[RFI] Niger has called on Russian firms to directly invest in uranium and other natural resource production, following the collapse of relations with former colonial ruler France and the eviction of French nuclear giant Orano from the country

Andhra Pradesh Chief Minister N. Chandrababu Naidu has put brakes on a proposal to undertake uranium exploration in the Kappatralla reserve forest area in Kurnool district, offering relief to agitating villagers.

The YSR Congress Party Government led by Y S Jagan Mohan Reddy has given stage - I approvals for conducting explorations in the region to assess the availability of uranium

Shabaga, B M; Fayek, M; Quirt, D; Jefferson, C W; Ledru, P. Mineralium Deposita 2020 p. 1-18, https://doi.org/10.1007/s00126-020-01001-8
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/20180041.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/20180041.jpg" title="Mineralium Deposita 2020 p. 1-18, https://doi.org/10.1007/s00126-020-01001-8" height="150" border="1" /></a>

Potter, E G. Geological Survey of Canada, Open File 7873, 2021, 12 pages, https://doi.org/10.4095/328980
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_328980.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_328980.jpg" title="Geological Survey of Canada, Open File 7873, 2021, 12 pages, https://doi.org/10.4095/328980" height="150" border="1" /></a>

Jefferson, C W; Potter, E G; Rainbird, R H; Davis, W; Card, C; Bosman, S; Ramaekers, P. GAC-MAC 2021; Geological Association of Canada-Mineralogical Association of Canada, Joint Annual Meeting, Abstracts Volume vol. 44, 2021 p. 151
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/20210215.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/20210215.jpg" title="GAC-MAC 2021; Geological Association of Canada-Mineralogical Association of Canada, Joint Annual Meeting, Abstracts Volume vol. 44, 2021 p. 151" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9059, 2023, 1 sheet, https://doi.org/10.4095/332255
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332255.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332255.jpg" title="Geological Survey of Canada, Open File 9059, 2023, 1 sheet, https://doi.org/10.4095/332255" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9058, 2023, 1 sheet, https://doi.org/10.4095/332254
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332254.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332254.jpg" title="Geological Survey of Canada, Open File 9058, 2023, 1 sheet, https://doi.org/10.4095/332254" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9056, 2023, 1 sheet, https://doi.org/10.4095/332252
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332252.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332252.jpg" title="Geological Survey of Canada, Open File 9056, 2023, 1 sheet, https://doi.org/10.4095/332252" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9049, 2023, 1 sheet, https://doi.org/10.4095/332245
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332245.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332245.jpg" title="Geological Survey of Canada, Open File 9049, 2023, 1 sheet, https://doi.org/10.4095/332245" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9048, 2023, 1 sheet, https://doi.org/10.4095/332244
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332244.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332244.jpg" title="Geological Survey of Canada, Open File 9048, 2023, 1 sheet, https://doi.org/10.4095/332244" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9046, 2023, 1 sheet, https://doi.org/10.4095/332242
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332242.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332242.jpg" title="Geological Survey of Canada, Open File 9046, 2023, 1 sheet, https://doi.org/10.4095/332242" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9039, 2023, 1 sheet, https://doi.org/10.4095/332235
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332235.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332235.jpg" title="Geological Survey of Canada, Open File 9039, 2023, 1 sheet, https://doi.org/10.4095/332235" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9038, 2023, 1 sheet, https://doi.org/10.4095/332234
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332234.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332234.jpg" title="Geological Survey of Canada, Open File 9038, 2023, 1 sheet, https://doi.org/10.4095/332234" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9036, 2023, 1 sheet, https://doi.org/10.4095/332232
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332232.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332232.jpg" title="Geological Survey of Canada, Open File 9036, 2023, 1 sheet, https://doi.org/10.4095/332232" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9029, 2023, 1 sheet, https://doi.org/10.4095/332225
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332225.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332225.jpg" title="Geological Survey of Canada, Open File 9029, 2023, 1 sheet, https://doi.org/10.4095/332225" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9028, 2023, 1 sheet, https://doi.org/10.4095/332224
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332224.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332224.jpg" title="Geological Survey of Canada, Open File 9028, 2023, 1 sheet, https://doi.org/10.4095/332224" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9026, 2023, 1 sheet, https://doi.org/10.4095/332222
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332222.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332222.jpg" title="Geological Survey of Canada, Open File 9026, 2023, 1 sheet, https://doi.org/10.4095/332222" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9019, 2023, 1 sheet, https://doi.org/10.4095/332215
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332215.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332215.jpg" title="Geological Survey of Canada, Open File 9019, 2023, 1 sheet, https://doi.org/10.4095/332215" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9018, 2023, 1 sheet, https://doi.org/10.4095/332214
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332214.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332214.jpg" title="Geological Survey of Canada, Open File 9018, 2023, 1 sheet, https://doi.org/10.4095/332214" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9016, 2023, 1 sheet, https://doi.org/10.4095/332212
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332212.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332212.jpg" title="Geological Survey of Canada, Open File 9016, 2023, 1 sheet, https://doi.org/10.4095/332212" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9009, 2023, 1 sheet, https://doi.org/10.4095/332205
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332205.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332205.jpg" title="Geological Survey of Canada, Open File 9009, 2023, 1 sheet, https://doi.org/10.4095/332205" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9008, 2023, 1 sheet, https://doi.org/10.4095/332204
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332204.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332204.jpg" title="Geological Survey of Canada, Open File 9008, 2023, 1 sheet, https://doi.org/10.4095/332204" height="150" border="1" /></a>

Coyle, M; Fortin, R. Geological Survey of Canada, Open File 9006, 2023, 1 sheet, https://doi.org/10.4095/332202
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332202.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/gid_332202.jpg" title="Geological Survey of Canada, Open File 9006, 2023, 1 sheet, https://doi.org/10.4095/332202" height="150" border="1" /></a>

Jefferson, C W; Rainbird, R H; Young, G M; White, J C; Tschirhart, V L; Creaser, R A. Canadian Journal of Earth Sciences vol. 60, 2023 p. 1005-1039, https://doi.org/10.1139/cjes-2022-0077
<a href="https://geoscan.nrcan.gc.ca/images/geoscan/20220600.jpg"><img src="https://geoscan.nrcan.gc.ca/images/geoscan/20220600.jpg" title="Canadian Journal of Earth Sciences vol. 60, 2023 p. 1005-1039, https://doi.org/10.1139/cjes-2022-0077" height="150" border="1" /></a>

[Science] :
Two U.S. experts who inspected North Korea’s uranium enrichment facility at the Yongbyon nuclear complex in 2010 have analyzed recent images of a similar facility in the North and pointed out differences.  Stanford University professor emeritus Siegfried Hecker and Robert Carlin, a scholar at the ...

[more...]

In the complex, the ligand binds to the metal through an oxygen atom. The geometry of the seven-coordinate U atom is penta­gonal bipyramidal, with the uranyl O atoms in apical positions.

In the title complex, [U(C10H7N3O3)O2(CH3OH)]n, the UVI cation has a typical penta­gonal–bipyramidal environment with the equatorial plane defined by one N and two O atoms of one doubly deprotonated 2-[5-(2-hy­droxy­phen­yl)-1H-1,2,4-triazol-3-yl]acetic acid ligand, a carboxyl­ate O atom of the symmetry-related ligand and the O atom of the methanol mol­ecule [U—N/Oeq 2.256 (4)–2.504 (5) Å]. The axial positions are occupied by two oxide O atoms. The equatorial atoms are almost coplanar, with the largest deviation from the mean plane being 0.121 Å for one of the O atoms. The benzene and triazole rings of the tetra­dentate chelating–bridging ligand are twisted by approximately 21.6 (2)° with respect to each other. The carboxyl­ate group of the ligand bridges two uranyl cations, forming a neutral zigzag chain reinforced by a strong O—H⋯O hydrogen bond. In the crystal, adjacent chains are linked into two-dimensional sheets parallel to the ac plane by C/N—H⋯N/O hydrogen bonding and π–π inter­actions. Further weak C—H⋯O contacts consolidate the three-dimensional supra­molecular architecture. In the solid state, the compound shows a broad medium intensity LMCT transition centred around 463 nm, which is responsible for its red colour.

A new uranium metal–organic complex salt, [U(C10H9O2)2O2(C2H6O)], with benzoyl acetone, namely, bis­(benzoyl­acetonato)(ethanol)dioxidouranium(VI), was synthesized. The compound has monoclinic P21/n symmetry. The geometry of the seven-coordinate U atom is penta­gonal bipyramidal, with the uranyl oxygen atoms in apical positions. In the complex, the ligands bind to the metal through oxygen atoms. Additional weak O—H⋯O contacts between the cations and anions consolidate the three-dimensional arrangement of the structure. On the Hirshfeld surface, the largest contributions come from the short contacts such as van der Waals forces, including H⋯H, O⋯H and C⋯H. Inter­actions including C⋯C and O⋯C contacts were also observed; however, their contribution to the overall cohesion of the crystal structure is minor. A packing analysis was performed to check the strength of the crystal packing.

Source: Streetwise Reports 10/18/2024

Aero Energy Ltd. (AERO:TSXV; AAUGF:OTC; UU3:FRA) has announced significant advancements at its Murmac and Sun Dog uranium projects in Northern Saskatchewan, with the first drill program revealing high-grade uranium potential. Situated near Uranium City on the Athabasca Basin's northern margin, the projects aim to capitalize on basement-hosted uranium deposits similar to high-grade discoveries in the region.

The initial drill campaign completed 16 holes, targeting 12 key areas, with 12 holes yielding anomalous radioactivity. A major highlight is the new high-grade uranium discovery in drill hole M24-017, which intersected 8.4 meters of mineralization at 0.3% U3O8, including assays peaking at 13.8% U3O8 at just 64 meters below surface. The results confirm Aero's exploration model, which focuses on basement-hosted deposits within graphitic structures, a common feature in Athabasca Basin uranium deposits like Arrow and Triple R.

"From the launch of the company in January, we took a very diligent yet aggressive approach to discovery," stated Galen McNamara, CEO of Aero Energy. "The combination of historical data and the results from the first drill program serve as evidence that basement-hosted mineralization akin to the large deposits beneath and adjacent to the Athabasca Basin is present in the area."

The Murmac project spans 25,607 acres and holds a production legacy of approximately 70 million pounds of U3O8. Similarly, the 48,443-acre Sun Dog property hosts the historic Gunnar uranium mine, which once held the title of the world's largest uranium producer. Past exploration focused on fault-hosted mineralization, missing the basement-hosted uranium potential that Aero's recent findings have validated.

Recent exploration efforts included a VTEM Plus survey, flown over 3,350 kilometers, identifying graphite-rich rocks that support Aero's exploration thesis. Additionally, two new occurrences of strong radioactivity were identified at surface-level scout locations: Target A15 showed 60,793 counts per second, and Target P4 displayed 13,533 counts per second. Summer 2024 drilling included 1,550 meters at Murmac and 1,600 meters at Sun Dog, highlighting shallow, high-grade potential in both areas.

In parallel, Aero Energy has announced a CA$2.5 million non-brokered private placement to support further exploration. The proceeds from flow-through units will fund work programs across Murmac, Sun Dog, and the Strike property, with the remaining funds allocated to general working capital.

Why Uranium?

The uranium sector has recently experienced strong growth, largely driven by increasing global demand and efforts to diversify from Russian supply chains. On September 30, The New York Times discussed the resurgence in Western uranium production, highlighting that "uranium mines are ramping up across the West, spurred by rising demand for electricity and federal efforts to cut Russia out of the supply chain." Aero Energy's recent discoveries and forthcoming winter drilling plans at Murmac and Sun Dog reflect this trend, with CEO Galen McNamara remarking, "The combination of historical data and the results from the first drill program serve as evidence that basement-hosted mineralization . . . is present in the area," suggesting strong potential for the Canadian uranium market to contribute to non-Russian nuclear fuel supplies.

Jeff Clark of The Gold Advisor highlighted his continued confidence in the company by stating, "I remain overweight the stock."

On October 9, Reuters reported that demand from U.S. buyers has been on the rise, as "a strong rise in demand from its U.S. customers" pushed Orano's recent plans to expand uranium enrichment in the United States and France. This shift underscores Aero Energy's recent investments in Northern Saskatchewan, where the company has identified high-grade uranium mineralization in both the Murmac and Sun Dog projects, aiming to meet future supply demands with a focus on basement-hosted deposits.

As Forbes reported on October 11, the uranium market experienced renewed momentum after Russian President Vladimir Putin hinted at the possibility of a ban on uranium exports to Western nations. This suggestion "jolted the uranium market," which had been declining after peaking earlier in the year. The price of uranium rebounded to US$83.50 per pound, reflecting rising concerns about potential supply disruptions. Citi analysts noted that “Russia supplies close to 12% of U3O8, 25% of UF6, and 35% of EUP to international markets,” underscoring the challenges that Western nations, particularly the U.S. and Europe, could face in replacing these critical materials. This market dynamic positions uranium companies operating outside of Russia, like those in the Athabasca Basin, to benefit from supply gaps and heightened demand.

MSN reported on October 13 that the UK's nuclear power capacity is set to decrease dramatically in the coming years, with the planned closure of four out of five remaining nuclear plants by 2028. This reduction in capacity is expected to increase pressure on global uranium supplies as demand for nuclear energy continues to rise amid efforts to meet climate goals. The ongoing shift toward low-carbon energy sources, coupled with the planned closures, could create further supply constraints and drive demand for uranium from alternative sources.

Aero's Catalysts

According to the company's October 2024 investor presentation, the ongoing development at Murmac and Sun Dog highlights Aero Energy's strategy to enhance shareholder value by targeting high-grade uranium deposits in underexplored regions. Aero has leveraged recent technology investments, including VTEM Plus aerial surveys, which identified graphite-rich formations favorable for uranium. The exploration efforts build on the CA$7.6 million previously invested by project partners Fortune Bay and Standard Uranium, which has contributed to refining the drill targets. As Aero works with its partners to maximize the impact of this winter's drilling program, the company's strategic location on the north rim of the Athabasca Basin positions it well to expand these discoveries and attract continued investor interest.

The recently announced CA$2.5 million private placement will further strengthen Aero's financial capacity to carry out its targeted drill campaigns and exploration work.

Analyzing Aero

Jeff Clark of The Gold Advisor, in his October 17 update, noted that Aero Energy has "identified more than 70 kilometers of strike to test for high-grade basement-hosted uranium," emphasizing the company's significant exploration potential in a region known for some of the world's richest uranium deposits.

Clark further commented on Aero Energy's recent results, underscoring the importance of drill hole M24-017, which intersected 8.4 meters of uranium mineralization, grading 0.3% U3O8, with assays reaching as high as 13.8% U3O8. He stated, "While not a discovery hole, per se, this hole underscores the company's thesis that these two projects are prospective for the same type of uranium mineralization as Arrow and Triple R." This observation reinforces Aero Energy's exploration model, which targets basement-hosted uranium deposits similar to those found at other significant Athabasca Basin discoveries. [OWNERSHIP_CHART-11173]

Additionally, Clark expressed optimism regarding Aero Energy's current valuation and future prospects, recommending it as a strong buy at current levels. He highlighted his continued confidence in the company by stating, "I remain overweight the stock," suggesting that Aero Energy presents a compelling opportunity for speculative investors in the uranium exploration space.

The recently announced CA$2.5 million private placement was also acknowledged by Clark as a necessary step to fund further exploration activities. While he expressed some caution about potential dilution, he affirmed his overall support for the financing, noting that "its projects are very much worthy of follow-up."

Ownership and Share Structure

According to Refinitiv, management and insiders own 3.11% of Aero Energy. Of those, CEO Galen McNamara has the most at 2.97%. Institutions owns 4.79% with MMCAP Asset Management holding 3.89%. The rest is retail.

Aero has 92.3 million free float shares and a market cap of CA$4.5 million. The 52 week range is CA$0.040–$0.26.

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Important Disclosures:

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2) This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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( Companies Mentioned: AERO:TSXV;AAUGF:OTC;UU3:FRA, )

Source: Streetwise Reports 10/22/2024

The growth of artificial intelligence, the need for more computer data centers, the eventual adoption of electric vehicles (EVs), and the need for more net-zero power means a renaissance in nuclear power is underway.

Just last month, Microsoft Corp. (MSFT:NASDAQ) announced a deal with Constellation Energy Group (CEG:NYSE) to restart and buy all of the power from one of the shut-down reactors at its infamous Three Mile Island plant in Pennsylvania and the Biden administration also announced a plan to restart the Palisades plant in Michigan.

"Biden has called for a tripling of U.S. nuclear power capacity to fuel energy demand that is accelerating in part due to expansion of power-hungry technologies like artificial intelligence and cloud computing," Valerie Volcovici wrote for Reuters on Oct. 8.

The administration also wants to develop small nuclear reactors (SMRs) for certain applications.

All of this is putting the metal needed to power nuclear energy, uranium, front and center. Prices for the element have started rising, with nuclear fuel trading at US$83.30 per pound last Thursday, a level not seen since 2007, according to a report by Daily Finland on Friday.

Uranium prices are expected to move higher by the end of this quarter, when Trading Economics' global macro models and analyses forecast uranium to trade at US$84.15 per pound, Nuclear Newswire reported on Oct. 3. In another year, the site estimates that the metal will trade at US$91.80 per pound.

The Catalyst: Surging Demand

The engine driving the prices is a "fundamental global shortage" of uranium driven by surging demand, said Andre Leibenberg, chief executive officer of Yellow Cake, which is focused on providing exposure to uranium's spot price.

The demand is stemming not only from a growing recognition of nuclear power's role in the future energy mix, but also from its critical importance in supporting the AI boom and the development of data centers, he wrote in a company update last week, according to Mining Weekly.

According to the report, Liebenberg noted that the primary mine supply of 140 million pounds was significantly trailing behind global demand of more than 180 million pounds a year.

In the European Union, a "lack of clarity" about Russian uranium imports is holding back investment in new enrichment plants, according to Reuters.

Russia supplied more than 25% of European and American enriched uranium before the start of the Ukraine war in February 2022, the report said.

Since then, "the U.S. implemented a ban on imports of enriched uranium from Russia in August, with some exemptions, but in Europe, different countries have taken different approaches," muddying the waters.

Complicating matters is a hint in September that Russian President Vladimir Putin might embargo exports of the vital element to the west.

Citi, in a note to clients, said utilities have been stockpiling Russian uranium, but an embargo would make it "hard to replace" supplies of the metal in the next two years.

"Russia supplies close to 12% of U3O8 (known as yellow cake), 25% of UF6 (uranium hexafluoride) and 35% of EUP (enriched uranium product) to international markets," the bank said, according to Forbes. "While the largest share of these supplies goes to China and in supplying nuclear reactors that were built by Russia's Rosatom, we believe that at-risk supplies are exports to the U.S. or Western Europe."

The consequences of what could happen without more nuclear power can be seen in the U.K., where the number of reactors is shrinking. Four of five of them are expected to close in the next couple of years, which could "stretch the grid to the limit."

"As Britain's reactor fleet shrivels, the amount of nuclear capacity will fall from six gigawatts (GW) today to just 1.2 GW by 2028 or soon after," Jonathan Leake and Matt Oliver wrote for The Telegraph last week. "Along with rising demand from power-hungry data centers and technologies of the future, it will make it even harder to keep the lights on when wind and solar generation is low."

Small Nuclear Reactors (SMRs)

SMRs are another possible solution for some medium-sized energy needs. They have been operational for dozens of years in submarines and other long-distance ocean-going craft.

"They can be manufactured in factories and then rapidly erected on-site," Dominic Frisby wrote for his newsletter, The Flying Frisby, on Oct. 13. They are scalable, and that flexibility "aids manufacture, transportation, and installation while reducing construction time and costs."

A 440-megawatt (MW) SMR would produce about 3.5 terawatt hours (TWh) of electricity per year, enough for 1.2 million homes, Frisby noted.

SMRs produce electricity that can easily be adjusted to meet the constant, everyday needs of the grid (baseload), and they can also ramp up or down to follow changes in demand throughout the day, the author wrote. They spin in sync with the grid, so they help keep everything stable.

"When they're running, they act like a steady hand, providing momentum that makes it easier to manage sudden changes in electricity supply or demand," he wrote.

'Bucket Loads of Power' Needed

All of this equates for a bright future for the metal, he said.

"Guess what? AI requires bucket loads of power," Frisby wrote. "That's why Microsoft recently agreed to pay Constellation Energy, the new owner of America's infamous nuclear power station, Three Mile Island, a sizeable premium for its energy. There is cheaper wind and solar power to be had in Pennsylvania, but it isn't as reliable as nuclear 24 hours a day. It's not just AI. The widespread political desire to rid ourselves of fossil fuels means the world needs electricity, and fast."

Chris Temple, publisher of The National Investor, recently noted that with the Three Mile Island deal, "uranium/nuclear power is BACK!"

"I've watched as the news has continued to point to uranium being in the early innings of this new bull market," Temple wrote. "Yet the markets have been yawning . . . until now."

What follows are several uranium explorers and producers that could benefit from this upswing for investors looking to take advantage.

Baselode Energy Corp.

Baselode Energy Corp. (FIND:TSX.V; BSENF:OTCQB) controls 100% of about 273,000 hectares for exploration in the Athabasca Basin area in northern Saskatchewan, Canada.[OWNERSHIP_CHART-10321]

The company said it discovered the ACKIO near-surface, high-grade uranium deposit in September 2021. ACKIO measures greater than 375 meters along strike, greater than 150 meters wide, and is comprised of at least 11 separate zones. Mineralization starts as shallow as 28 meters beneath the surface and continues down to about 300 meters depth beneath the surface, with the bulk of mineralization occurring in the upper 120 meters, Baselode said. ACKIO remains open to the west and south and along the Athabasca sandstone unconformity to the east and south.

Earlier this month, the company reported positive uranium assay results from three drill holes of its 2024 drill program at ACKIO.

Notably, drill hole AK24-119 intersected 0.28% U3O8 over 21.0 meters, including a high-grade section of 1.55% U3O8 over 1.5 meters at a depth of 141 meters. While drill hole AK24-118 returned 0.59% U3O8 over 8.5 meters, including 1.25% U3O8 over 1.5 meters at a depth of 153 meters.

"These results strengthen our confidence in ACKIO," Chief Executive Officer James Sykes said in a release. "It's remarkable that, just over three years after discovering ACKIO, we're still achieving better-than-expected grades and widths."

Baselode expects further assay results from the remaining 40 drill holes to be released after quality review and approval.

David Talbot, Managing Director at Red Cloud Securities, noted in a September 17 report that drilling at ACKIO "continued to expand the mineralized footprint at Pods 1, 6, and 7," highlighting that "thirteen holes reported composite intervals of anomalous radioactivity between 11m and 42m in thickness."

In his report, Talbot rated the stock as a Buy and further projected the potential for "8-10-12 million pounds of U3O8 at a grade of ~0.3% U3O8," which aligns with typical grades found in the southeastern part of the Athabasca Basin.

According to Refinitiv, Baselode has institutions holding 23.26% with Alps Advisors holding the bulk of it with 17.94%, followed by Vident Investment Advisory LLC at 2.97%. Management and Insiders hold 1.59%. The rest is retail.

The company has a market cap of CA$20.05 million, with 131.51 free float shares. It trades in the 52-week range between CA$0.10 and CA$0.61.

Uranium Energy Corp.

According to its website, Uranium Energy Corp. (UEC:NYSE AMERICAN) is America's "largest and fastest growing supplier of uranium."[OWNERSHIP_CHART-402]

The company said it is advancing the next generation of low-cost, environmentally friendly in-situ recovery (ISR) mining uranium projects in the United States and high-grade conventional projects in Canada. It has two production-ready ISR hub and spoke platforms in South Texas and Wyoming.

Additionally, Uranium Energy Corp. said it has diversified uranium holdings with one of the largest physical uranium portfolios of U.S. warehoused U3O8; a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and a Western Hemisphere pipeline of resource stage uranium projects.

Most recently, the company announced it was expanding its U.S. uranium production capacity by acquiring Rio Tinto Plc.'s Sweetwater Plant and a portfolio of Wyoming uranium assets.

On September 25, Temple of The National Investor noted that UEC was "upgraded back to Buy" following recent uranium market news. He pointed to UEC's acquisition of the Wyoming uranium assets as a catalyst, emphasizing that uranium is "in the early innings of this new bull market."

Jeff Clark of The Gold Advisor, in his September 26 update, called the acquisition a "significant move," noting that it consolidated a large portfolio of uranium assets under UEC's control, positioning the company for rapid growth. He also highlighted the company's strategic advantage with "53,000 additional acres for exploration," reinforcing UEC's potential to ramp up production.

According to Reuters, Uranium Energy has a market cap of US$3.48 billion and 411.41 million shares outstanding. It trades in a 52-week range of US$4.06 and US$8.66.

About 2% of UE is help by management and insiders, Reuters noted. The largest portion, 77.58%, is held by institutional investors. The rest is in retail.

Terra Clean Energy Corp.

Formerly Tisdale Clean Energy Corp., Terra Clean Energy Corp. (TCEC:CSE; TCEFF:OTC; T1KC:FSE), a Canadian-based uranium exploration and development company, is currently developing the South Falcon East uranium project, which holds a 6.96-million-pound inferred uranium resource within the Fraser Lakes Zone B uranium/thorium deposit, located in the Athabasca Basin region of Saskatchewan.[OWNERSHIP_CHART-10935]

Representing a portion of Skyharbour Resources Ltd.'s existing South Falcon Project, Terra Clean Energy's project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.

Recently, the company announced a comprehensive exploration program set for Winter 2025 at its South Falcon East Uranium Project. The work will focus on extending the mineralized footprint at the Fraser Lakes B Uranium Deposit and includes about 2,000 meters of infill and step-out drilling designed to verify existing mineralized zones and identify additional targets.

In a release, Chief Executive Officer Alex Klenman described the initiative as "a unique setup for a Canadian microcap, offering multiple paths to significant value creation." This US$1.5 million project will involve TerraLogic Exploration Inc., operating out of SkyHarbour's McGowan Lake Camp with helicopter support.

According to Reuters, management and insiders hold 4.62% of Terra Clean Energy. Of those, Alex Klenman holds the most, with 4.37%.

Strategic Investors hold 12.03%, with Planet Ventures Inc holding the most at 7.40%. The rest is retail.

Terra Clean Energy has a market cap of CA$2.98 million and a 52-week range of CA$0.05 to CA$0.22.

North Shore Uranium Ltd.

North Shore Uranium Ltd. (NSU:TSX) said it is working to become a major force in exploration for economic uranium deposits at the eastern margin of the Athabasca Basin.[OWNERSHIP_CHART-10945]

The company said it is running exploration programs at its Falcon and West Bear properties and evaluating opportunities to complement its portfolio of uranium properties.

Falcon consists of 15 mineral claims, the company said. Four of them comprise 12,791 hectares and are 100%-owned by the company. The remaining 11 claims totaling 2,908 hectares are subject to an option agreement with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore has the option to earn up to 100% interest in the 11 claims by completing certain payments.

Earlier this month, the company announced details of its target generation efforts at its Falcon uranium project at the eastern margin of Saskatchewan's Athabasca Basin. The company said it has identified 36 uranium targets across three zones.

"We have a great pipeline of targets to choose from for our next drill program at Falcon," said President and Chief Executive Officer Brooke Clements. "Our Zone 2 has attracted the interest of uranium explorers in the past, and we believe there is potential to make a significant uranium discovery using new data and interpretation."

Earlier this month, North Shore announced it had received a Crown Land Work permit for the full 55,700-hectare Falcon project. Issued by the Saskatchewan Ministry of Environment, it authorizes the company to conduct mineral exploration activities, including prospecting and ground geophysics, trail and drill site clearing, line cutting, the drilling of up to 75 exploration drill holes, and the storage of drill core. The permit expires in July 2027.

Insiders and founding investors own approximately 45% of the issued and outstanding shares. Clements himself owns 3.6% or 1.33M shares, Director Doris Meyer has 2.11% or 0.78M shares, and Director James Arthur holds 1.58% or 0.58M shares. According to North Shore, 14.92M shares (40.5%) held by six founding investors are subject to a voluntary pooling agreement that restricts the disposition of these shares before October 19, 2026.

Most of the rest is with retail, as the institutional holdings are minor.

North Shore has 36.84M outstanding shares and currently has a market cap of CA$1.47 million. It has traded in the past 52 weeks between CA$0.04 and CA$0.30 per share.

Skyharbour Resources Ltd.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) has an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin, with 29 projects, 10 of which are drill-ready, covering over 1.4 million acres of mineral claims. In addition to being a high-grade uranium exploration company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to advance its secondary assets.[OWNERSHIP_CHART-6026]

In an updated research note on July 24, Analyst Sid Rajeev of Fundamental Research Corp. wrote that Skyharbour "owns one of the largest portfolios among uranium juniors in the Athabasca Basin."

"Given the highly vulnerable uranium supply chain, we anticipate continued consolidation within the sector," wrote Rajeev, who reiterated the firm's Buy rating and adjusted its fair value estimate from CA$1.16 to CA$1.21 per share. "Additionally, the rapidly growing demand for energy from the AI industry is likely to accelerate the adoption of nuclear power, which should, in turn, spotlight uranium juniors in the coming months."

Skyharbour acquired from Denison Mines, a large strategic shareholder of the company, a 100% interest in the Moore Uranium Project, which is located 15 kilometers east of Denison's Wheeler River project and 39 kilometers south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone, including highlight drill results of 6.0% U3O8 over 5.9 meters, including 20.8% U3O8 over 1.5 meters at a vertical depth of 265 meters.

Adjacent to the Moore Uranium Project is Skyharbour's Russell Lake Uranium Project optioned from Rio Tinto, which hosts historical high-grade drill intercepts over a large property area with robust exploration upside potential. The 73,294-ha Russell Lake Uranium Property is strategically located in the central core of the Eastern Athabasca Basin of northern Saskatchewan. Skyharbour has recently discovered high-grade uranium mineralization in a new zone at Russell and is carrying out an additional 7-8,000-meter drill campaign across both Russell and Moore.

Management, insiders, and close business associates own approximately 5% of Skyharbour.

According to Reuters, President and CEO Trimble owns 1.6%, and Director David Cates owns 0.70%.

Institutional, corporate, and strategic investors own approximately 55% of the company. Denison Mines owns 6.3%, Rio Tinto owns 2.0%, Extract Advisors LLC owns 9%, Alps Advisors Inc. owns 9.91%, Mirae Asset Global Investments (U.S.A) L.L.C. owns 6.29%, Sprott Asset Management L.P. owns 1.5%, and Incrementum AG owns 1.18%, Reuters reported.

There are 182.53 million shares outstanding with 178 million free float traded shares, while the company has a market cap of CA$89.44 million and trades in a 52-week range of CA$0.31 and CA$0.64.

ATHA Energy Corp.

Atha Energy Corp. (SASK:TSX.V; SASKF:OTCMKTS) is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets with a portfolio including three 100%-owned post-discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million pounds and 14.5 million pounds U3O8 respectively, and the newly discovered basement-hosted GMZ high-grade uranium discovery located in the Athabasca Basin).[OWNERSHIP_CHART-11007]

In addition, the company said it holds the largest cumulative prospective exploration land package (more than 8.5 million acres) in two of the world's most prominent basins for uranium discoveries. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd.

Technical Analyst Maund considers Atha Energy to be "THE top play in the uranium sector" and has an Immediate Strong Buy rating on it, he wrote in the previously mentioned Oct. 17 report.

The company's 3-, 13- and 26-month charts indicate its stock price had been in a bear market since trading began until September, when it had an upwave or preliminary breakout. This, along with other indicators, including positive accumulation-distribution convergence and high volume, suggest another upleg is expected soon, he said.

"Given the outlook for the uranium price and what Atha Energy has going for it, its stock is astoundingly cheap after its persistent downtrend this year," Maund wrote.

According to Refinitiv, 10 management and insiders own 16.44% of Atha Energy. The Top 5 are Timothy Young with 6.32%, Matthew Mason with 5.8%, Atha Chairman Michael Castanho with 1.16%, and Atha Director Sean Kallir with 0.9%.

Seven institutional investors together hold 9.38%. The Top 3 are Alps Advisors Inc. with 6.26%, Sprott Asset Management LP with 1.3%, and Vident Investment Advisory LLC with 0.8%.

The remaining 74.18% of Atha is in retail.

According to the company, it has 277.9M shares outstanding, 14M options, 4M restricted stock units/performance rights, and 10.2M warrants.

Reuters reports Atha's market cap is CA$208.42 million, and its 52-week range is CA$0.46−$1.42 per share.

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Important Disclosures:

1. Skyharbour Resources Ltd. and Terra Clean Energy Corp. are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, Terra Clean Energy has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of North Shore Uranium Ltd., Uranium Energy Corp., and Terra Clean Energy.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: SASK:TSX.V; SASKF:OTCMKTS, FIND:TSX.V; BSENF:OTCQB, NSU:TSX, SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE, TCEC:CSE; TCEFF:OTC; T1KC:FSE, UEC:NYSE AMERICAN, )

Source: Streetwise Reports 10/24/2024

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced that it has completed its earn-in requirements for a 51% interest at its co-flagship Russell Lake Uranium Project in the central core of Canada's Eastern Athabasca Basin in Saskatchewan.

The company and Rio Tinto have formed a joint venture (JV) to further explore the property, with Skyharbour holding 51% ownership interest and Rio Tinto holding 49%.

This summer, Skyharbour announced that in the first phase of drilling it had found what was historically the best uranium intercept mineralization at the project when hole RSL24-02 at the recently identified Fork Target returned a 2.5-meter-wide intercept of 0.721% U3O8 at a relatively shallow depth of 338.1 meters, including 2.99% U3O8 over 0.5 meters at 339.6 meters.

The second phase of drilling included three holes totaling 1,649 meters, with emphasis "at the MZE (M-Zone Extension) target, approximately 10 km northeast of the Fork target, identified prospective faulted graphitic gneiss accompanied by anomalous sandstone and basement geochemistry," Skyharbour said.

"The discovery of multi-percent, high-grade, sandstone-hosted uranium mineralization at a new target is a major breakthrough in the discovery process at Russell — something that hasn't been seen before at the project with the potential to quickly grow with more drilling," President and Chief Executive Officer Jordan Trimble said at the time.

ANT Survey, Upcoming Drilling Program

The company also announced on Thursday that it had completed an Ambient Noise Tomography (ANT) survey in preparation for further drilling at the Russell Lake Project, set to commence in the fall. The survey used Fleet Space Technologies' Exosphere technology to acquire 3D passive seismic velocity data over the highly prospective Grayling and Fork target areas, where previous drilling has intersected high-grade uranium mineralization.

"The ANT technology has been successfully employed in mapping significant sandstone and basement structures and associated alteration zones related to hydrothermal fluids pathways in the Athabasca Basin," the company said.

Results from the survey will be used to further refine drill targets for the upcoming drilling program. Skyharbour is fully funded and permitted for the follow-up fall drill campaign consisting of approximately 7,000 metres of drilling at its main Russell and Moore Projects, with 2,500 meters of drilling at Moore and 4,500 meters of drilling at Russell.

A Great Neighborhood

Russell Lake is a large, advanced-stage uranium exploration property totaling 73,294 hectares strategically located between Cameco's Key Lake and McArthur River projects and Denison's Wheeler River Project to the west, and Skyharbour's Moore project to the east.

"Skyharbour's acquisition of a majority interest in Russell Lake creates a large, nearly contiguous block of highly prospective uranium claims totaling 108,999 hectares between the Russell Lake and the Moore uranium projects," the company said.

Most of the historical exploration at Russell Lake was conducted before 2010, prior to the discovery of several major deposits in/around the Athabasca Basin, Skyharbour said.

Notable exploration targets on the property include the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, the Fox Lake Trail target and the newly identified Fork Zone target.

"More than 35 kilometers of largely untested prospective conductors in areas of low magnetic intensity also exist on the property," the company noted.

In an updated research note in July, Analyst Sid Rajeev of Fundamental Research Corp. wrote that Skyharbour "owns one of the largest portfolios among uranium juniors in the Athabasca Basin."

"Given the highly vulnerable uranium supply chain, we anticipate continued consolidation within the sector," wrote Rajeev, who rated the stock a Buy with a fair value estimate of CA$1.21 per share. "Additionally, the rapidly growing demand for energy from the AI (artificial intelligence) industry is likely to accelerate the adoption of nuclear power, which should, in turn, spotlight uranium juniors in the coming months."

The Catalyst: Uranium is 'BACK!'

The growth of AI, new data centers, electric vehicle (EV) adoption, and the need for more net-zero power means more nuclear energy and the uranium needed to fuel it.

Uranium prices are expected to move higher by the end of this quarter, when Trading Economics' global macro models and analyses forecast uranium to trade at US$84.15 per pound, Nuclear Newswire reported on Oct. 3. In another year, the site estimates that the metal will trade at US$91.80 per pound.

Just last month, Microsoft Corp. (MSFT:NASDAQ) announced a deal with Constellation Energy Group (CEG:NYSE) to restart and buy all of the power from one of the shut-down reactors at its infamous Three Mile Island plant in Pennsylvania and the Biden administration also announced a plan to restart the Palisades plant in Michigan.

Chris Temple, publisher of The National Investor, recently noted that with the Three Mile Island deal, "uranium/nuclear power is BACK!"[OWNERSHIP_CHART-6026]

"I've watched as the news has continued to point to uranium being in the early innings of this new bull market," Temple wrote. "Yet the markets have been yawning . . . until now."

Ownership and Share Structure

Management, insiders, and close business associates own approximately 5% of Skyharbour.

According to Reuters, President and CEO Trimble owns 1.6%, and Director David Cates owns 0.70%.

Institutional, corporate, and strategic investors own approximately 55% of the company. Denison Mines owns 6.3%, Rio Tinto owns 2.0%, Extract Advisors LLC owns 9%, Alps Advisors Inc. owns 9.91%, Mirae Asset Global Investments (U.S.A) L.L.C. owns 6.29%, Sprott Asset Management L.P. owns 1.5%, and Incrementum AG owns 1.18%, Reuters reported.

There are 182.53 million shares outstanding with 178 million free float traded shares, while the company has a market cap of CA$88.53 million and trades in a 52-week range of CA$0.31 and CA$0.64.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Important Disclosures:

1. Skyharbour Resources Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

( Companies Mentioned: SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE, )

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced it has entered into an agreement with Hatchet Uranium Corp. to acquire interest in several of its projects. One analyst says the "spotlight" is on uranium juniors as the energy transition drives a heightened demand for power sources.

Aero Energy Ltd. (AERO:TSXV; AAUGF:OTC; UU3:FRA) has announced significant advancements at its Murmac and Sun Dog uranium projects in Northern Saskatchewan. Read how this and a CA$2.5-million non-brokered private placement aim the company towards further exploration.

The growth of artificial intelligence, the need for more computer data centers, the eventual adoption of electric vehicles (EVs), and the need for more net-zero power means nuclear power, and the uranium needed to fuel it, is seeing a resurgence. Here are some options to make the situation work for your portfolio.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) has completed its earn-in requirements for a 51% interest at the Russell Lake Uranium Project in the central core of Canada's Eastern Athabasca Basin in Saskatchewan. This comes as the need for more net-zero power is sparking a rebirth of the nuclear industry.

Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQX; SC1P:FSE) announced it has entered into an agreement with Hatchet Uranium Corp. to acquire interest in several of its projects. One analyst says the "spotlight" is on uranium juniors as the energy transition drives a heightened demand for power sources.

Efforts to convert civilian research reactors from weapon-grade highly enriched uranium (HEU) to low enriched uranium (LEU) fuels are taking significantly longer than anticipated, says a congressionally mandated report from the National Academies of Sciences, Engineering, and Medicine.

Location: Engineering Library- TD442.5.M4586 2016

With hundreds of new uranium mining claims filed within just a few miles of Grand Canyon National Park, a proposed new law would close the area to mining development and prevent radioactive contamination from discharging into the park

The villagers fear losing their lands and livelihood and also adverse affects of uranium mining on their lives

Efforts to convert civilian research reactors from weapon-grade highly enriched uranium (HEU) to low enriched uranium (LEU) fuels are taking significantly longer than anticipated, says a congressionally mandated report from the National Academies of Sciences, Engineering, and Medicine.