GoviEx buoyed by prospects of a uranium uptrend, nuclear energy expansion

TSX-V-listed GoviEx Uranium reports that, with nuclear energy having shown resilience in 2020, the spot uranium price has been in a “gentle uptrend” for the last four years after having reached its cyclical low of $18/lb of U 3 O 8 in December 2016.

The company notes that despite 2020 having been strongly dominated by the Covid-19 pandemic, the company nonetheless adapted to this challenging environment and made progress by improving its financial position, advancing its pipeline of uranium mine development plans, specifically in Niger, and beginning the assessment of “compelling” gold prospects in Mali. In addition, GoviEx says the positive momentum of its activities in 2020 has continued into this year.

During 2020, the spot uranium price rose from $25/lb at the start of the year to $30/lb at the end – a 20% increase. GoviEx states that the increase in prices is being supported by progressively stronger demand for […]

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