the yellowcake train. Source: Paladin. A 35Mlb a year deficit is huge. Boss Energy’s (ASX:BOE) Honeymoon and Paladin’s (ASX:PDN) Langer Heinrich will produce a collective ~9Mlb per annum once fully ramped up. In 2023, production from global […]

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TORONTO, Jan. 03, 2024 (GLOBE NEWSWIRE) — Sprott Asset Management LP (“Sprott Asset Management”), on behalf of the Sprott Physical Uranium Trust (TSX: U.UN) (TSX: U.U) (the “Trust” or “SPUT”), a closed-ended trust created to invest and hold substantially all of its assets in physical uranium, today announced that the Trust has updated its at-the-market equity program (the “ATM Program”) to issue up to an additional US$1.0 billion of trust units (the “Units”) pursuant to a prospectus supplement dated January 3, 2024 (the “Prospectus Supplement”) to the short form base shelf prospectus dated January 3, 2024 (the “Shelf Prospectus” and, together with the Prospectus Supplement, the “Offering Documents”). Copies of the Offering Documents are available at www.sedarplus.ca.

Distributions under the ATM Program, if any, will be completed in accordance with the terms of an amended and restated sales agreement dated September 13, 2021, as amended on November 22, 2021 and […]

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January 3, 2024 (Investorideas.com Newswire) Invalidation of the breakout, daily closure under the trend channel, and 2 gaps.

Can bulls survive in these conditions?

Let’s start today’s analysis with the long-term chart. What happened? More importantly, what didn’t happen and what are the consequences? Looking at the monthly chart, we see that although the bulls managed to push uranium above the two previous peaks (hit in July 2013 and March 2014), which together form the red resistance zone, this victory was only temporary.

They didn’t hold gained levels, which triggered a pullback and an invalidation of the earlier tiny breakout (monthly closure below both mentioned peaks), which doesn’t bode well for higher prices – especially when we factor in visibly lower volume during last month’s upswing (it simply reduces the credibility of the bulls’ strength) and the current position of the monthly indicators.What impact did this price action have on the medium-term […]

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

The price-to-earnings ratio for Uranium Energy Corp (AMEX: UEC) is above average at 677.89x. The 36-month beta value for UEC is also noteworthy at 1.84. There are mixed opinions on the stock, with 4 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”

The average price estimated by analysts for UEC is $7.69, which is $1.25 above than the current price. The public float for UEC is 384.01M, and at present, short sellers hold a 8.99% of that float. The average trading volume of UEC on January 03, 2024 was 7.68M shares.

Top 5 Tech Stocks to Buy in 2024

Don’t let the chaos of rising interest rates, potential recession, tighter credit issues, higher oil prices, and incessant geopolitical issues chase you from the markets. Instead, just wait it out. With too much fear in the market, […]

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Infini Resources Ltd – While it is expected to be a slow start to 2024 on the ASX IPO front, new energy metals company Infini Resources Ltd (ASX:I88) is looking to take advantage of the quiet time with a January listing.

Infini is focused on lithium and uranium commodities and has curated a diversified portfolio of eight greenfields and brownfields projects in tier-one mining jurisdictions across Canada and Western Australia.

The company recently closed a $5.3 million raise, with funds to be used across its assets at a time when lithium and uranium headwinds could work in its favour.

“We’ve got some exceptional micro and macroeconomic tailwinds in the lithium and uranium markets, which really drive the exciting nature of our IPO,” Infini Resources CEO Charles Armstrong told Proactive . Diversified asset base It is the diversified nature of the assets that Armstrong believes is Infini’s strength.The exploration projects Infini will hold […]

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Hedge funds are stockpiling barrels of raw uranium as the nuclear fuel’s price surges to 16-year highs.

As many as 50 funds are believed to have bought and stored uranium concentrate, known as “yellowcake”, at a facility run by US processing firm ConverDyn alone, as speculators bet that prices are set to spike.

One prominent fund said to be amassing yellowcake is Anchorage Capital Group, the New York firm that started piling into the metal after selling MGM Studios, which owns the film rights to the James Bond franchise, to Amazon.

Other players amassing even larger stockpiles including uranium investment trusts which have built portfolios worth billions of dollars at today’s prices, such as London-listed Yellow Cake Plc and the Toronto-listed Sprott Physical Uranium Trust.Nikko Collida, vice president for business development at ConverDyn, said: “What you’re seeing with these investor types is that they’re just buying and holding.“We’ve had some accounts that […]

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© Reuters. Hedge funds betting big on uranium as spot price surges to 16-year highs Hedge funds are stockpiling barrels of raw uranium after its price reached a 16-year peak, the Australian Financial Review reported.

As many as 50 funds, including Anchorage Capital Group, are reportedly storing uranium, betting on further price spikes.

The New York-based Anchorage Capital began accumulating the yellowcake after divesting MGM Studios to Amazon (NASDAQ: AMZN ).

Other significant accumulators include Yellow Cake PLC and Sprott Physical Uranium Trust, both managing billion-dollar portfolios.Uranium concentrate, or ‘yellowcake’, is being stockpiled at ConverDyn, a US processing company.Trend aligns with under-supply situation“What you’re seeing with these investor types is that they’re just buying and holding,” ConverDyn vice president for Business Development Nikko Collida said.“We’ve had some accounts that are accumulating more pounds than you would normally have seen in the past.“With nuclear, it’s always in a state where supply is reacting […]

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In this article, we will take a look at the 12 countries that produce the best uranium in the world. If you want to skip our detailed analysis, you can go directly to 5 Countries That Produce The Best Uranium In The World . The Uranium Industry Outlook

According to a report by Sprott, the uranium market is expected to experience strong demand, long-term contracting, and supply chain disruptions ahead of 2024, which may be primary contributors to the rising price of Uranium. In 2023, uranium grew by 50% across the globe. Sprott suggests that the primary reason for the upward trend in 2023 was the boost in producer activity by traditional and ancillary players. 2023 commenced with the price of uranium valued at $50 which then steadily grew to $60 in September. However, a few weeks after September, the price of uranium jumped to the $70s. The report […]

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