Toronto, Ontario and Nucla, Colorado, Dec. 20, 2021 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“Western” or the ”Company”) is pleased to provide the following updates.
Strategic Acquisition of Physical Uranium
The Company has completed the acquisition of 125,000 pounds of natural uranium concentrate. This was announced in June 2021, and because of uranium prices at the time, Western paid a price of $32 per pound for the U 3 O 8 . Uranium currently has a spot value of ~$43 per pound. Thus a $5.4 million asset has been purchased for $4.0 million. The Company retains the optionality to hold this strategic uranium inventory as a long-term investment or use to fulfill its uranium supply agreement delivery for 2022. During 2021 there have been a multitude of catalysts for uranium miners and the nuclear industry. Over the longer term, the prior decade […]
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