Palm Beach, FL – March 23, 2022 – FinancialNewsMedia.com News Commentary – Uranium is in the spotlight again as the world may be doing an about-face in turning to favor nuclear power plants again. A recent article from a financial media portal, ProactiveInvestors.com focused on policy makers in governments, saying that recent world circumstances may give those parties more ammunition. It said that: “some of the more thoughtful figures on the right wing of North American and European politics have been advocating a major re-focusing of attention on nuclear power for some years now. The pitch has always been simple enough – nuclear is clean, relative to coal, oil and natural gas, and you can produce it at a competitive price. Or to put it another way, if you want to accommodate the climate change lobby without breaking the bank on renewables subsidies, nuclear is the way to go. But there have been two problems with this approach: safety concerns and inertia… Now, though, the inertia has gone.” It continued, saying that: “… (recently) oil prices have skyrocketed, and governments in Europe and North America… are begging to look elsewhere for alternatives. In recent days, the Belgians have put back plans to phase out nuclear power by ten years, the Germans and the Japanese are said to be revisiting old attitudes to nuclear, and in the UK Boris Johnson is holding some kind of a summit with bigwigs in the nuclear power generating industry… (if that happens) then uranium is going to become an even hotter commodity than it already is.” Active companies in the markets today include: BASIN URANIUM CORP. (OTCPK: BURCF) (CSE: NCLR), Fission Uranium Corp. (OTCQX: FCUUF) (TSX: FCU), Uranium Royalty Corp. (NASDAQ: UROY) (TSXV: URC), Ur-Energy Inc. (NYSE: URG) (TSX:URE), Cameco (NYSE: CCJ) (TSX: CCO).
ProactiveInvestors.com continued: “Already the uranium price has gone through the roof, along with most other commodities, in response to the disruptions to supply chains. At the current spot price of US$55 per pound, it’s already trading in a higher range than it has done for more than ten years. … if governments in the Western world start building more nuclear plants they’re going to need to get the uranium from somewhere. But for those (investors) who just want the straight gains that uranium is likely to book, there’s always the swath of new uranium ETFs, which weren’t available last time the price went this high, but sure are doing well this time round.”
BASIN URANIUM CORP. (CSE: NCLR.CN) (OTCPK: BURCF) BREAKING NEWS: BASIN URANIUM COMMENCES CAMP CONSTRUCTION AT MANN LAKE – BASIN URANIUM CORP. (“Basin Uranium” or the “Company”) is pleased to announce it has mobilized to site with initial preparations for camp construction ahead of a comprehensive geophysical and diamond drill program at its Mann Lake uranium project in Saskatchewan’s prolific Athabasca Basin. The Mann Lake project is located 25km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit.
“We have mobilized to site begin construction of the exploration camps and associated infrastructure which will support the upcoming geophysical and diamond drill program, both of which are anticipated to commence next month.” commented Mike Blady, CEO of Basin Uranium. “Updates will be provided on the timing of the commencement of the exploration programs in the coming weeks.” CONTINUED… Read the BASIN URANIUM full press release by going to: https://basinuranium.ca/news/
In other news and developments of note in the markets this week:
Fission Uranium Corp. (OTCQX: FCUUF) (TSX: FCU) recently announced that the company will be presenting at Red Cloud’s 2022 Very Pre-PDAC Mining Showcase. We invite our shareholders and all interested parties to join us there. The annual conference will be a virtual event this year and will take place from March 2-4, 2022. Ross McElroy, President & CEO will be presenting on March 2nd at 2:40 pm Eastern Standard time. For more information and/or to register for the conference please visit: https://redcouldfs.com/prepdac2022/.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia. Fission’s common shares are listed on the TSX Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”
Uranium Royalty Corp. (NASDAQ: UROY) (TSXV: URC) recently announced that it has published its unaudited interim consolidated financial statements for the three and nine months ended January 31, 2022, which are available on SEDAR at www.sedar.com and EDGAR at www.sec.gov. As at January 31, 2022, the Company had approximately C$113 million in cash, marketable securities and physical uranium holdings.
Physical uranium holdings at January 31, 2022 were 1,348,068 pounds U3O8, which were acquired by URC at a weighted average cost of US$39.80 per pound. Based on the most recent daily spot price published by TradeTech LLC of US$54.50, the net realizable value of such holdings has increased by approximately C$27 millionsince the balance sheet date. The Company also recorded an increase in the fair value of its equity interests in Yellow Cake plc of approximately C$8 million during the nine months ended January 31, 2022.
Ur-Energy Inc. (NYSE American: URG) (TSX:URE) recently announced that it has filed S-K 1300 Initial Assessment Technical Report Summaries for its Lost Creek Property and Shirley Basin Project. The reports are filed as exhibits to the Company’s Annual Report on Form 10-K, filed March 9, 2022, with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov/edgar.shtml. Both reports were prepared by Qualified Person, Western Water Consultants, Inc., d/b/a WWC Engineering (“WWC”).
John Cash, Ur-Energy CEO, noted, “We are very pleased that WWC has confirmed the ongoing viability of the operating Lost Creek Project and Property. We are also proud to report that the Shirley Basin Project continues to show excellent potential as our second operating project. With these two properties, we stand ready to quickly ramp-up and supply a domestically produced, clean energy solution to our customers and America’s communities.”
Cameco (NYSE: CCJ) (TSX: CCO) announced it will issue its first quarter results before markets open on Thursday, May 5, 2022. Cameco invites investors and the media to join its first quarter conference call with the company’s senior executives on Thursday, May 5, 2022 at 8:00 a.m. Eastern. Cameco will discuss trends in the market and the execution of its strategy before opening the call to questions from investors and the media.
To join the call, please dial 800-319-4610 (Canada and US toll-free) or 604-638-5340. An operator will put your call through. The slides and a live webcast of the conference call will be available from a link at cameco.com.
A recorded version of the proceedings will be available on our website shortly after the call, and on post view until midnight, Eastern, June 5, 2022, by calling 800-319-6413 (Canada and US toll-free) or 604-638-9010 (Passcode 8606).
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