Uranium Report -Friday April 21, 2023.
another rather boring day for uranium and general markets is behind us. Major U.S. stock indexes were little changed on following mixed earnings results, #commodities like #gold, #silver, #copper, natural gas all finnished lower.
Uranium spot price showed some life with 37 cents move.🤏
US/CANADA URANIUM STOCKS PERFORMANCE
8 finished in green territory,
29 stocks flat (13 with no volume at all),
39 stocks finished in red territory.
The winner of the day is Labrador uranium with 13.11% gain and looser of the day is Goviex Uranium with 21.95% loss.
AUSTRALIA URANIUM STOCKS PERFORMANCE
Out of the 41 uranium/nuclear energy related stocks listed in Australia,
8 finished in green territory,
17 stocks flat (13 with no volume at all),
16 stocks finished in red territory.
The winner of the day is Valor Resorces with 25.00% gain and looser of the day is Thor Mining with 20.00% loss.
US-Korean partners to build SMR-powered hydrogen production facility
The Hydrogen Micro Hub is a facility that produces hydrogen by applying a high-temperature electrolysis process of solid oxide electrolysis cells (SOEC) to the electricity and high-temperature steam generated by USNC's Micro-Modular Reactor (MMR). USNC said that, compared with commercial pressurised water reactors, this technology can generate relatively high-temperature steam, enabling the use of SOEC operating at high temperatures, which can maximise hydrogen production efficiency with less energy.
The three companies plan to construct the first Hydrogen Micro Hub at SK E&C's headquarters in Seoul. Under the agreement, they will jointly conduct research and development on the MMR-SOEC integrated plant for the next five years. Through this, they plan to examine the establishment of a competitive hydrogen production system, and promote continuous research and development and verification for future hydrogen production and supply businesses.
Hyundai Engineering will oversee the MMR-related balance of plant and engineering, procurement and construction activities, while USNC will be responsible for the design, manufacturing and supply of the MMR. SK E&C will establish a nuclear power-based hydrogen production system using Bloom Energy's SOEC and supply hydrogen production equipment.
Partnership formed to deploy Seaborg's Power Barge
Korea Hydro & Nuclear Power (KHNP), Samsung Heavy Industries (SHI) and Seaborg Technologies have established a consortium to develop floating nuclear power plants featuring Seaborg's compact molten salt reactor (CMSR) technology.
GoviEx Announces Upsize to Previously Announced Bought Deal Private Placement to $15 Million
GoviEx Uranium announced today that it has entered into an amended agreement with Eight Capital and Sprott Capital Partners, as lead underwriters and joint bookrunners , in connection with an upsized "bought deal" private placement financing of 85,714,200 units of the Company (the " Units ") at a price of $0.175 per unit, for aggregate gross proceeds of $14,999,985.
Each Unit will be comprised of one common share of the Company (each, a " Common Share ") and one common share purchase warrant (each, a " Warrant "), with each Warrant entitling the holder thereof to purchase one additional Common Share at an exercise price equal to the United States dollar equivalent of $0.25
Not a great news for us, the existing shareholders, but this is no big surprise since their cash position was under 1 million CAD. As a substantial shareholder I am not to thrilled to see a financing well below current share price and done with a full warrant.
A lot of investors (including me) asked the same question when it comes to Goviex- why is a near term producer with big amount of #uranium in the ground priced as some Athabasca Basin greenfield junior.
The answer is share structure. I believe this stock has a "negative stigma" related to a bed timing of private placements with unfavourable conditions.
After the closing of this PP, company will have well over 700M shares outstanding (and well over 100M warrants outstanding).
Good news, if there is any, is that this amount of money should give them enough capital for the remainder of the year.
For consolation I bought my biggest position in Goviex at 0.10 CAD after they did Sprott-led private placement in December 2016. After that raise stock never return to these levels, it went much higher. I still believe this company is undervalued in the terms of pound in the ground (compared to peers) and the fact that Madauela project is on path to becoming a mine. I am holding and waiting for better times on this one.
IsoEnergy Provides Winter Exploration Update
Company updates on winter 2023 exploration activities on its 100% owned Larocque East, Hawk and Geiger projects, all located in the northeastern region of the Athabasca Basin of Saskatchewan (Figure 1). Larocque East hosts the Company's high-grade Hurricane Deposit.
Five drill holes completed at Hawk totalling 4,273 metres.
Six drill holes totaling 1,909 metres completed at Larocque East.
Ground geophysical surveys completed at Larocque East, Geiger and Hawk.
Small insider buying of F3 Uranium shares, reported by Dev Randhava. 20000 shares traded at $0.305 each. totaling $6,100.
Azincourt Energy Options Big Hill Lithium Project
Company entered into a definitive property option agreement,with Atlantis Battery Metals Corp. (the “Optionor”), an arms-length party, pursuant to which it has been granted the option (the “Option”) to acquire up to a seventy-five percent interest in three exploration licenses covering 300 contiguous mineral claims located in the Province of Newfoundland and collectively known as the “Big Hill Lithium Project”
Some of #uranium companies short positions (number of shares)
Thank you for your attention.Enjoy your weekend!
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