Terra Uranium makes a bright start on ASX as rising energy costs force countries to embrace nuclear power

Terra Uranium Ltd (ASX:T92) shares surged as much as 80% higher intra-day on its first day of trading on Thursday, following an oversubscribed initial public offer (IPO) that raised $7.5 million at $0.20 per share.

T92 shares were last trading at $0.32, up 62.5%.

The Athabasca Basin, Canada focused uranium explorer has listed on the ASX at a time when uranium prices have nowhere to go but up as rising energy costs force countries to embrace nuclear power.

T92 has a portfolio of three wholly owned projects in Athabasca Basin, Canada, which contains the world’s largest and highest grade uranium deposits.The company’s three projects cover a total of 775 square kilometres in the eastern Athabasca Basin.Many countries have recently re-evaluated their stance on nuclear energy in the wake of the Russian invasion, with Japan confirming that it would restart seven more nuclear reactors, bringing the total number of plants back into operation […]

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